latest Market News

Basmati rice exports to Iran may take a hit this fiscal. Information trickling in from Indian rice trade sources indicates that Iran has just reworked its multiple exchange rate system to circumvent sanctions and rice importers in Iran will now have access to the open market exchange rate with a 2% discount.   This means that the Iranian rice importer will now have to shell out Rs 23,000 to Rs 25,000 rials (or 2,300 to 2,500 toman)...

  • Posted on : Monday , 26th November 2012
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NEW DELHI: India has asked Iran to lay down clear norms for wheat imports from the country in order to avoid further delay by the Iranian quarantine department, which is yet to give quality clearance to Indian shipments.   "We have said that Iran should specify quality standards that are linked to international ones for the wheat that they want to import and we will identify the exportable wheat accordingly. We do not want any more...

  • Posted on : Friday , 23rd November 2012
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The rupee strengthened by 23 paise to Rs 54.83 against the US dollar in early trade today at the Interbank Foreign Exchange on sustained dollar selling by exporters and banks amid sustained foreign capital inflows.   A higher opening in the domestic equity market supported the rupee, dealers said.   They, however, said, dollar's strength against the euro following the decision by Moody's to downgrade French debt capped the rupee's...

  • Posted on : Wednesday , 21st November 2012
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Kochi, Nov. 19:The cardamom market gained last week on good buying support from both exporters and upcountry buyers at auctions held in Kerala and Tamil Nadu.   An estimated 35 tonnes of cardamom were bought by exporters. North Indian dealers and stockists were also active by covering good quantities.   Boycott of auctions for over a month recently during the purchasing period for Diwali by the traders in protest against raising of...

  • Posted on : Wednesday , 21st November 2012
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November 18, 2012:  The Central Government owns 12 ports. Although these ports are referred to as major ports in common parlance, only eleven are ‘Major Port Trusts’ as per law, and the twelfth is a corporate entity. Some time back, the Government decided to convert Port Blair and the ports in Andaman & Nicobar Islands into a Major Ports but the decision could not be implemented.   The Maritime Agenda of the Shipping...

  • Posted on : Wednesday , 21st November 2012
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