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Amid export boom, U.S. still imports natural gas from Russia

28 Dec, 2018

NEW YORK (Bloomberg) -- The U.S. may be exporting natural gas at a record clip, but that hasn’t stopped it from accepting imports of the fuel, including a shipment of Russian gas likely headed for Massachusetts.

Pipeline constraints, depleted stockpiles and a 98-year-old law barring foreign ships from moving goods between U.S. ports is opening the way for liquefied natural gas to be shipped from overseas with prices expected to spike as the East Coast winter sets in.

Chinese salt imports reach Cambodia at $100 per tonne

28 Dec, 2018

Salt imports from China are expected to sell at $100 per tonne in the Cambodian market, $25 more per tonne than local salt, according to the Salt Producers Community of Kampot-Kep (SPCKK).

The latest shipment of Chinese salt reached Phnom Penh Autonomous Port at the end of November, bringing the salt stockpile volume to 10,000 tonnes.

India to Cut Import Tax on Palm Oil: Government Source

29 Dec, 2018

A government source today (28th December) said that India is likely to cut short the import tax on palm oil, corresponding to New Delhi’s Trade Agreements with the Southeast Asian nations.

It must be noted that India imports palm oil from two countries i.e. Malaysia and Indonesia.

Earlier in 2018, India being the leading buyer of vegetable oils in the world had increased the import tax on crude palm oil from 30 % to 44 % while hiking the tax on refined palm oil to 54 % that was earlier 40 %..

Source: krishijagran.com

China allows US milled rice imports

29 Dec, 2018

China has begun to allow imports of milled rice from the United States to meet domestic demand, with experts saying on Friday the move will enhance bilateral trade in agricultural products.

Their comments came after the General Administration of Customs released details for the inspection and quarantine requirements relating to imported US rice on Thursday, after China agreed to import US rice in July 2017.

China had previously banned US rice imports owing to the absence of agricultural quarantine inspection agreements.

China e-commerce tax cut to boost imports of diapers and cameras

29 Dec, 2018

SHANGHAI -- China will dramatically expand tax incentives for online purchases from overseas in January, hoping to invigorate consumer spending and extend an olive branch to the U.S. by further opening its market.

China already waives tariffs for goods bought online and imported through warehouses in special tax-protected zones, and lowers value-added and consumption taxes to just 70% of the level applied to items imported through other channels.

India doubles export incentives for onion farmers to 10pc

29 Dec, 2018

NEW DELHI: The Indian government on Friday doubled export incentives for onion farmers to 10 percent, following steep drops in recent weeks in the prices for onions, a staple food in India.

The move will result in better prices for onions in the domestic market, the government said in a statement.

The export incentive program allows farmers to get a credit from the government, which can be used to pay various taxes.

Myanmar rice export declines within eight months

28 Dec, 2018

Myanmar only exported over 1.5 million tons of rice and broken rice within eight months from April 1 till December 14, according to Myanmar Rice Federation (MRF).

Myanmar earned about US$288 million from more than 800,000 tons of rice and broken rice export through border trade routes and over US$240 million from over 700,000 tons of rice and broken rice export via maritime trade, it said.

Traders lose some soyabean export contracts as rupee appreciates

28 Dec, 2018

Soyabean export contracts over 1 lakh tonne have been cancelled from India on account of the appreciation of the rupee, top industry officials said.

Soyabean export contracts over 1 lakh tonne have been cancelled from India on account of the appreciation of the rupee, top industry officials said. The impact, however, has been offset to some extent by exports to Iran between April to November 2018.

Nepal Government hikes export cash incentives to 5 percent

29 Dec, 2019

Nepal’s exportable goods will now be eligible to receive up to five percent cash incentive from two percent, as per the new provision introduced by the government in a bid to boost export earnings.

The Cabinet okayed the new provision last week to provide cash incentives of three to five percent to exportable goods based on their domestic value addition. Earlier, exporters used to receive cash incentives of one to two percent, provided the value addition inside the country was at least 30 percent.

S Korea's exports surpass $600b

29 Dec, 2018