BUSINESS

The import of Walnuts from different countries especially from California and Chile into the Asian market has dented the local walnut industry badly. Kashmir used to be the largest exporter of walnuts in India, but with time, the production depleted – the markets across India and in other Asian countries are now flooded with walnuts from countries like California and Chile. The locals associated with the industry said that despite inorganic in nature, the walnuts from California and Chile are preferred in Asian markets because of their stylish packaging. Aijaz Ahmad, a dealer from Srinagar, said that it was during 2014 floods, when produce from Kashmir didn’t reach Asian markets on time, thus compelling dry fruit dealers to look for an alternative, which ultimately led them to cou...

The apple production in Kashmir has gone down by almost 40 per cent, thus leaving the growers worried in the Valley. Bashir Ahmad, President of Kashmir Valley Fruit Growers cum Dealers Union (KVFGCDU) told that substandard pesticides have resulted in decrease in the annual apple production by 40 per cent in the Valley. He added in this year only, the scab in apples due to the substandard and duplicate pesticides have damaged over 60 per cent of the production. Ahmad said that prior to COVID outbreak, the orchards suffered huge losses due to the heavy rains. “Now, the pesticides available in markets wreaked havoc over the apple production as the quality was totally substandard,” he said. As the markets remained mostly shut due to the restrictions imposed after COVID outbreak, th...

The walnut industry of Kashmir, once a major revenue generating industry that would provide jobs to hundreds of people is in a shambles due to “government’s lackadaisical approach.” People associated with this trade alleged that the government made no efforts to create infrastructure essential for the revival, survival and growth of this industry. They said that lack of marketing facility, unchecked imports besides decline in the demand and low rates have left walnut producers and growers worried. The said that lack of walnut market (mandi) in Kashmir and increase of imported walnuts from California in India have become major concern for the local growers, dealers and exporters. “The majority of walnut growers in Kashmir are unable to sell their walnut produce given low demand ...

The traders associated with mutton business on Thursday said that mutton rates fixed by the government are not genuine and that it should reconsider the rates. According to a local news agency—Kashmir News Observer (KNO), in a joint press conference here, All Kashmir Wholesale Mutton Dealers Association, All Kashmir Butchers Association, Chinar Sheep and Goat Welfare Association said that the government has been deliberately pushing mutton dealers to the wall. They said the animal and sheep husbandry department has itself admitted that the production rate is Rs 476. "However, the government has fixed mutton rate at Rs 480 per kg, which is not genuine," the president of All Kashmir Wholesale Mutton Dealers Association, Mehraj Ud Din said. Mehraj said that the government in a mee...

Customers in some banks will now have to start paying fees for deposit and withdrawal of money. As per reports, Bank of Baroda will start charging its customers for transactions beyond the prescribed limits from November 1, Names of other banks like Bank of India, PNB, Axis Bank, and Central Bank are also emerging in reports, but they are yet to take a final call on the matter. Tagging the report, Congress General Secretary Randeep Singh Surjewala attacked the Centre and called the latest move a "Kamar Tod Tohfa" of the government. As per reports, some of these transaction charges will kick in from November 1. It is being said that withdrawals three times in a month will be free but after that a withdrawal transaction charge will be levied at a flat fee of Rs 150. Similarly,...

Waris Shah Despite being Asia’s largest trout fish farm, the farm in Anantnag district’s Kokernag is facing immense dearth of staff. The farm is one of the best producer of Rainbow Trout fish across the world. But, the dearth of staff is forcing the fish farm to not be able to function properly. “There are around 30 employees to look after the entire fish farm. We used to get daily wage workers for the maintenance but we are no longer able to do that because of lack of funds,” an official of the Fisheries Department told The Kashmiriyat. [metaslider id=26820 cssclass=""] The official also cited lack of government support as one of the reasons behind the deteriorating condition of the fish farm. "We are putting in our best effort, which is why it has maintained it’s sta...

Mohsina Malik- Photos by Mehran Bhat Life has come to a standstill due to the unprecedented norms put in practice by the pandemic that began at the turn of the year across the world. The whole world is dancing to its tunes of lockdown and social distancing. Talking of impact in Kashmir, a serious threat of extinction has given rise to a smaller group of people; houseboat owners. It is not only because of the ongoing epidemic, it should be seen in continuation with the previous year when there were restrictions imposed after the abrogation of article 370. Kashmir has been facing restrictions for months and normal life remains affected across the valley. The deadly disease took the whole world in its grip, the world is suffering both financially and emotionally. Unfortunately some...

According to the Finance Ministry, Goods and Services Tax (GST) collection in September surpassed ₹95,000 crore. This records the first time where the monthly collections illustrated a year on year growth for India in the current fiscal, indicating a recovery in economic activity. 21 States and Union Territories saw an increase in GST collections during September. Jammu Kashmir recorded the highest growth of 30 per cent. “A modest increase of 4% in the GST collections compared to the previous year indicates that the economic recovery process is underway, with some key large states also reporting increased collections. If the present trend of GST collections continues, we should be hopeful of significant increase in the coming months based on the unlock steps taken in various states ...

Sheikh Nadeem The season of harvesting the Kashmir walnuts began throughout the valley. The growers started plucking the walnuts from trees. The process has started a week before, by beating the walnuts with the long bamboo sticks. The walnuts in the Kashmiri language are also known as "Douen". These walnuts have a huge demand among tourists for their superior taste and quality. Walnut production is the major part of the Kashmir's economy. They are certified as organic and posses calorific value. In October and November, walnut growers peel the walnuts to export them to the other states. Due to the disruption in domestic supply last year, walnuts were imported. The traders in India imported walnuts from the United States (US) and Chile. Kashmir produces around 90% of the waln...

Venezuela sells petrol at the cheapest price in the world, followed by Iran, while Asian countries India and Pakistan rank 111th and 13 respectively, according to www.globalpetrolprices.com. The biggest single component of retail gasoline or petrol prices is the cost of the crude oil used to produce the gasoline. Recently, that price of WTI crude oil has been $39-$40 a barrel. In the worldwide oil industry, an oil barrel is defined as 42 US gallons, which is about 159 liters. This calculates price of crude oil $0.24-$0.25 per liter. Taxes and subsidies, cost of refining and transporting, commission etc are included in retail price. The average price of gasoline around the world is 0.97 U.S. Dollar per liter. As a general rule, richer countries have higher prices while poorer c...