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Indian cotton exports to decline 45pc this year

India’s cotton exports are likely to decline by 45% this year (October – September) on falling demand from its perennial importers i.e. China and Bangladesh. Trade sources estimate cotton exports between 6.5-7 million bales (1 bale = 170 kgs) this year as against 11.8 million bales shipment estimated by the Cotton Advisory Board (CAB) during last year. cottonWith lower exports estimates, India will remain surplus with cotton leading to steep fall in prices this year. Parth Mehta, Joint Managing Director of Bhadresh Traiding Corporation, Indi...

Tea prices down for second week

Tea prices in Bangladesh fell for a second straight week at the weekly auction on Wednesday due to higher supplies but strong demand for quality leaf capped the slide and sales rose. [caption id="attachment_10423" align="alignleft" width="300"]tea cup Bangladeshi tea fetched an average of 181.37 taka ($2.34) per kg at the auction, down from 185.70 taka at the previous sale held on Oct. 28.[/caption] Bangladeshi tea fetched an average of 181.37 taka ($2.34) per kg at the auction, down from 185.70 taka at the previous sale held on Oct. 28, said an execu...

Dollar stable against taka, hit record low against yen  

It was a busy week for central banks around the world, with monetary policy meetings in the US, NZ and Japan. This made for a very interesting end to the week for the FX markets as investors digested the deluge of information coming from policymakers. Market observers say the lingering impact of these game-changing meetings, and possibility of fireworks in this week’s policy meeting in Europe as well, may continue to influence investor sentiment for some time to come as the market reassesses prior assumptions about the trajectory of monetary policy in these countries. dollar

Shrimp export growth slowing on weak demand

Shrimp exports are facing a slowdown in the wake of reduced demand for locally-grown black tiger shrimps in major markets. An increased supply of vannamei or white shrimps from other exporting countries and their reduced prices account for the slowdown. MDG : Bangladesh Shrimp industryBuyers are more interested in low-priced vannamei than in expensive black tiger shrimps, said Khan Habibur Rahman, deputy managing director of Lockpur Group, a leading seafood exporter, reports TheDailyStar. Shrimp exports rose 3.59 per cent year-on-year ...

Bangladesh to export 50,000 T rice to Sri Lanka

Bangladesh will export 50,000 tonnes of rice to Sri Lanka for the first time under a government-to-government deal at $450 a tonne including cost, freight and insurance, Food Minister Mohammad Karmul Islam said on Monday. bangladeshi_rice_400Strong output and good government stocks have prompted the Bangladesh government to initiate the plan to export rice. “We have sufficient stock, and our production is also good. So there will be no crisis due to rice export,” a Bangladesh food ministry official said. In Sri La...

Northeast India turns to Myanmar, Bangladesh for rice

Transport bottlenecks have forced India’s northeastern states to procure much needed rice from neighbouring Myanmar and Bangladesh. The Indian government has floated bids to import rice from Myanmar for Manipur and Mizoram. The Food Corporation of India (FCI) is ferrying rice from other parts of India via Bangladesh for Tripura. riceThe poor transport connectivity in some northeastern states worsened after train services from the rest of India were halted in southern Assam Oct 1, snapping rail connection to Tripura, Manipur and Mizoram. This has...
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