Author: Editorial Desk

Japan’s trade balance remained in the red for the fourth consecutive month in October, as high import costs driven by a weaker yen and surging energy prices outpaced recovering exports. The trade deficit for the month stood at ¥461 billion ($3 billion), according to data released by the Ministry of Finance on Wednesday. Exports showed signs of recovery, growing 3.1% year-on-year in October, primarily due to an uptick in semiconductor production equipment shipments. However, imports also increased by 0.4% from the previous year, maintaining the deficit trend. Challenges and Uncertainties Japan’s trade outlook is clouded by several factors, including…

French farmers escalated their protests against the European Union-Mercosur trade agreement on Monday, citing concerns over unfair competition and risks to their livelihoods. The agreement, aimed at bolstering trade between Europe and South America, has triggered widespread demonstrations as farmers argue it could overwhelm the French market with South American agricultural imports that do not meet stringent EU environmental and health standards. In Beauvais, northern France, around 50 tractors blocked traffic, and protesters barricaded a government office with manure and tires. Later, they moved to the local prefecture, setting up a noisy camp. Similar demonstrations occurred across the country, with…

Officials from Turkmenistan and Kyrgyzstan are advancing plans for a multimodal transportation corridor through the Caspian Sea to bolster trade between Central Asia and Europe. This strategic initiative, discussed during a virtual meeting on November 13, aims to enhance regional connectivity and international trade routes. The meeting, attended by Mammetkhan Chakyyev, head of Turkmenistan’s Transport and Communications Agency, and Bakyt Torobayev, Kyrgyzstan’s Minister of Water Resources, Agriculture, and Processing Industry, also covered potential collaboration in energy, transport, infrastructure, agriculture, and trade. The discussions underscored the importance of strengthening trade relations and increasing cargo flow through the Caspian Sea, creating new…

Iran’s pistachio industry, a key export sector, faces a major setback after the European Union rejected over two dozen shipments due to high aflatoxin levels. The crisis threatens not only EU exports but also the global reputation of Iranian pistachios. Despite stricter EU aflatoxin standards introduced in 2022, Iranian authorities failed to act promptly, leading to the rejection of 26 shipments out of 7,500 tons exported annually to the EU. “This issue should have been resolved six months ago instead of looking for solutions now,” said Abdollah Mohajer Darabi, a board member of the Iranian Chamber of Commerce. Deputy Minister…

Russia has imposed temporary restrictions on the export of enriched uranium to the United States, escalating tensions in the ongoing geopolitical and energy resource disputes between Moscow and Washington. The decision, signed on November 14, 2024, took effect on November 15 and is seen as a direct response to US sanctions on Russian uranium products. In August 2024, US President Joe Biden enacted a law banning the import of unenriched and low-enriched uranium from Russia. The legislation also closed loopholes, prohibiting mechanisms such as swap transactions involving Russian uranium. A complete ban on all Russian uranium imports to the US…

Kenya imported goods and services worth $3.481 billion from China in 2023, making it the country’s largest trading partner. This figure is lower than the 2021 peak of $4.22 billion, according to the ‘Overview of Kenya’s Trade Landscape, 2023’ report commissioned by the UK government. The report lists the UAE, India, Saudi Arabia, Malaysia, the United States, Japan, Russia, South Africa, and Egypt among Kenya’s top import sources. Petroleum products accounted for 23% of imports in 2023, followed by industrial machinery (7%), iron and steel (6%), and edible oil (5%). Kenya-China Trade Overview Total trade between Kenya and China in…

The FAO’s biannual report projects the global food import bill will exceed $2 trillion in 2024, driven largely by rising costs of cocoa, coffee, and tea. These commodities account for over half of the 23% increase in food import expenditures, with significant disparities across income levels. Commodity Price Increases Cocoa prices have reached nearly four times their ten-year average, coffee prices have almost doubled, and tea prices are 15% above long-term levels. High-income countries, comprising two-thirds of the global food import bill, are expected to see a 4.4% increase in costs. Meanwhile, middle- and low-income countries may benefit from reduced…

Dr. Ngozi Okonjo-Iweala, Director General of the World Trade Organization (WTO), has called on G20 nations to halt the imposition of new trade restrictions, warning that such measures could exacerbate global economic uncertainty. Her statement follows findings from the 31st WTO Trade Monitoring Report, revealing a significant increase in the scope of trade-restrictive measures implemented by G20 economies over the past year. The report, released on Wednesday, highlighted that while G20 economies introduced both trade-facilitating and trade-restrictive policies, a growing tendency toward inward-looking and unilateral decisions is raising concerns. Dr. Okonjo-Iweala stressed that these actions create uncertainty, contribute to shortages,…

As Q4 2024 progresses, Sodium Benzoate Excipient—a vital chemical used across pharmaceuticals, food additives, and animal feed—faces global price increases, primarily driven by rising demand across sectors and widespread inventory replenishment. This compound’s central role in essential formulations has contributed to these heightened market dynamics. In Germany, Sodium Benzoate Exp. prices have risen as manufacturers adjust rates amid ongoing supply chain challenges. Although Germany’s manufacturing sector remains in contraction, it showed signs of recovery in October, with the PMI rising to 43 from 40.6 in September. This slight improvement has influenced Sodium Benzoate procurement, encouraging cautious inventory rebuilding within downstream…

A recent United Nations report has exposed Yemen’s Houthi rebel group for allegedly importing oil and gas through falsified documents, bypassing international sanctions and generating substantial revenue. According to findings from a UN Security Council panel, the Houthis may have earned nearly $4 billion over two years through these activities, with fuel shipments arriving at key Red Sea ports under Houthi control. The report, following an in-depth investigation into Houthi financial practices, highlights evidence that Houthi-controlled companies have imported oil and liquefied petroleum gas (LPG) under false country-of-origin certificates. Between April 2022 and June 2024, customs duties collected at these…