Friday, 13 October 2017

Maersk Line Pioneers First Store Door Reefer Import Of Confectionery Into Rudrapur, Uttarakhand

MUMBAI: Maersk Line, the global containerized division of the Maersk Group enables the first store door reefer import of confectionery for Perfetti Van Melle (India) Pvt Ltd into Rudrapur, Uttarakhand. The consignment of confectionery (gums) which left Leixoes, Portugal on the 17th of July reached Rudrapur in Uttarakhand on the 8th of September.
 
At present, reefer importers are currently importing to port and then trucking the cargo to their warehouses. This involves multiple vendor co-ordinations which affect their overall increased cost of logistics. Added to this are shortages of trucks during peak seasons which impact their production cycle.
 
Through Maersk Line’s pioneering offering, these challenges will be a thing of the past. The transportation time between the point of origin and the port reduce considerably, facilitating a one-stop solution closer to the place of origin of cargo.
 
Mr. Steve Felder, MD – Maersk Line (India, Sri Lanka, Bangladesh, Nepal, Bhutan, and Maldives), said, “Our constant efforts to provide a single-window simplified supply chain platform have enabled us to successfully carry out the First ever Store door of reefer import. We are committed to providing unmatched customer-centric services. This does synergize well with our belief of enabling the India growth story by providing customers with a definitive, cost-effective and viable logistical solution,” said a Maersk Line release.
 
 
 
Soures : Dailyshippingtimes.com


Textile Exporters Facing Difficult Times Leading To Constrained Growth: Icra

Indian textile exporters are facing difficult times since the past few months which have led to constrained growth as well as pressures on profitability, according to ICRABSE -0.78 %.
 
In a report released on Wednesday, ICRA said that exporters have been facing subdued demand trends in the key importing countries as well as intense competitive pressures from nations such as Bangladesh and Vietnam over the past few years.
 
In addition, unfavourable currency movements and high raw material prices in the past six to nine months as well as recent revision in duty drawback rates have only added to their woes. With exports accounting for more than one-third of the Indian textile market, this is a matter of concern, notwithstanding a large domestic market.
 
The slowdown in apparels segment has mainly been on account of subdued demand conditions in key textile-consuming regions of United States of America (US) and European Union (EU) which account for a majority of exports from India. This apart, cotton-yarn exports have been under pressure on account of a decline in demand from China, which used to account for more than 40% of total cotton yarn exports from India till last year and accounted for only ~17% of India’s cotton yarn exports in the first four months of FY2018. India appears to be the worst-affected nation amongst cotton-yarn suppliers to China, as is evident in a decline in India’s share in China’s cotton yarn imports to 8% in Q1 FY2018 vis-à-vis 20% and 25% in Q1 FY2017 and Q1 FY2016 respectively.
 
The pressures on textile exporters have become more severe with strengthening of Indian rupee against currencies of key competing nations during the current calendar year, which reduced competitiveness of Indian exporters vis-à-vis their counterparts.
 
Throwing more light on this aspect, Jayanta Roy, senior vice-president and group head, corporate sector ratings, ICRA says, “Notwithstanding the 2% depreciation in the Indian rupee vis-à-vis USD in the month of September 2017, the Indian rupee sustained its strong performance against currencies of most of the countries competing in the global textile space during much of the current calendar year.”
 
While the Indian currency has strengthened by ~5% against USD in 8M CY2017, currencies of other key nations competing in the textile space such as Vietnamese Dong, Bangladeshi Taka as well as Pakistani Rupee depreciated by 0.5-2% against USD during the same period.
 
Further, higher input prices (primarily cotton) this year vis-a-vis last year added to profitability pressures for exporters during H1 FY2018, given the cotton-dominance of textile exports from India. While cotton prices have corrected to an extent from mid-September 2017 onwards which is expected to provide respite during H2 FY2018, recent revision in duty drawback rates is likely to exert some pressure on margins. The Government of India has recently notified revised duty drawback rates under the GST regime which are applicable to exporters with effect from October 2017 onwards. There is a downward revision in duty drawback rates for most product categories in the textile sector under the GST regime, when compared with duty drawback rates for exporters claiming Cenvat under the earlier tax regime.
 
