Author: Editorial Desk

The Ammonium Sulphate market has so an uptick on price throughout August 2024, driven by a confluence of factors including raw material shortages, labor constraints, and robust export demand, particularly in Europe and Asia. Europe’s Ammonium Sulphate sector grapples with reduced production capacities, exacerbated by summer labor shortages and diminished raw material availability. Trade instability and export delays further compound the situation, leading to heightened import costs and severe supply chain disruptions. These pressures have contributed to a pronounced price escalation, straining the market considerably. In Asia, the scenario presents a similar pattern, with China at the epicenter of rising…

Rising imports of Chinese goods, including umbrellas, toys, and fabrics, are pressuring India’s Micro, Small, and Medium Enterprises (MSMEs), according to the Global Trade Research Initiative (GTRI). The report highlights the challenges domestic businesses face as they compete with cheaper Chinese products. From January to June 2024, India exported goods worth $8.5 billion, while imports reached $50.4 billion, resulting in a trade deficit of $41.9 billion. China remains India’s largest trade deficit partner. “China accounts for 29.8 per cent of India’s industrial goods imports. India must invest in deep manufacturing to cut dependence on import of critical industrial products from…

Malaysian Musang King durians have captivated Chinese consumers, commanding premium prices that eclipse offerings from other Southeast Asian countries. The fruit’s high value underscores Malaysia’s growing clout in China’s lucrative durian market, where these durians are fast becoming a status symbol. During a visit to Shenzen, Malaysia’s Agriculture and Food Security Minister, Datuk Seri Mohamad Sabu, observed Musang King durians being sold at an impressive RM350 (US$81) per fruit. These sought-after durians quickly sold out at Joy Ming Mau, a leading durian packaging and distribution company. The enthusiasm for Musang King durians isn’t confined to Shenzen. A supermarket in Zhengzhou…

The garment industry in Bangladesh, a dominant force in global clothing production, faces significant disruptions due to recent flooding. The situation has severely impacted cotton imports and garment exports further complicating an already stressed supply chain. As one of the world’s largest consumers of cotton, Bangladesh’s textile sector depends heavily on steady imports to sustain its operations. Flooding has now crippled transportation routes, with trucks and trains unable to move cotton from Chittagong port to factories, as reported by industry insiders and analysts. This supply chain disruption follows closely on the heels of political unrest and protests earlier in the…

The U.S. soybean export market faces a challenging situation, with early-season sales plummeting to historic lows. CoBank’s Knowledge Exchange has shed light on the situation, noting that while the initial pace appears dismal, this does not necessarily predict the outcome for the full marketing year. Several indicators suggest that U.S. soybean exports may yet experience a revival. Tanner Ehmke, the lead grain and oilseed economist at CoBank, has emphasized the obstacles confronting U.S. soybean exporters. Chief among these is a sharp decline in demand from China, the world’s largest buyer of U.S. soybeans. Ehmke remarked, “But a slow start to…

Egypt’s lesser-known super-mangoes are on the brink of penetrating Southeast Asia, a region traditionally dominated by its own mango producers. EastFruit highlights this unexpected development, as countries like Vietnam, the Philippines, Taiwan, Thailand, and Indonesia, the latter being the world’s second-largest mango producer, may soon face competition from Egypt’s premium fruit. Southeast Asia, despite being a significant exporter, also ranks among the largest importers of mangoes globally. Nations such as Malaysia, Hong Kong, Singapore, and Thailand lead in imports, with a significant portion sourced regionally, complemented by supplies from China and India. This substantial import market, reaching up to 150,000…

Russia is set to initiate cocoa imports from Nigeria, signaling a strategic realignment in its global trade approach. With the first shipments expected between September and October, Moscow aims to diversify its cocoa sources, responding to changing geopolitical dynamics and fluctuating supplies from traditional West African producers. Strengthening Economic Ties Maksim Petrov, Moscow’s trade representative to Nigeria, confirmed that Russian trading houses will manage these new cocoa imports. These firms, already involved in exporting products like frozen fish, alcohol, chocolate, and meat to Nigeria, are now expanding their portfolios. Three export agencies, established by Russian entrepreneurs, have been registered in…

Kazakhstan’s government has reinforced its commitment to domestic market stability by extending the petroleum export ban on diesel fuel and select petroleum products via road transport. This decision emerged from a high-level meeting of the Interdepartmental Commission on Foreign Trade Policy, chaired by Deputy Prime Minister Serik Zhumangarin. The focus remains on securing internal resources amidst global economic uncertainties. Kazakhstan has also taken decisive steps to strengthen its agricultural sector, imposing a temporary halt on apple imports from non-EAEU countries. The agriculture ministry forecasts a gross yield of 300 thousand tons of apples this year, with orchards set to reach…

The Palm Oil Market saw Malaysian palm oil futures reverse their upward trend on Tuesday, closing after a four-session rise. The benchmark November contract on the Bursa Malaysia Derivatives Exchange edged down by 2 ringgit, or 0.05%, settling at 3,922 ringgit ($902.65) per metric ton. A 1.4% gain earlier in the session failed to hold as market participants sought clarity in the face of conflicting global demand signals. China’s subdued purchasing activity contrasts sharply with an oversupply situation in India. Lingam Supramaniam, director at Pelindung Bestari, highlighted the market’s unease, pointing to India’s potential increase in import duties on edible…

Turkish exporters are facing mounting pressures as escalating labor and input costs diminish their global competitiveness. The economic downturn gripping Türkiye has amplified these challenges, with exporters increasingly struggling to secure orders, produce goods, and sustain their market presence. Dr. Hakan Cinar, President of the Türkiye-based Association of Foreign Trade Leaders (DISYONDER), recently sounded the alarm during an interview with Dunya. The sharp increase in labor costs, compounded by the surging prices of raw materials and semi-finished goods due to hefty customs duties and anti-dumping policies, has placed Turkish exporters in a precarious position. The cost of a minimum wage…