Commodities





Commodity News

Commodity Prices : MCX, NCDEX, NMCE, Spot Rates

Commodity Trading Tips

For medium and high value investors
For brokers,sub brokers and high value investors
For those who trade in just one commodity
For those who trade in Mini Lots

Equity Trading Tips

Intraday Futures and Option calls
Specially filtered 4 to 7 calls per day
For those who trade in just one commodity

Commodity Outlook

Reports

Last Updated :May 26, 13:58 IST
1290     (-40)
1136     (+4.5)
3362     (0)
Get MCX/NCDEX/NMCE Futures Rates
Last Updated :
Follow us on and for updates

India urges Russia to lift ban on commodities

 SHARE THIS STORY
0
0
Commodity Online
MUMBAI: The Indian Oilseeds and Produce Exporters Association (IOPEA) has urged the Russian government to lift the ban on imports of rice, peanut and sesame seed.

Russia had imposed a complete ban on import of these commodities originating from India citing poor quality with affect from May 1, 2007.

A team led by Commerce Secretary G K Pillai and IOPEA (EPC) chairman Sanjiv Sawla along with other official would meet their counterpart in Russia this week.

IOPEA officials said the team would discuss the issue with Russian authorities and ensure them that India would take proper measures to enhance the control of supplies of these commodities.

Indian government has been perusing the Russia authorities to have the ban lifted, said an official.

Earlier, Moscow had claimed to have found several consignments of Indian rice, groundnuts and sesame seeds contaminated with pests.

“Such bans are the ultimate steps taken by any authority or country and introduced after several consignments are rejected and not before giving warning to the Indian government, if the quality does not match the set standards,” said Sanjiv Sawla.

“Ban has happened by citing just one consignment of each commodity; that is 54 tonne peanut and 19 tonne sesame seed. This does not deserve a total ban on import of such commodities,” he said.

He further alleged that the Russian authorities did not inform India’s Export Promotion Council for oilseeds, oils and oilcakes, before rejecting the commodities.

“This is off the cut ban by them,” said Sawla.

The Indo-Russian Joint Study Group, which has been instituted for identifying the possibilities and obstacles of bilateral economic cooperation and trade, will also deliberate on lifting the ban on the commodities.
NCDEX GURMUZZAFFARNAGARJUL12 20 July 2012 contract was trading at Rs 0 . What's your view on it?
Post your comment  (0)
Connect:
Post to Twitter
Post to Facebook