Import


 

India Bans Gold Exports “Without a Valid Reason” [0.02]

Posted on Aug. 16, 2017, 9:26 a.m. by MishTalk @ [source]

In addition to its crackdown on cash, India stepped up its attack on gold. India does that in a roundabout way, by cracking down on exports.

addition carats crackdown export free Gold import India Shipments trade

 

July export prices rose 0.4% vs a 0.1% rise in import prices. Import prices in July posted an as-expected 0.1 percent increase as petroleum was up 0.7 percent in the month.

boost export finished import July month On petroleum rose year

 

LA area Port Traffic increased in July [0.08]

Posted on Aug. 14, 2017, 4:55 p.m. by Calculated Risk @ [source]

Surging cargo volume in July set a record for the best month in the Port of Long Beach’s 106-year history, surpassing the previous high mark set in August 2015 for the number of containers moved across its docks.

With total volume of 720,312 twenty-foot-equivalent units (TEUs) in July, cargo traffic has increased for five consecutive months in Long Beach, and in six of the first seven months of 2017.

beach cargo container import July months port rolling traffic Volume

 

Oilseed, edible oil prices surge on import duty hike [0.02]

Posted on Aug. 14, 2017, 2:57 p.m. by Markets @ [source]

Prices of oilseeds and edible oils jumped by up to 3.5 per cent in spot and futures on Monday, due to apprehension of lower supply after an increase in the Customs duty, to curb cheaper import.

The strengthening rupee and low international prices, combined with a duty differential favouring import of refined edible oils, had led to immense pressure on the domestic industry, with many crushing and refining facilities on the verge of closure.

cent crude crushing duty edible oil import oil refined refining seed

 

The country has sufficient stock of available and there are no plans to allow further imports of the at zero duty, Food Minister said on Saturday.

The country has supply of about 27.9 million tonnes (MT) in the current 2016-17 season (October-September).

crushing current duty import mills mt October operations season tonnes

 

Edible oil to become costlier by 4-5% on import duty hike [0.02]

Posted on Aug. 12, 2017, 11:40 a.m. by Markets @ [source]

The on Friday announced increase in on both crude and refined edible oil, a demand that the domestic seed crushing and refining industry had been making over the past several months.

But, a marginal increase is unlikely to make a difference for consumers.

cent crude crushing domestic duty edible import oil refined seed

 

90% of South Korea gold imports by two business groups [0.14]

Posted on Aug. 10, 2017, 7:25 p.m. by Markets @ [source]

Only two entities have together imported close to 10,000 kg of gold from India's free trade partner of South since July, after implementation of the goods and services tax (GST).

Of the total of 11,000 kg imported from July 1 to August 9, around 90 per cent has been brought in by two business groups which have taken advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea, say government sources.

bullion cent duty Gold government import imported India kg trade

 

Gold import surge via Korea using FTA loophole [0.14]

Posted on Aug. 10, 2017, 5:44 p.m. by Markets @ [source]

Only two entities have together imported close to 10,000 kg of gold from India's free trade partner of South since July, after implementation of the goods and services tax (GST).

Of the total of 11,000 kg imported from July 1 to August 9, around 90 per cent has been brought in by two business groups which have taken advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea, say government sources.

bullion cent duty Gold government import imported India kg trade

 

Gold imports more than doubled in July [0.07]

Posted on Aug. 9, 2017, 7:44 p.m. by Markets @ [source]

Inbound purchases rose to 53.4 tonnes last month from 22 tonnes a year earlier, said the person, who didn't wish to be identified because the data isn't public. Sequentially, imports of the metal fell from 72 tonnes in June.

data earlier identified import inbound person purchases rose tax tonnes

 

A month after goods and services tax (GST) roll-out, a sudden deluge of imports from free trade partner has alarmed New Delhi.

Industry officials say was mostly trading at a discount last month, and the demand was also weak after the implementation of the As a result, imports nosedived to around 30 tonnes, of which 15 to 20 per cent is estimated to have taken place from Korea under zero duty.

