India: Domestic soy shipments have expansion potential

Published May 28, 2021

Tridge summary

Paraguay has the potential to increase its exports to India, particularly in soybeans, raw soybean oil, oil seeds, and oleaginous fruits. The Ministry of Finance report reveals that there is untapped potential in exporting crude soybean oil and oil seeds to India. Currently, the tariffs on these products in India are 35% and 30% respectively. Additionally, there is demand for wheat, morcajo, and sesame seeds in the Indian market, for which Paraguay currently has a lower export value than the potential.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Paraguay has the possibility of expanding its current exports to India, in addition to sending new products to this destination. According to the Economic and Commercial Profile of India, prepared by the Ministry of Finance, Paraguayan export products that have potential for expansion are soybeans, raw soybean oil, as well as oil seeds and oleaginous fruits. Regarding soybeans, the value currently generated by exports of the product is USD 222.4 thousand, but its potential is USD 2.8 million. The applied tariff (AA) on oilseed is 38%. Paraguay can export crude soybean oil worth USD 178.1 million to India, but, currently, it ships this product for USD 128.9 million, that is, 72% of the potential is being covered. The tariff applied by India to Paraguay is 35%. Likewise, the potential for shipping oil seeds and oleaginous fruits is USD 1.7 million, but currently it is exported for USD 65.9 thousand. India applies a tariff to this product ...

Source: Productivacm