Headlines For Jul. 20, 2024

India’s 3% Agricultural Export Decline Amid Global Crises

India’s Q1 agri exports decline 3% due to Red Sea crisis (malaysiasun.com)

India’s agricultural exports experienced a decrease of 3% in the first quarter due to the Red Sea crisis, higher freight costs, and logistics issues between China and the US.. The implementation of US tariffs on Chinese goods led to container shortages, which in turn affected maize exports and necessitated rice export controls. As a result, there is a ban on non-basmati white rice exports effective July 2023, with some humanitarian exemptions. However, as ongoing global regional crises continue to impact the broader economic and trade environment, a recovery for certain exports might be imminent as rice and cashews exports are expected to rise once the logistical challenges are resolved.