Geopolitical winds set to sweeten India's apple harvest
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
New Delhi: An apple a day - but at a price set by geopolitics. With Turkey Iran and Afghanistan emerging as the top three apple import sources for India, shifting geopolitical dynamics are expected to play an outsized role in shaping prices this harvest season, beginning in August.At Delhi's Azadpur Fruit and Vegetable Market - arguably Asia's largest - traders may continue to steer clear of imports from Turkey, which was India's largest apple supplier last fiscal year with shipments worth $97 million. The reluctance stems from prevailing negative sentiment toward Ankara over its active support for Islamabad during the recent India-Pakistan conflict, two traders have told ET.Compounding the challenge is the continued closure of the Attari-Wagah border between India and Pakistan since May 1.This has effectively halted the entry of apples from Afghanistan - typically the most affordable among all imported varieties - into the Indian market. The disruption may contribute to a rise in prices of domestic apples from Kashmir and Himachal Pradesh, whose harvest peaks between August and October, when traders will buy and store the apples for the months to come."Apples from Afghanistan, which are sold for Rs 40-65 per kg in the wholesale market, are cheaper than Kashmir or Himachal apples, which cost between Rs 60 and Rs 90 per kg," says Pawan Chhabra, fruit merchant and owner of Adarsh Fruits.'Production costs in Afghanistan are extremely low, and on top of that, the imports are duty-free under an agreement (South Asia Free Trade Area agreement),' he says, adding that he won't be surprised if the cost of domestic apples rises in the upcoming season.'While the conflict in Iran has paused for now, many importers remain cautious about sourcing Iranian apples due to the high risks involved,' says another fruit importer, requesting anonymity. 'In recent years, most Indian importers have operated more like commission agents for Iranian exporters, earning a cut of 4-6% on each sale.'While apple production in India — primarily concentrated in Jammu & Kashmir and Himachal Pradesh — is estimated at around 2.4 million metric tonnes, domestic consumption exceeds this output. Just last financial year, India imported 34,000 tonnes of apples valued at $450 million, a 12% year-on-year rise in terms of value.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
38 minutes ago
- Time of India
VA halts major staff layoffs: How veterans affairs protects jobs and improves veteran care under Trump administration
Veterans and workers fought against big job cuts Live Events VA keeps services safe while staff leaves VA safeguards care amid cuts and protests FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Department of Veterans Affairs (VA) said on Monday it will not do a big layoff like many other federal agencies did under the Trump administration's U.S. DOGE Service. VA was originally planning to cut nearly 83,000 workers, as revealed in a leaked memo in March, but now it will only reduce staff by about 30,000 employees by the end of this fiscal year, as per the Secretary Douglas A. Collins had earlier said these cuts were 'tough but necessary' and warned staff to 'get used to it.' The White House said cutting VA staff would make the agency less 'bloated' and more efficient and transparent, as per the report by The Washington many veterans and advocacy groups strongly opposed the deep cuts, saying it would hurt the quality of VA services. VA employees' morale dropped, and many workers left their jobs because of fears about layoffs. The VA decided not to do a big Reduction in Force (RIF) after veterans groups, Congress, and staff warned that fewer workers would hurt veteran make up a large part of the federal workforce, so cutting VA jobs risked upsetting a key Republican voting group. President Trump is popular with veterans and had said he would not cut their VA benefits. VA avoided big layoffs because many workers left voluntarily through retirement, normal job attrition, and delayed resignations, as stated by the reports.A federal hiring freeze also helped reduce staff numbers without forced layoffs. VA had about 484,000 employees in January but had about 467,000 by June—a loss of 17,000 workers. Between July and September, VA expects 12,000 more employees to leave by normal attrition or retirement programs, as mentioned in the report by The Washington an email to VA staff, Secretary Collins said after four months of study and action, VA is 'headed in the right direction' for both staff levels and customer service. Collins said even with 30,000 staff leaving, VA performance is improving, like fewer veterans waiting for disability benefits and better claims processing, according to the said it has safeguards to protect veteran care and benefits during staff reductions, with many mission-critical jobs exempt from retirement offers and hiring freezes. The VA is one of the biggest federal employers and provides medical care to millions of veterans and families, as per the in the year, VA already lost 2,400 workers due to layoffs in February. Thousands of VA workers chose early retirement this spring to avoid future cuts. In June, thousands of veterans protested in Washington and many other states against more VA staff cuts, according to the report by The Washington reversal on big layoffs may also reflect the loss of power of Elon Musk and the DOGE team, who started cutting staff aggressively in January but later fell out with Trump and left. Some DOGE team members remain in government, working on Trump's policies like changing gun rules and federal regulations, as stated by the month, DOGE lost control over awarding billions in federal funds, showing its reduced influence. Collins thanked VA staff in his email, calling them 'an important part' of the effort to improve the agency, as mentioned in the report by The Washington the VA plans to reduce staff by about 30,000 through retirements and attrition, avoiding large VA says it has safeguards to protect veteran care and mission-critical jobs during staff reductions.
