Export and Import Business’s latest news update of August-2022.| import export August 2022.



Export and Import Business’s latest news update of August-2022.| import export August 2022.

1.India and the UK aim to conclude the free trade agreement by the end of October this year, commerce and industry ministry said in a statement on Thursday, adding that the two countries concluded the fifth round of talks for the agreement on July 29.

2.Demand from US, Japan, new markets revives mango exports
Resumption of orders from the US and Japan, new markets such as Argentina, and at least 50% higher per unit realisation have helped revive India’s mango exports. Exports of the fresh fruit to Japan have doubled to 50 tonne in the current season from 24.52 tonne exported in 2021-21 while around 1,000 tonne mangoes have been exported to the US.

3.India’s seafood exports rose 15 per cent on-year to USD 1.99 billion in the first quarter ended June 2022, a senior official said on Friday. “In 2021-22, total exports were 7.76 billion, a jump of 30 per cent over FY21,” Marine Products Export Development Authority (MPEDA) Chairman K N Raghavan said.

4.Edible oil imports rose 31 per cent to 12.05 lakh tonnes in July amid a fall in global prices of palm, soyabean and sunflower oils since June, according to industry data. The import of edible oils stood at 9.17 lakh tonnes in the same month last year.
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