Agreement cent custom duty FTA import India Korea ministry official

 

From a 150 per cent surplus of export over import, India’s trade balance in agricultural and allied products has slipped in four years to near-equality.

Data compiled by the Directorate General of Commercial Intelligence and Statistics under the ministry of commerce and industry showed India’s exports of agri and allied products declined by 25 per cent to $24.7 billion for financial year 2016-17, as against nearly $33 billion in 2013-14.

agri agricultural allied cent export farmers import India Products trade

 

Govt sits up over post-GST gold import from Korea [0.07]

Posted on Aug. 8, 2017, 5:13 p.m. by Markets @ [source]

A month after goods and services tax (GST) rollout, a sudden deluge of imports from free trade partner has alarmed New Delhi.

Industry officials say was mostly trading at a discount last month, and the demand was also weak after the implementation of the As a result, imports nosedived to around 30 tonnes, of which 15 to 20 per cent is estimated to have taken place from Korea under zero duty.

Agreement cent custom duty FTA import India Korea ministry official

 

Govt proposes safeguard duty on gold import from Korea [0.06]

Posted on Aug. 8, 2017, 1:07 p.m. by Markets @ [source]

The Government of India has asked the Director General (Safeguard) to impose on and jewellery imported from The merchandise from that country currently attracts zero rate of duty under India-Korea Comprehensive Economic Partnership Agreement, and not 10 per cent basic customs duty normally applicable to the precious metal.

Several complaints were made to the finance ministry, but since the issue was under treaty, government has had to find a way out through the issue of a notification (No.

cent duty import India industry jewellery July Korea notification safeguard

 

Investment products, including paper gold, bars, and coins, are likely to see their share in the country's overall leapfrog to 33 per cent, from the current share of nearly 22 per cent, in the coming years due to an increase in the overall transparency in the bullion trade through the implementation of the (GST).

A World Gold Council (WGC) report estimates that India’s investment gold (bars and coins) demand stood at 72.7 tonne for the January–June period in 2017, compared to 59.8 tonne for the corresponding period last year.

bars coins cent demand duty Gold import investment jewellery June tonne

 

The headlines will say that today’s ISM Manufacturing report was weaker than expected, continuing a trend we have seen in the data for some months now, but the reality is that today’s report was still very strong. Just look at the commentary associated with today’s report.

commodities dollar headline highest import index ISM levels report strong

 

Ltd, the country's largest trading company, aims to double its topline in the next five years by revamping its business operations.

MMTC, a major player in import and sale, plans to open 250 retail outlets across the country.

business country double export import jewellery minerals Prakash sale years

 

Everything started so well in July.

Of course everything I discussed so far in terms of politics can be seen from multiple perspectives.

AK Steel bit earnings import plan position Steel stock traders Trump

 

Gold import in second half set to slide [0.05]

Posted on July 29, 2017, 5:43 p.m. by Markets @ [source]

It was 500-plus tonnes in the first half, supported by a 126 per cent surge in demand during the June quarter.

Even so, total import for the year would be about 50 per cent higher, at close to 760 tonnes, than the 2016 one of 510 tonnes.

cent demand GFMS higher import jewellery market quarter survey tonnes

 

As part of a new nationwide tax regime that kicked in on July 1, the on has jumped to 3 per cent from 1.2 per cent previously. The domestic price includes a 10 per cent import tax.

benchmark cent domestic GFMS import July ounce premiums tax tonnes

 

After 500-plus tonnes of import in first half of 2017, supported to a great extent by a 126 per cent surge in demand during the June quarter, imports are estimated to nosedive during the second half of the year, due to the implementation of the Goods and Services Tax (GST). By one estimate, the drop in imports could be a staggering 50 per cent, or about 250 tonnes, in the July-December period this year.

cent demand goods GST import jewellery quarter services tax tonnes