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India’s export of organic products up 39%
October 25, 2018
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Mumbai: India exported 458 thousand tonnes of organic products worth $515 million in 2017-18 − around 39 per cent higher from the previous year, said Agricultural and Processed Food Products Export Development Authority in a release on Tuesday.

APEDA said there is “constant increase” in the demand for Indian organic food products from countries such as the US, European Union, Canada, Switzerland, Australia, Israel, South Korea, Vietnam, New Zealand and Japan.

The major demand is for oilseeds, cereals and millets, sugar, fruit juice concentrates, tea, spices, pulses, dry fruits, medicinal plant products, according to the authority.

Under the National Programme for Organic Production (NPOP), the area under cultivation during 2017-18 was 3.56 million hectares.

Though the US, European Union and Canada were the biggest buyers of organic products, many others such as Israel, Vietnam, Mexico have started showing interest now, said Tarun Bajaj, General Manager, APEDA.

“The equivalency granted by European Commission and Switzerland for unprocessed plant products and the conformity assessment granted by USDA has played a pivotal role in increased export to these countries,” the release quoted Bajaj as saying.

“India is also negotiating with Canada, South Korea, Taiwan and Japan for equivalency with NPOP.”

Meanwhile Adani Ports reported a 38.36 per cent decline in its net profit for the second quarter ending September.

The company said in a stock exchange filing that its profit after tax (PAT) for the second quarter declined to Rs 614.23 crore, from Rs 997.04 crore in the same period last year.

In addition, it reported a sequential decline of 11.92 per cent in PAT from Rs697.40 crore earned in the previous quarter.

Total revenue for the quarter in consideration, slipped by Rs39.8 crore to Rs2,922.32 from Rs 2,962.12 in the same period last year.

“Indian rupee depreciated by 5 per cent in Q1FY19 and by 6 per cent in Q2FY19. Thus, we have provided mark to market loss of Rs 953 cr in H1FY19 compared to a mark to market loss of Rs47 crore in H1FY18 on our foreign currency loans. This has resulted in reporting lower PBT (profit before tax) and PAT,” a company statement said.

Adani Ports stocks closed on Tuesday Rs318.25 a share, up by Rs3.55, or 1.33 per cent, from its previous close on BSE.

India’s cotton production in 2018/19 is likely to fall 4.7 per cent from the previous season to 34.8 million bales, as scant rainfall and an attack of pink bollworms are expected to squeeze crop yields, the head of a leading trade body told Reuters.

The drop in output could limit exports from the world’s biggest producer of the fibre amid rising demand from top consumer China and in turn support global prices, which are hovering near their lowest level in more than nine months hit last week.

“In Gujarat, we are expecting a big drop in production due to dry weather,” said Atul Ganatra, president of the Cotton Association of India.

Gujarat, the country’s top cotton producing state, received 28 per cent lower rainfall than normal in the June-September monsoon season, according to the India Metrological Department.

Indo-Asian News Service

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