Export: Bangladesh Yet to Fully Tap Asian Markets

Bangladeshi exports to Asian countries are still low due to absence of proper preferential trade agreements and quality products, even though there are huge trade opportunities in the region.

Exporters and trade analysts say that removing non-tariff barriers, signing trade-friendly bilateral agreements and proper usage of preferential trade deals can boost Bangladeshi exports to the region. They also said that high dependency on developed countries in North America and Europe could risk export earnings.

The export basket is dominated by the ready-made garment (RMG) sector, which accounts for over 80% of total exports, followed by several other products including agricultural products, frozen food, jute and jute goods, leather and leather products. 

The most popular Bangladeshi exports are:

1. Textiles and Textile Articles

2. Jewelry

3. Spices and Herbs

4. Natural Gas

5. Fish, Crustaceans and Aquatic Invertebrates

Salmon Sales Surge as UK Food Exports Hit Record High

Sales of British salmon helped the UK to export a record value of food, agricultural products and soft drinks in the first half of the year. Exports of the fish jumped more than 53% by value to £408m. According to the statistics, the UK food and drink exports rose 8.5% to £10.2bn, helped by the fall in the pound after last year's Brexit vote. 

The pound does not hamper the British salmon to become more popular globally. Still, whisky remains the top export, while salmon is second, and beer have rose to third, overtaking chocolate. 

Other popular British exports are:

1. Cheese

2. Wine

3. Gin

4. Beef

5. Pork

Indonesia plans to increase the rice exports in 2017

The Indonesian Government is going to export rice to Fiji, Vanuatu and Samoa and provide agriculture training to the three nations in the Pacific. Indonesia will export rice as the product's price in the country is cheaper than that in the three export destinations.  

Before doing this important step in economy development, the Government will send horticultural experts to the three island nations to give training in intensification of farming as the main aim is to help the nations in advancing their agricultural sectors. 

Indonesia produced 79.1 million tons of rice last year, rising from 75.4 million tons in the preceding year, according to data of the Agricultural Ministry. 

In addition to rice, Indonesia exports  to Fiji, Vanuatu and Samoa the following products:

1. Oil, Gas, Power and Utility

2. Cooper

3. Products of Chemical and Applied Industries

4. Plywood

5. Textiles

Onion Export Registers 10-Year High in 2016-17

Indian exports of onions play a crucial role in balancing the domestic price of the produce in the wholesale markets. India consumes almost 90 per cent of the home-grown produce, but 10 per cent export is necessary to prevent a price crash.

Exports had virtually stopped in 2014 due to the Central government’s decision to increase the minimum export price (MEP) in view of the steep increase in onion prices. Since 2015, the exports of onions have seen a steady rise and at the end of the financial year 2016-17, 34.92 lt of the bulb was exported out of the country. 

The major export destinations for Indian onion are:

1. The United Arab Emirates (UAE)

2. Sri Lanka

3. Singapore

4. Malayasia

5. Russia

Over the last two weeks, prices of onions have seen a spike, with the Lasalgoan market recording an average price of Rs 12 per kg. This price rise was temporary and will remain till the Kharif crop arrives early September. Market sources pointed out that the price rise was due to stockists wading in the market in anticipation of a shortage in the future. Agriculture analyst Deepak Chavan supposed that the rise in price is due to fundamental market forces.  This price system is going to keep the country on a high level on the international market giving the chance to sign new trade agreements.