Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / News/  Kandla Port strike to hit farm trade
BackBack

Kandla Port strike to hit farm trade

Kandla Port strike to hit farm trade

Premium

Ahmedabad: The indefinite strike called by traders at the Kandla Port in Gujarat from 3 March could seriously hit the import of fertilizers and edible oils, as well as the export of soya meal extracts and rice, according to an official at the port.

The port handles 76,390 tonnes of cargo every day and could lose at least Rs600 crore a day from the strike, which has been called to press for the renewal of land lease agreements and dredging, officials of the Gandhidham Chamber of Commerce and Industry (GCCI) said.

Salt production on the port’s land is also likely to be hit as traders there join the strike demanding the renewal of lease agreements. The area around Kandla accounts for about 15% of the total edible salt production in the country.

“The last lease expired in 2004 and Kandla Port Trust has approved the renewal of lease but the ministry of shipping is yet to give its final seal of approval," said Ashok Sharma, a former president of GCCI. Some officials said this made them ineligible for loans from financial institutions.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 19 Feb 2008, 01:39 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App