Import/Export Industry Notifications

India's containers shortage could last an additional three months, as clog hits Colombo and transporters call for tighter guideline of cargo rates. Overall Logistics (India) said the intense space issue in the course of recent weeks was the consequence of expanded interest, diminished imports and port revolution issues.

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The United States and the European Union have restricted India's proposition to absolve certain developing nations from diminished fisheries subsidies. The US and EU have contended that the proposition before the World Trade Organization (WTO) – which tries to absolve nations with public wages under a particular edge level - will permit most developing nations to stay excluded from appropriation cuts.

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After banning the export of the vegetable itself, the government has also decided to ban the export of onion seeds, after reports emerged of the seed’s shortage ahead of the next sowing season in the country. The government banned the export of onions as price of the bulb crossed the “psychological” mark of Rs. 30 per kg in wholesale markets of Nashik.

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Indicating a spilling over of border tensions into the world of trade, India has begun a probe into the alleged dumping of a certain pharmaceutical raw material by Chinese company. While the compound in question—Ceftriaxone Sodium Sterile—is just a drop in the vast ocean of Active Pharmaceutical Ingredients (API) imports, the probe comes at a time when domestic API companies are clamouring for the Centre to actively reduce India’s import dependency on Chinese APIs.

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CNH Industrial India exports 100 tractors to Bangladesh in an inaugural freight train run from Dadri, Noida. The 25 wagon freight train carrying the tractors over was seen off by the business head of SAARC.

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Transpacific carriers have reacted to a robust demand outlook and record container spot rates by deploying extra loaders on the trade lane. With October advance vessel load data for the port of Los Angeles running 30% to 34% higher than last year, carriers are also looking at more permanent network upgrades on the route. According to an assessment by Alpha liner, the average weekly head-haul capacity between Asia and North America reached a new high of 530,000 teu in the rush before the Chinese Golden Week holiday.

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Under the CAROTAR regime, the declaration and verification criteria will become comprehensive for import under PTT. There are some changes in particulars of the bill of entry such as the declaration regarding satisfaction of originating goods (for PRD), CoO details, originating criteria “wholly obtained” (WO) or “Not wholly obtained” (NWO),

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Hapag Lloyd’s booking Cancellation and Amendment Fee for all applicable export shipments from Australia. Booking amendment fee is at $50 and Cancellation fee is at $100 per container.

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The Horticulture Department from Tamil Nadu’s Trichy District has announced incentives to growers to cultivate organic vegetables in the district. The incentive varies based on vegetables as growers will get Rs 1,000 per acre for greens, Rs 1,500 per acre for tomato, brinjal, ladies finger, gourds, and broad beans and Rs 2,000 for cabbage, cauliflower, capsicum and beans. Growers will be also given an additional Rs 200 per acre to meet certification charges.

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