Time of India
38 minutes ago
- Time of India
Sebi Plans to Heighten Derivatives Surveillance
Live Events The Securities and Exchange Board of India (Sebi) is planning to enhance its surveillance system to check manipulation in the derivatives market, chairman Tuhin Kanta Pandey said on Monday. This follows the regulator barring US-based proprietary trader Jane Street from the securities market for allegedly generating illegal profits by manipulating indices through large derivatives positions.'This (Jane Street case) is essentially a surveillance issue,' Pandey said on the sidelines of an event. 'Surveillance mechanisms will be upgraded further to strengthen oversight.' He added that monitoring will continue at Sebi's as well as stock exchange levels.'Manipulative practices can be worked out by different players in different ways,' Pandey said. 'There is no one particular way in which you have to assess. Our regulations clearly mention that manipulative and fraudulent practices are not allowed in the market, and within the regulations, Sebi has all powers to investigate and act.'The chairman appeared to be of the view that such practices aren't widespread. 'There may not be many more such cases,' he said in response to a question on whether other funds may have manipulated the markets in a similar week, Sebi ordered the seizure of what it said were 'illegal gains' made by Jane Street to the tune of Rs 4,844 crore ($570 million) in one of the toughest punitive actions against an international trader. It's likely the largest amount thus impounded by the entities tied to Jane Street Group — JSI Investments, JSI2 Investments, Jane Street Singapore and Jane Street Asia Trading — have been prohibited from dealing in securities, directly or Street, which started its India operations in 2020, made a profit of about $4.3 billion between January 2023 and March 2025, the period under review, on its India regulator's finding is that the NSE's Bank Nifty Index — comprising stocks of India's top dozen lenders — was manipulated in a complex and illegal manner aided by JS Group's immense trading, financial and algorithmic Street would drive up prices with heavy buying in the morning and send them down through a selling spree later in the day, according to Sebi. It also sought to push index levels down with heavy sell orders close to the option expiry, the regulator found that Bank Nifty options alone contributed Rs 17,319 crore, amounting to 40% of the total index option's profits.
Time of India
40 minutes ago
- Time of India
Pune witnesses significant boost in office leasing
1 2 3 Pune: The office leasing market in Pune experienced a notable surge in the first half of 2025, continuing with the trend observed in 2024. This increase was primarily fuelled by Global Capability Centers (GCCs), which are the Indian technology hubs of multinational corporations, as they aggressively expanded their operations. The GCCs secured a larger proportion of available office spaces in the city during the initial six months of the year, with a particularly strong increase in activity during the April-June quarter. Reports indicate that the total office spaces leased in Pune from Jan to June 2025 ranged from 38 lakh sqft to 51 lakh sqft. Data from real estate consulting firm CBRE South Asia highlights that nearly 30 lakh sqft of commercial space was leased in Q2 2025 alone. Out of this, an impressive 15 lakh sqft was leased by the GCCs — a substantial jump compared to the 2.5 lakh sqft they rented in the first three months of 2025. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune "India's office market has not only sustained, but accelerated the momentum built in 2024, propelled by the expansion of GCCs, the resurgence of third-party IT service providers, and the growing demand for flexible workspaces," Shishir Baijal, CMD of Knight Frank India, said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Peush Jain, MD of commercial leasing at Anarock, said the leasing activity of GCCs in India increased amid the ongoing policy chaos in the US. However, new additions to office spaces also suddenly increased between Jan and June as some planned projects in Kharadi were completed recently. Office completions stood at 88 lakh sqft — a 264% increase. Although it led to a corresponding rise in vacant offices, commercial rentals increased by 3% to Rs77 per sqft, indicating that corporations are willing to pay for quality and flexibility, as per a Knight Frank India report. Flex operators maintained their demand in office leasing, led by large block deals across Kharadi, Mundhwa, Balewadi, and Wakad. Pune: The office leasing market in Pune experienced a notable surge in the first half of 2025, continuing with the trend observed in 2024. This increase was primarily fuelled by Global Capability Centers (GCCs), which are the Indian technology hubs of multinational corporations, as they aggressively expanded their operations. The GCCs secured a larger proportion of available office spaces in the city during the initial six months of the year, with a particularly strong increase in activity during the April-June quarter. Reports indicate that the total office spaces leased in Pune from Jan to June 2025 ranged from 38 lakh sqft to 51 lakh sqft. Data from real estate consulting firm CBRE South Asia highlights that nearly 30 lakh sqft of commercial space was leased in Q2 2025 alone. Out of this, an impressive 15 lakh sqft was leased by the GCCs — a substantial jump compared to the 2.5 lakh sqft they rented in the first three months of 2025. "India's office market has not only sustained, but accelerated the momentum built in 2024, propelled by the expansion of GCCs, the resurgence of third-party IT service providers, and the growing demand for flexible workspaces," Shishir Baijal, CMD of Knight Frank India, said. Peush Jain, MD of commercial leasing at Anarock, said the leasing activity of GCCs in India increased amid the ongoing policy chaos in the US. However, new additions to office spaces also suddenly increased between Jan and June as some planned projects in Kharadi were completed recently. Office completions stood at 88 lakh sqft — a 264% increase. Although it led to a corresponding rise in vacant offices, commercial rentals increased by 3% to Rs77 per sqft, indicating that corporations are willing to pay for quality and flexibility, as per a Knight Frank India report. Flex operators maintained their demand in office leasing, led by large block deals across Kharadi, Mundhwa, Balewadi, and Wakad.
