{"id":72112,"date":"2023-07-17T00:00:00","date_gmt":"2023-07-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/17\/will-india-ban-rice-exports-uk-joins-usd-15-7-tn-indo-pacific-trade-pact-plus-news-from-psa-haisea-marine\/"},"modified":"2023-07-17T00:00:00","modified_gmt":"2023-07-17T00:00:00","slug":"will-india-ban-rice-exports-uk-joins-usd-15-7-tn-indo-pacific-trade-pact-plus-news-from-psa-haisea-marine","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/17\/will-india-ban-rice-exports-uk-joins-usd-15-7-tn-indo-pacific-trade-pact-plus-news-from-psa-haisea-marine\/","title":{"rendered":"Will India ban rice exports? + UK joins USD 15.7 tn Indo-Pacific trade pact. PLUS: News from PSA + HaiSea Marine"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">India set to ban rice exports to curb inflation: <\/span><span style=\"\">India\u2019s government is planning to ban <\/span><span>exports of all non-Basmati rice, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-13\/india-considers-banning-most-rice-exports-as-local-prices-surge?srnd=economics-trade\" style=\"\">Bloomberg<\/a><\/span><span> reports, citing sources with knowledge of the matter. <\/span><span>If implemented, the ban would impact some 80% of India\u2019s rice exports, Bloomberg writes. The move aims to prevent inflation amid a rise in domestic prices, the sources revealed to the outlet. The rice ban could cause global costs of rice to soar, as India supplies rice to some 100 countries, according to Bloomberg. The share prices of Indian rice millers have fallen on the back of the news of the potential ban, including those of the country\u2019s largest rice company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/krblrice.com\/\" style=\"\">KRBL<\/a><\/span><span style=\"font-weight:400;\">, which fell by 3.7%, according to Bloomberg. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">India has also restricted imports of plain gold jewelry<\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/commodities\/india-restricts-import-plain-gold-jewellery-2023-07-12\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\"> reported last week. The gold ban was put in place to fix a policy flaw that allowed importers to circumvent paying import taxes for some 3-4 tonnes of gold in the last few months, a Mumbai-based dealer said to Reuters. The ban does not impact imports from the UAE, which has a CEPA with India that exempts it from the restrictions.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The UK officially became a member of the <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\">USD 15.7 bn Trans-Pacific Partnership Agreement<\/span><span style=\"font-weight:700\">on Sunday<\/span><span>, making it the first new member of the framework since it came into force, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-16\/uk-signs-pact-to-join-pacific-trade-deal-focus-turns-to-china?srnd=economics-trade\" style=\"\">Bloomberg<\/a><\/span><span>reports. <\/span><span>China is among the applicants seeking to join the <\/span><span>CPTPP<\/span><span style=\"font-weight:400;\"> \u2014  which is currently composed of 12 members, including Australia, Canada, Mexico and New Zealand  \u2014  and makes up 15% of global GDP with the UK included. \u201cWe have a seat at the table in the fastest growing region,\u201d which will make a significant difference for the UK,\u201d Badenoch said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO WORTH KNOWING-<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Temasek's <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.globalpsa.com\/\" style=\"\">PSA<\/a><\/span><span style=\"\">has halted the <\/span><span style=\"font-weight:700\">USD 4 bn sale of its minority stake in CK <\/span><span style=\"font-weight:700\">Hutchison's ports<\/span><span> due to lower valuations caused by a global slowdown in shipping, but may resume talks when economic conditions improve. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-12\/temasek-s-psa-said-to-shelve-4-billion-hutch-ports-stake-sale\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/haiseamarine.com\/\" style=\"\">HaiSea Marine<\/a><\/span><span style=\"\"> has launched <\/span><span style=\"font-weight:700\">the world\u2019s first fully electric tugboat<\/span><span style=\"\">, dubbed <\/span><span>the HaiSea <\/span><span>Wamis, which <\/span><span>will operate in <\/span><span style=\"font-weight:700\">Vancouver Harbour<\/span><span>. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/haiseamarine.com\/press-release\/haisea-marine-warmly-welcomes-the-worlds-first-fully-electric-tugboat-the-haisea-wamis\/\" style=\"\">Press release<\/a><\/span><span>)<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>India set to ban rice exports to curb inflation: India\u2019s government is planning to ban exports of all non-Basmati rice, Bloomberg reports, citing sources with knowledge of the matter. If implemented, the ban would impact some 80% of India\u2019s rice exports, Bloomberg writes. The move aims to prevent inflation amid a rise in domestic prices, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72113,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149],"tags":[148,17,40,201,32,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-72112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-enterprise-logistics","tag-exports","tag-india","tag-trade","tag-uk","wpautop","entry"],"acf":{"mongo_id":"829e3df7-97cd-4781-a75d-9e77fbf643e1","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/618.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Will India ban rice exports? + UK joins USD 15.7 tn Indo-Pacific trade pact. PLUS: News from PSA + HaiSea Marine","related_issue":[72091],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.6414aa03-fcf2-4738-bdc6-95ee8d6060fb.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Will India ban rice exports? + UK joins USD 15.7 tn Indo-Pacific trade pact. PLUS: News from PSA + HaiSea Marine - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/07\/17\/will-india-ban-rice-exports-uk-joins-usd-15-7-tn-indo-pacific-trade-pact-plus-news-from-psa-haisea-marine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will India ban rice exports? + UK joins USD 15.7 tn Indo-Pacific trade pact. PLUS: News from PSA + HaiSea Marine\" \/>\n<meta property=\"og:description\" content=\"India set to ban rice exports to curb inflation: India\u2019s government is planning to ban exports of all non-Basmati rice, Bloomberg reports, citing sources with knowledge of the matter. If implemented, the ban would impact some 80% of India\u2019s rice exports, Bloomberg writes. 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