BUSINESS
India’s garment exports may continue to drop on high inflation, recession threat
Exports are down 20 per cent for the last few months on weak demand from the key US, and EU markets; the rupee fall and better cotton crop may reduce the impact.
BUSINESS
As corporates ‘go nuts’ with Diwali gifting, demand for dry fruits pick up
COVID period saw people eating more dry fruits and nuts as part of maintaining a healthy lifestyle With offices reopening open and businesses back to normal, the demand for dry fruits and nuts for corporate gifting has increased.
BUSINESS
Slack offtake by importers, weak festive demand from North India dampen cardamom prices
After record exports in FY22, the robust trend that continued for the first few months of the current year has been halted by the flow of cheaper cardamom from Guatemala, the world’s largest producer of the spice, and sluggish demand from the major importing countries
BUSINESS
Exporters fear further margin squeeze as GST exemption on freight goes
The government has decided to discontinue GST exemption on ocean freight at 5 percent and air freight at 18 percent from October 1, 2022. Exporters, already facing a decline in demand in the US and Europe, are hurt more by the move. They say the move will hurt them as freight rates are yet to get back to pre-Covid levels
BUSINESS
Why Kerala paddy farmers are having a field day now
Measures like assistance for fallow land cultivation, upland cultivation, and conversion of single crop to double crop have increased productivity. Though paddy farmers are still struggling with rising cost of production and procurement delays, they get a daily wage of Rs 700, against Rs 200-300 in other states.
INDIA
India’s garlic exports rise over 90% in first quarter as China imposes curbs
Garlic registered the biggest increase among the 19 varieties of spices exported from India.
BUSINESS
As gold price drops, hopes stir of increase in festive demand for jewellery
The price had touched Rs 48,400 per 10 grams in April, the highest so far in 2022. If the rise in the dollar continues, it could test Rs 44,900 reached in January, traders reckon.
BUSINESS
Prices of red chillies hit new highs
Supply squeeze has pushed prices up 50 percent from last year, despite sluggish demand from China, the largest importer of Indian chilli. Excess rainfall last year led to widespread pest attacks, causing a shortage in chilli output in the last harvest in early 2022.
BUSINESS
Business jet terminal, 5-star hotel among projects to power Cochin Int’l Airport ahead
COVID-19’s hit on revenues prompts the airport to launch many initiatives. The airport, which is the first in the world to run fully on solar power, has many other firsts to its credit. After a loss of Rs 87.21 crore in 2020-21, the company registered a net profit of Rs 26.13 crore in FY22. S Suhas, MD of CIAL, says the revenue target for this fiscal is Rs 675 crore.
BUSINESS
India’s seafood exports may miss $8.6 billion target on recession in US, Europe, China lockdowns
In FY22, India touched a new peak in seafood exports at $7.76 billion, achieving 97% of the targeted $7.8 billion.
BUSINESS
Natural rubber sheet prices tumble on weak China demand, European energy crisis
Rubber Board data shows there was an over 5 percent increase in production in April-July of FY23 at 197,000 tonnes from a year ago. Consumption for the period was up by 12 percent to 467,000 tonnes.
BUSINESS
Ahead of the harvest festival of Onam, Kerala businesses have their fingers crossed
Liquidity still seems a problem in Kerala in the face of high inflation. Consumers are not spending as freely as they used to do before the pandemic. And the number of those who depend on loans for purchases has gone up
BUSINESS
Orthodox tea production gets boost from rising exports, prices
Orthodox tea, much preferred for exports, currently accounts for around 10 per cent of the country’s total tea production that stood at 1,343 million kg in 2021.
BUSINESS
Demand for Indian coffee may go up over Vietnam crop reduction concerns
Skyrocketing prices of inorganic fertilisers have led to increased use of organic fertilisers in Vietnamese coffee plantations, which has triggered concerns of a lower yield
BUSINESS
Rubber Board looks beyond Kerala, steps up cultivation in NE states to bridge shortfall, cut imports
Rubber Board aims to bring 26,000 hectares in north-eastern states under natural rubber cultivation this year. India's rubber production is likely to surpass last year's output to touch 8,50,000 tonne in FY23.
BUSINESS
As domestic tourist inflow to Kerala rises, premium hotels bet on MICE, social events
While the rush of visitors is keeping budget and medium hotels busy, premium hotels are eyeing weddings, MICE, and other social events. International tourist inflow is expected to pick up only by next year. Hike in rates has not dented wedding bookings in 5-star hotels.
BUSINESS
India’s coffee exports set for a boost as supply issues haunt Brazil, Vietnam
Some growers, however, are sceptical because heavy rains in July and August have dampened prospects for the next crop.
BUSINESS
Rising consumption, hoarding raise Indian black pepper prices
Higher prices also spur illegal imports. While Indian variety rules around Rs 500 per kg, pepper from other countries hover in the range of Rs 300-400 per kg. Large lots of pepper from other countries are being imported to India, after being misdeclared as scrap iron, scrap plastic waste, etc.
BUSINESS
Kerala farmer's intra-crop coffee variety vows more income to struggling rubber growers
Antony wants growers to use his discovery as a means of permanent income and not just to supplement their dwindling rewards from rubber because of higher cost of production and low prices.
BUSINESS
Cocoa import rises as Indians say ‘more chocs please’
As chocolates fast displace traditional sweets and dark chocolates get more fans in the country, domestic cocoa producers find it tough to rise to the occasion. Cocoa import has surged 25% in FY22, from a single-digit growth in the past few years
BUSINESS
India has a major role to play in the transition of the global glove industry to an environment-friendly state: Dr S Supramaniam
Thanks to the many production-related changes effected in the last few years, gloves with greater natural rubber content are now safe for use. However, the mindset of the consumers is yet to change, said the President of the Malaysian Rubber Glove Manufacturers Association
ECONOMY
Seafood exporters see bright spots in Russia as rupee settlement is allowed
If Indian exporters gain access to Russia, it will help the seafood industry meet its export target of $8.6 billion. At present, 80 companies export to Russia. Now, about 40 more are seeking permission
BUSINESS
Jewellers heartened by drop in gold price, risk lies in possible global recession
Akshaya Tritiya sales of gold jewellery in May increased 20 percent over the pre-COVID levels of 2019, spurred by a slight drop in price. The jewellery sector is hopeful of maintaining the trend this year with gold prices likely to remain low.
BUSINESS
Kerala set to gain from rupee’s fall against dollar; growth of NRI deposits may pick up
Apart from the rupee’s depreciation, the increase in interest rates may help bring more NRI deposits to banks in the second half of the year