“Considering that GST rates for most product categories in textiles are in line with effective tax rates under the earlier tax regime and the extent of benefit from improved input credit chain post GST implementation remains to be seen. The overall impact of GST and the revised duty drawback rates on the sector is uncertain at present.” adds Roy.
 
Notwithstanding the pressures being witnessed on profitability, debt levels across the sector are expected to decline with the industry focusing on sweating the existing assets and thereby undertaking limited debt-funded capacity additions. Further, with cotton prices easing out from mid-September 2017 onwards, profitability pressures are likely to subside from Q3 FY2018 onwards. As a result, ICRA expects the financial and credit risk profiles of most textile exporters to remain stable.
 
 
 
Soures : economictimes.indiatimes.com


'Mission 2020' To Boost Cashew Export : Cashew Export Promotion Council

PANAJI: Following a suggestion from Suresh Prabhu, Union Minister of Commerce and Industry, the Cashew Export Promotion Council of India (CEPCI) is preparing a strategic business plan ‘Mission 2020’ aimed at boosting the cashew industry and exports of cashew kernels in particular. Mr. Prabhu made the suggestion at the venue of Kaju India 2017, the global cashew meet organised by the CEPCI in Goa from September 17 to 19.
 
CEPCI Chairman P. Sundran said that the suggestion for Mission 2020 from the Minister was one of the major achievements of the meet.
 
He said the Minister said that the Government would consider withdrawing the 5% duty on raw cashew imported outside the Advanced Authorisation Scheme. The CEPCI members brought to the attention of the Minister the threat posed by the Indian cashew sector from kernel import from Vietnam. The Minister said the Government would consider the suggestion to hike the import duty on kernels to 70%.
 
 
 
Soures : Dailyshippingtimes.com


Pharma Exports Declined By 4% In First Five Of Current Fiscal

HYDERABAD: Pharma exports from India registered a negative growth of 4 per cent during the first five months of the current fiscal owing to increased regulatory issues coupled with pricing pressure in global markets, a Pharmexcil official said.
 
According to Udaya Bhaskar, the Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), a Ministry of Commerce and Industry body, the pharma exports to other countries witnessed a decline of
 
7.9 per cent during the April-July period while recovered to 4 per cent in August leaving the over all groPharma Export, Pharmaceuticals, wth at minus four per cent till August this year.
 
"Till July, pharma exports registered minus 7.9 per cent growth. Subsequently it recovered in August and stood at minus four per cent. There was four per cent growth in August. Pricing pressure is one of the factors (for decline in exports). To some extent import alerts (by US FDA on Indian plants), regulatory issues and currency fluctuation, are some of the factors contributed to downward growth," Udaya Bhaskar told.
 
He, however, hoped that the overall exports will recover and come into positive zone for the full year as exports are expected to take an uptick from September.
 
 
 
 
Soures : Dailyshippingtimes.com


Oilmeals Export Revives With Rise Of 85% In April-September 2017

NEW DELHI: The export during September 2017 is reported at 115,083 tonnes compared to 109,309 tonnes in September 2016 i.e. up by 5%, as per data provided by The Solvent Extractors' Association of India. The overall export of oilmeals during April - September 2017 provisionally reported at 1,101,689 tonnes compared to 594,529 tonnes during the same period of last year i.e. up by 85%.
 
In last Six months, the export of oilmeals improved compared to the previous year, thanks to good monsoon, better oilseeds production and price parity. It may be also be noted that India faced drought years during 2014-15 and 2015-16, which lead to lower production of oilseeds which affected export of oilmeals to the lowest level, however with good monsoon last year, export has revived to some extent.
 
 
 
Soures : Dailyshippingtimes.com