Sharp decline in global food prices

World food prices declined sharply in March, driven mostly by demand-side contractions linked to the effects of the COVID-19 pandemic and the drop in global oil prices due mostly to expectations of economic slowdown as governments roll out restrictions designed to respond to the health crisis, the UN food agency said in its latest monthly report. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodiies, averaged 172.2 points during the month, down 4.3 percent from February. “The price drops are largely driven by demand…

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Dedicated mobile app to help drivers stranded on highways

Locus, leading B2B SaaS company, that specializes in automating human decisions in supply chain, has initiated the ‘Driver Seva mobile app’ project along with Highway Delite, a travel app startup, to do its bit in easing the situation for the truck drivers who are stuck on highways due to the lockdown. This project is supported by oil marketing major Bharat Petroleum in association with the All India Motor Transport Congress. Agarwal Packers and Movers (APML) is also a partner in this initiative. This app aims to help drivers in the…

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FIEO offers digital certification of origin facility

Leading industry chamber of Indian exporters FIEO has started the facility of the digital certificate of origin (both non-preferential and preferential, for which it is authorized) using FIEO’s online CoO system. The facility will reduce the transaction time and cost of exporters also. The facility is expected to help exporters in sending CoO electronically to buyers to help them clear the consignment particularly as most of the courier companies are not operating in the country. Many of the countries are now accepting scanned /digital copies of the Certificate of Origins. FIEO is also updating information…

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Major ports not to charge penalty for COVID-19 linked delays

In wake of outbreak of COVID-19 and same being declared as Pandemic, the Government of India has imposed a lockdown for a period of 21 days to contain COVID-19 Pandemic in the country. Ministry of Home Affairs has issued an addendum, specifically giving exceptions to the operations of Seaports for cargo movement and inter-state movement of Goods/cargo for inland and exports to ensure regular supply of goods in the country. In accordance to the above and on receipt of representations from various stakeholders, the Ministry of Shipping on 24th March,…

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Warehouse, FPO modules added in e-NAM platform

The Union Minister of Agriculture & Farmers’ Welfare, Rural Development and Panchayati Raj, Narendra Singh recently launched new features of National Agriculture Market (e-NAM) Platform   to strengthen agriculture marketing by farmers which will reduce their need to physically come to  wholesale mandis  for selling  their harvested produce, at a time when there is critical need to decongest mandis to effectively fight against COVID-19. These software modules are namely (i) Warehouse based trading module in e-NAM software to  facilitate trade from warehouses based on e-NWR (ii)  FPO trading module in e-NAM…

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Domino’s Pizza- ITC Foods partner to deliver essential items

Domino’s Pizza, India’s largest and most trusted pizza delivery brand, in partnership with ITC Foods, one of the fastest growing packaged food businesses in India, has launched “Domino’s Essentials”. The delivery infrastructure of Domino’s will be leveraged to help customers order everyday grocery essentials offered by ITC Foods, India’s most trusted packaged staple brand. A combo pack of Aashirvaad Atta and Spices including chili, coriander and turmeric powder will be available on Domino’s app. This service will be available for consumers first in Bengaluru and then in the cities of Noida,…

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Snapdeal joining hands with Kisan Mandis to boost supplies

 Snapdeal, India’s leading value-focused e-commerce marketplace, has resumed operations in 96 cities covering more than 15,000 pin codes. Other than metro cities, the list also covers smaller cities like Agra, Bhopal, Dehradun, Jalandhar, Kanpur, Lucknow, Jaipur, Kota, Nashik, Patna, Raipur, Surat etc.   The current operations cover essential goods in high demand and include grocery items like rice, tea, coffee, atta etc. Also, supplies of household cleaning supplies are being prioritized.   To boost supplies, Snapdeal has tied up with local grocers and wholesalers to make fast intra-city deliveries. It is also…

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Lifting of restriction on freight movement draws mixed response

India’s battle against the deadly Coronavirus may be far from reaching a conclusive stage, but the government surprised all by lifting restrictions on road transportation of non-essential commodities across the country early last week…   To read complete report, please visit: https://www.indoasiancommodities.com/2020/03/31/lifting-of-restriction-on-non-essential-commodities-draws-mixed-response/

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Free service for Bajaj Auto commercial vehicles

Bajaj Auto, the world’s favourite Indian has extended their free service and warranty period for both two wheelers and commercial vehicles. This decision comes in the wake of the 21 day nation-wide lockdown announced to combat the virus. In the commercial vehicle category, any vehicle (3W / Qute) for which free service – i.e. 1st / 2nd/ 3rd is getting due till 30th April 2020 (as per timelines), time validity will get extended by 2 months. Additionally, any vehicle for which warranty is getting matured (expired) between March and April (up to 30th April)…

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NEC India to be spearheaded by Aalok Kumar

NEC Corporation and NEC Technologies India last week announced the appointment of Aalok Kumar as the new President and Chief Executive Officer (CEO) of NEC Technologies India. Among other things, the Indian subsidiary of the Japanese firm is involved in the large scale container tracking venture in association with Delhi Mumbai Industrial Development Corporation (DMIDC). With this appointment, Takayuki Inaba, former Chairman & Managing Director, has been appointed as Executive Chairman of NEC Technologies India. Akihiko Kumagai, President of the Global Business Unit, NEC Corporation, said, “This management restructuring exercise is aimed…

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