Browse Data and Analysis

On March 29, 2022, India’s Ministry of Commerce and Industry MOCI) issued Notification No. 63/2015-2020. This notification extends the unrestricted (free) import policy for pigeon peas (Cajanus cajan) and urad/black gram lentils (Vigna mungo) to March 31, 2023 (favorable treatment had been set to expire on March 31, 2022).

The Indian government is prioritizing the country's food processing sector. The sector has a key role in connecting Indian farmers to domestic and international markets.

Post’s marketing year (MY) 2022/2023 rice harvested area and production forecast is 11.75 million hectares and 36.32 million metric tons (MT), respectively. Local prices of rice, wheat, and corn hit record highs in March 2022 and the Russian invasion of Ukraine has increased volatility. Post forecasts MY 2022/2023 wheat at 7.5 million MT and corn imports at 2.3 million MT.

India’s oilseeds production in marketing year (MY) 2022/23 (October-September) is expected to extend its momentum and reach 42.1 million metric tons (MMT), a one percent increase over the MY 2021/22 crop. Both rising animal feed demand and the anticipated growth in oilseed supply will further increase oil meal production by two percent to 20.7 million metric tons.

Australia and India have signed a new trade agreement, the Australia-India Economic Cooperation and Trade Agreement (AI ECTA). More than 85 per cent of Australian goods exports will have tariffs eliminated.

On March 3, 2022, the Food Safety and Standards Authority of India (FSSAI) published a guidance document on the elimination of trans fats. The FSSAI document advises food manufacturers to test their products for trans-fats.

On March 15, 2022, the Sri Lanka Standards Institution (SLSI) notified draft amendment standards (number 1) for Sri Lanka Standards (SLS) 1534:2016 for instant noodles to the World Trade Organization (WTO). WTO members are invited to submit comments on notification G/TBT/N/LKA/50. The comment period expires on May 15, 2022.

On March 16, 2022, the Food Safety and Standards Authority of India (FSSAI) published a guidance document and new standard operating procedures setting maximum residue limits for pesticides in agricultural commodities and products. The commodities and products covered include: (a) feeds and fodder, (b) milk and milk products, and (c) meat and meat products.

FAS Mumbai (Post) wishes to bring to the attention of U.S. exporters of alcoholic beverages the possibility of participating in some of India’s upcoming key wine and distilled spirits tradeshows in 2022 – Brews and Spirits Expo 2022 (July 6-7), VIN-Expo 2022 (August 18-20), and ProWine 2022 (October 17-18).

Edible oil prices have been trending higher and are now increasingly volatile due to poor market transparency and the Russian invasion of Ukraine. Post forecasts MY 2022/2023 soybean imports up to 2.8 million MT, while local soybean production remains flat.

FAS Mumbai (Post) forecasts MY 2022/23 cotton production will increase by five percent to 27.7 million 480 lb. bales on an area of 12.7 million hectares, two percent higher than last year. Yields are expected to improve by two percent to 475 kilograms per hectare on the expectation of a normal monsoon.

On January 26, 2022, the Sri Lanka Standards Institution (SLSI) notified draft amendment standards for soya (soy) sauce to the World Trade Organization (WTO). WTO members are invited to provide comments on notification G/TBT/N/LKA/48.