India’s refrigerator cargo exports grew strongly at 19 per cent in 2016, thanks to a rich harvest of vegetables and import of fruits, states a Maersk Group report. The record 80 per cent growth in vegetable exports made up for the 21 per cent drop in 2015 due to untimely rains. Refrigerated cargo volumes also grew as the import of nuts and fruits, especially of apples, nearly doubled in the third quarter of 2016, the report – attributed to Franck Dedenis, Managing Director for India, Sri Lanka and Bangladesh Cluster, Maersk Line – states. In 2015, the government had issued a policy of ‘restricted acceptance’ of apples from China, due to which only a few ports like Nhava Sheva were allowed to receive consignments. This had negatively impacted the overall demand for refrigerated cargo. However, this restriction was lifted in 2016 and imports picked-up rapidly across India. In contrast, the overall meat export volumes fell 11 per cent, although India remained the largest exporter of buffalo meat in 2016. The report
attributed this dip to the demonetisation exercise as most meat producers deal on cash basis.
(Source: The Hindu BusinessLine, March 30, 2017)