Author: Editorial Desk

The U.S. Department of Commerce has sharply increased duties on Canadian softwood lumber, pushing the rate from 8.05% to 14.54%. This move has drawn swift condemnation from Canadian officials and industry leaders, who view the action as both unfounded and damaging. This duty increase reflects U.S. concerns that Canadian lumber is being sold below market value, a claim supported by the U.S. Lumber Coalition. The coalition argues that Canada’s pricing practices distort the U.S. market, compounding the difficulties faced by American sawmills. “Lumber demand and prices are at record lows and mills across the country are struggling to keep afloat,”…

Kazakhstan solidifies its position as a key player in global agricultural exports, delivering an impressive array of products to over 80 countries. Dairy products reach South Korea, while horse meat finds its way to Japan, reflecting the country’s expanding influence among the top 25 global food exporters. Kazakhstan’s agricultural portfolio features a wide range of goods: livestock, honey, dairy, sausages, and preserved foods. These products are destined for markets across the Eurasian Economic Union (EAEU), Commonwealth of Independent States (CIS), and further afield. Key trading partners include Uzbekistan, Azerbaijan, Iran, China, Mongolia, the UAE, Saudi Arabia, and Japan, demonstrating Kazakhstan’s…

Korean chicken products, notably the traditional ‘samgyetang’ ginseng chicken soup, now have a place on British tables. The British government has approved the import of these delicacies, marking a significant milestone for Korea’s food export ambitions, as revealed by the Ministry of Agriculture, Food and Rural Affairs. This breakthrough follows Korea’s recent success in entering the European Union market, where samgyetang, dumplings, and frozen precooked chicken products began shipping earlier this year. Britain, boasting Europe’s second-largest economy, presents a lucrative opportunity, complementing Korea’s $20 million global chicken exports across 28 countries in 2022, including the U.S. and Canada. Diplomatic efforts…

India has planned to expand grape exports to New Zealand, aiming to strengthen fruit trade relations between the two nations. Recent high-level discussions between India’s Union Agriculture Minister Shivraj Singh Chouhan and New Zealand’s Agriculture, Forestry, and Trade Minister Todd McClay lead to the Initiative. Minister Chouhan called for swift approval of India’s newly audited vapor heat treatment facilities in Lucknow and Delhi. These facilities are pivotal for ensuring the quality and compliance of Indian fruits destined for international markets. By securing this approval, India seeks to expedite market access for its grapes, a move set to significantly bolster the…

South Africa’s global export share has steadily declined since 2010, signaling an urgent need to revamp industrial policies to enhance international competitiveness. Busi Mavuso, CEO of Business Leadership South Africa (BLSA), advocates for a strategic shift towards empowering export industries, particularly small businesses poised for growth in neighboring markets and services exports. The World Bank’s recent analysis reveals a troubling lag in South Africa’s trade performance relative to its overall economic expansion. The dominance of large firms in minerals and agriculture contrasts sharply with the underperformance of the manufacturing sector, with only the automotive industry showing some resilience. Services exports,…

Thailand is intensifying efforts to strengthen economic ties with neighboring countries, as Prime Minister Srettha Thavisin directs government agencies to embrace trade and investment policies that foster international cooperation. This strategic move seeks to expand border and cross-border trade, a critical engine driving the nation’s economic momentum. Government spokesperson Chai Wacharonke revealed on August 11 that these initiatives are expected to stimulate positive economic sentiment. The Thai Commerce Ministry, assigning the Department of Foreign Trade the task of overseeing border trade, underscores the administration’s dedication to ensuring continued growth in this sector. The first half of 2024 demonstrates encouraging results,…

Seoul Semiconductor has achieved a significant milestone, securing the top position in the global backlight LED market for the first time. With a commanding 16.5% market share in 2023, according to data from Omdia, the company has established itself as a formidable force within the opto-semiconductor industry. Renowned for cutting-edge LED products and optical solutions across a spectrum of applications, Seoul Semiconductor continues to push the boundaries of what’s possible in lighting, automotive, and display technologies. Its success largely stems from the company’s pioneering WICOP technology—a no-wire, no-lens LED innovation that enables ultra-compact sizes and unparalleled efficiency. This breakthrough has…

Commerce and Industry Minister Piyush Goyal has announced the reinstatement of the Diamond Imprest Licence, a pivotal policy designed to boost India’s diamond export industry. The announcement was made at the prestigious India International Jewellery Show (IIJS) 2024, under the aegis of the Gem and Jewellery Export Promotion Council (GJEPC). The Diamond Imprest Licence, crucial for duty-free importation of cut and polished diamonds up to a specific threshold, aims to elevate India’s global positioning within the gems and jewellery sector. Exporters, now authorized to import cut, polished, and semi-processed diamonds—restricted to 5% of their average turnover over the past three…

The fresh produce sector faces a complex landscape defined by economic pressures, environmental demands, and shifting consumer behaviors. Industry expert Wolk, speaking at the International Fresh Produce Association (IFPA) gathering, underscored these challenges as reflective of broader global dynamics reshaping the food industry. Farmers worldwide experience a cost-price squeeze while consumer spending tightens. South Africa’s inflation rate eased to 6% in 2023 from 6.9% in 2022, yet a Euromonitor International survey indicated that 86% of participants perceive rising produce prices, independent of actual trends. This perception drives consumers to prioritize value, with many gravitating towards loyalty programs, private labels, and…

China has escalated its trade conflict with the European Union by filing a formal complaint with the World Trade Organisation (WTO) over newly imposed EV tariffs on Chinease electric vehicles. The Chinese government’s move signals a challenge to EU measures that could reshape global trade in the rapidly growing green technology sector. The complaint, lodged by China’s Commerce Ministry, accuses the EU of violating WTO regulations through provisional tariffs ranging from 17.4% to 37.6%, which come on top of an existing 10% duty on Chinese auto imports. According to Beijing, these actions undermine international cooperation on climate goals and threaten…