Import/Export Industry Notifications

On May 25th morning, the vessel suffered an explosion. All crew has evacuated, and at least eight containers, some feared to be containing acid, have tumbled into the sea, with authorities issuing swimming bans nearby. The three-month-old, 2,700 teu ship, carrying 25 tons of nitric acid, caught fire on Thursday off Colombo Port with Sri Lanka deploying aircraft and navy vessels to assist in firefighting.

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The government is dismissing fears of a fall in prices because of pulses import, arguing that the quantities proposed to be shipped is small and, in any case, domestic production is lower than demand.

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On the MCX, Cotton futures for May delivery climbed Rs 190, or 0.8%, to Rs 22,290 per bale at 19:56 hours IST on a business turnover of 3,062 lots. The June contract rose Rs 190, or 0.85 percent, at Rs 22,550 per bale with a business volume of 6,157 lots. The agri-commodity traded at day’s high in the evening session on low inventory in local market and export projections.

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Because of the combined effects of strong shipping demand, port delays, and shortage of containers, the spot price of containers continued to rise and reached new highs. Part of the reasons for this price increase is the shortage of ships, as most of the capacity has been used on the popular trans-Pacific and Asia-Europe trade routes.

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The Shyama Prasad Mookherjee Port in Kolkata will stop work for two days starting tomorrow ahead of the Very Severe Cyclonic Storm Yaas. The cyclone is expected to make landfall in Balasore, Odisha, on the east coast.

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In a significant boost to the export of GI-certified products, the season’s first consignment of Shahi Litchi from Bihar was exported to the United Kingdom by air route on 24th May. The phyto-sanitary certification for exports of Shahi Litchiwas issued from the newly established certification facility at Patna.

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The annual rice import market in the Philippines is estimated at around 2.5 million tonnes. With the Philippines cutting import tariffs on rice to increase supplies, Indian exporters see an opportunity to ship out more of the food grain to the South-East Asian nation, one of the largest grain buyers in the region.

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The new portal is up again. Though it has been up since 17.5.2021, members were facing minor problems. The software development team was affected by Covid, and the new team took some time. While applying, members are requested to please choose the correct payment option and with care.

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India's eastern coast was on alert ahead of a severe cyclone brewing in the Bay of Bengal on Monday, just days after a powerful storm battered the country's western coast and killed at least 140 people.

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