Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Rural distress hits silver demand; imports down 40%.

Date: 07-01-2020
Subject: Rural distress hits silver demand; imports down 40%
Ahmedabad: Agriculture and rural distress has hit demand for silver to a great extent in 2019. The import of silver declined by 40% year-on-year in 2019. The precious metal’s imports fell from 150.7 metric tonne (MT) in 2018 to 89.9MT in 2019, according to data by Ahmedabad Air Cargo Complex.

Silver price stood at Rs 49,600 per kg in the Ahmedabad market on Saturday. Analysts said that demand for both silver in terms of bullion as well as jewellery has declined. “With an acute water scarcity situation in the initial part of the year, and excess rainfall in the later half, rural incomes were affected to a great extent. This is clearly visible in the mounting burden of bad loans in the agriculture sector. Silver demand across the country is largely driven by people in the rural areas. With majority of rural population reeling under stress due to such an agrarian crisis, silver imports have declined,” said Haresh Acharya, director, India Bullion and Jewellers’ Association (IBJA).

Analysts also blame it on the prices of silver which remained significantly high throughout the year. “Due to slowing economic scenario, the cashflow situation is a major concern with several businesses and industrial sectors reeling under liquidity crisis amid stretched payment cycles. Moreover, price of silver also remained fairly high throughout the year, which deterred investments,” Acharya added.

Jewellers said that the amount of silver recycled is also very high. “Just like gold, silver purchases have also remained muted due to high prices and cashflow crisis. Moreover, there is a high degree of recycling in silver purchases as well. People come with previously purchased silver to buy new jewellery and thus, overall imports got affected,” said Ashish Zaveri, media convener, Jewellers’ Association of Ahmedabad (JAA).

Source: timesofindia.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 02-12-2020
Notification No. 43/2020-CUSTOMS (ADD)
Seeks to impose provisional anti-dumping duty on imports of Toluene Di-isocyanate (TDI) having isomer content in the ratio of 80:20, originating in or exported from European Union, Saudi Arabia, Chinese Taipei and UAE, for a period of six months.

Date: 01-12-2020
Notification No. 42/2020 -Customs (ADD)
Seeks to amend notification No. 21/2016-Customs (ADD) dated 31st May, 2016 to extend the levy of Anti-Dumping duty on Methylene chloride originating in or exported from China PR, up to and inclusive of 31st Jan, 2021.

Date: 01-12-2020
Notification No. 90/2020 – Central Tax
Seeks to make amendment to Notification no. 12/2017- Central Tax dated 28.06.2017.

Date: 01-12-2020
PUBLIC NOTICE NO. 31/2015-2020
Enlistment as designated port in Para 2.54(d)(iv) of Handbook of Procedure, 2015-2020

Date: 29-11-2020
Notification No. 89/2020 – Central Tax
Seeks to waive penalty payable for noncompliance of the provisions of notification No.14/2020 – Central Tax, dated the 21st March, 2020.

Date: 27-11-2020
Notification No. 109/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 27-11-2020
Circular No. 52/2020-Customs
Exports of Gems and Jewellery through Courier mode - reg.

Date: 27-11-2020
Notification No. 40/2020-Customs (ADD)
Seeks to impose Anti-Dumping duty on Fluoroelastomers (FKM) originating in or exported from China PR for a period of 5 years, in pursuance of sunset review final findings issued by DGTR

Date: 27-11-2020
Notification No. 41/2020 -Customs (ADD)
Seeks to further amend notification No. 49/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of “Front Axle Beam and Steering Knuckles meant for heavy and medium commercial vehicles” originating in or exported from China PR, for a period upto and inclusive of the January 31, 2021

Date: 26-11-2020
Notification No. 43/2020-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe BCD rate of 27.5% on Crude Palm Oil

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001