Import/Export Industry Notifications

Maharashtra farmers are likely to suffer huge losses of over Rs. 50 billion owing to a government decision to ban the export of onions. Experts claim the move will most likely benefit China and Pakistan in the international market. After the ban was announced, truckloads of onions have been stranded at several places like Nashik, Pune, Nagar and Solapur.

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India Ratings and Research (Ind-Ra) has published the August edition of its credit news digest on India’s logistics sector. It highlights the key volume and realisation trends across three logistics sub-sectors – sea logistics (global and domestic), surface logistics (rail and road) and air logistics (passenger and freight). The sea and road transportation segment witnessed a continued recovery on a month on month (mom) basis in August 2020, though it remains lower year on year (yoy).

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Indian exporters and officials have stated that exports of vegetables has risen to about 20% more than the pre-Covid levels, helped by demand from West Asia and Europe and lower air freight. Indian exporters also earned goodwill as they had ensured steady supply even when freight rates were high, unlike countries such as Egypt, China, Kenya and Dominican Republic, said Sunil Awari, GM at Bengaluru-based Namdhari Farm Fresh.

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With trans-Pacific container rates at an all-time high, even more containers are flowing from Asia to the US. The return leg is a different story, however, with empty space frequently seen on board. The US agriculture industry has spotted this crack, and expectations are high that containerized soybeans, wheat, and corn could fill the gap.

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Container Truck Drivers at the Colombo port ends their trade union action. The trade union was staged to protest against the alleged inefficiencies in the Orugodawatta customs checkpoints. The strike ended after a discussion with the Director General of the Customs and State Minister, Jayantha Samaraweera.

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India’s exports are gaining momentum and showing signs of a V-shaped recovery, while imports remain subdued with an expectation of L-shaped recovery as claimed by MAERSK. The shipping giant said that during Q2-2020, the Indian containerised trade contracted by almost 30% as compared to the same period last year. Exports out of India were down by over 24% while imports suffered a greater shock with a fall of almost 34%.

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With effect from November 1, 2020, HAPAG LLOYD will revise the Export and Import Detention charges and the free time in Canada

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To serve their customers better with faster documentation response time and to maintain a high level of invoice accuracy, HAPAG LLOYD requests some information while submitting shipping instructions for each bill of lading.

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TIR will facilitate intermodal transport and act as enabling document to cross multiple international borders without any additional checks. Address a webinar Mall added that TIR will further help to improve trade between India, Central Asia & CIS countries. The International Road Transport Union was very pleased to acknowledge the interest shown by Indian exporting industry towards the TIR procedure, especially the efforts made by CBIC, FICCI and FFFAI to promote this trade facilitation tool.

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