Author: Editorial Desk

Turkish exporters are facing mounting pressures as escalating labor and input costs diminish their global competitiveness. The economic downturn gripping Türkiye has amplified these challenges, with exporters increasingly struggling to secure orders, produce goods, and sustain their market presence. Dr. Hakan Cinar, President of the Türkiye-based Association of Foreign Trade Leaders (DISYONDER), recently sounded the alarm during an interview with Dunya. The sharp increase in labor costs, compounded by the surging prices of raw materials and semi-finished goods due to hefty customs duties and anti-dumping policies, has placed Turkish exporters in a precarious position. The cost of a minimum wage…

Nigeria, the world’s eighth-largest producer of pineapples, faces a staggering daily loss of N50 million due to imports from countries like Ghana and Togo. Despite producing around 1,607,200 metric tons annually, pineapple imports of Nigeria from nations ranked significantly lower in global production, as highlighted by agriculturist Ambassador Oluwasegun Alabi during a recent press conference at the National Assembly. While Nigeria’s production is substantial, it only meets half of its domestic demand for pineapples. This shortfall forces reliance on imports, even as global demand for the fruit rises, particularly from Asian markets. Yet, Nigerian pineapples often fall short of international…

Canada has escalated trade tensions by imposing a 100% tariff on Chinese-made electric vehicles, a move that aligns with recent U.S. and European actions. Prime Minister Justin Trudeau announced the decision at a cabinet retreat in Halifax, Nova Scotia, pinpointing China’s trade practices as the catalyst. Currently, Tesla stands as the sole importer of Chinese-made EVs into Canada, sourcing vehicles from its Shanghai factory, with no other Chinese-branded EVs present in the Canadian market. This strategic decision reflects growing concerns over China’s influence in global trade. Trudeau’s administration also introduced a 25% tariff on Chinese steel and aluminum. The rationale…

Ireland has stepped up its support for global food safety and trade, contributing €200,000 (approximately CHF 190,000) to the Standards and Trade Development Facility (STDF). This latest contribution raises Ireland’s total support to over €2.9 million (CHF 2.8 million) since 2007, highlighting its ongoing dedication to ensuring safer and more equitable global trade. The World Trade Organization (WTO), a key partner in the STDF, expressed gratitude for Ireland’s unwavering support. WTO Director-General Ngozi Okonjo-Iweala emphasized the tangible benefits of this funding, particularly for small-scale farmers and producers in developing and least-developed countries (LDCs) who often face steep challenges in meeting…

Union Home Minister Amit Shah has declared that the illicit drug trade extends far beyond India’s borders, labeling it a global menace that requires immediate and strategic action. Addressing a meeting in Nava Raipur, Chhattisgarh, on Sunday, Shah articulated a bold and comprehensive plan to combat the escalating threat of narcotics. Shah aligned his message with Prime Minister Narendra Modi’s vision of a drug-free India by 2047, urging every citizen to embrace this mission. He emphasized that eradicating the drug trade is crucial for safeguarding national security, fostering economic prosperity, and protecting the youth. The Home Minister detailed a four-pronged…

Global agricultural trade now faces increasing hurdles as nations intensify their use of protectionist tactics to control domestic supplies and prices. Recent actions such as Turkey’s wheat import ban and India’s non-basmati rice export restrictions reflect this shift. Coupled with tariffs and stricter sanitary regulations, these moves mark a trend away from multilateral agreements toward a patchwork of bilateral and regional policies. The August 2024 report by World Grain captures this evolving landscape. Stephen Nicholson, Executive Vice President at Rabo Bank, offers a perspective drawn from decades of experience: “I don’t remember quite this serious of a protectionist phase in…

July 2024 marked a notable shift in Mexico’s poultry trade, with imports of Brazilian chicken more than doubling from previous months. This significant rise stems from a combination of economic strategies and targeted policy changes, reshaping the dynamics between the two nations. The sharp hike in Brazilian chicken imports ties directly to Mexico’s strategic efforts to combat inflation and secure food supplies. The 2022 introduction of the Paquete Contra la Inflación y la Carestía (PACIC) by the Mexican government played a crucial role. By removing tariffs on imported meats, including chicken, PACIC made Brazilian poultry a more attractive option for…

India has overtaken China as the largest importer of Russian oil, reshaping global energy markets. In July, India imported a record 2.07 million barrels of Russian oil per day, outpacing China’s 1.76 million barrels per day—a 7.4% year-on-year decline and the lowest figure recorded this year. This shift signals a crucial moment for Russia’s economy, already heavily impacted by sanctions following its 2022 invasion of Ukraine. With much of Europe no longer a viable market, Russia has turned to the world’s most populous nations, India and China, to sustain its oil exports at significantly reduced prices. Chinese-Russian trade has surged…

Japan’s seafood industry is grappling with a sharp 16.9% drop in exports, a consequence of international backlash over the release of treated water from the Fukushima Daiichi nuclear plant. A year after the water discharge began, the impact on global trade has been profound, reshaping Japan’s maritime economy. China, a major consumer of Japanese marine products, reacted decisively, halting all imports. Hong Kong followed suit, banning imports from 10 Japanese prefectures, including Fukushima and Miyagi—regions directly associated with the nuclear plant. These restrictions sent shockwaves through Japan’s export market, which saw total seafood exports from September last year to June…

Thailand’s durian industry has strengthened its grip on the Chinese market, as second-quarter shipments of the prized fruit surged, recovering from an earlier decline this year. This uptick aligns with the seasonal harvest and reflects Thailand’s well-established reputation for quality. China Customs data reveal a substantial rise in durian imports from Thailand, reaching nearly $2.67 billion. This figure now represents 75% of China’s total fruit imports, a notable leap from the 42.5% recorded during the first quarter of 2024. Thailand’s dominance extended through 2023, capturing 68% of China’s durian market share. Vietnam, though an emerging competitor, supplied nearly the remainder…