U.S. Sugar Soars Above World Prices
On the U.S. futures market, sugar is 58% more expensive than on global markets hitting 23.98 cents per pound on the ICE Futures U.S. compared to a benchmark of 15.14 cents per pound globally. A year ago record sugar imports from Mexico caused U.S. sugar prices to plummet resulting in a price gap of only two cents and U.S. growers defaulting on
Read moreInvestors Recruited to Restore Farmland in Latin America
A consortium of conservation groups supporting ‘Initiative 20X20’ is seeking investments from private investment funds to finance the improvement of productivity of existing farmland in Latin America. Over the past decades Latin America has been increasingly responsible for a growing percentage of global food trade - today it accounts for
Read moreFifth Farm Quarantined in Canadian Bird Flu Outbreak
A fifth poultry farm in the Canadian province of British Columbia has been quarantined after the discovery of avian flu on the property. Samples from the turkey farm have been sent to the Canadian Food Inspection Agency and preliminary test indicate it is the H5 strain of the virus, however, further testing will be conducted. Six percent of Ca
Read moreBrazil’s Northern Frontier To See Soy Output Boom
ADM states that Brazil’s northern region, consisting of the states Maranhao, Tocatins, Piaui, and Para, (Matopipa) will see soybean production growth of 19% per year between 2013 and 2017 compared to production growth of 4.5% for Mato Gosso, because of improved infrastructure and increased access to more local ports. Matopipa is a relatively
Read moreCash Injection to Boost Cocoa Processing in Africa
Last week the African Export-Import Bank (Afreximbank) signed a memorandum of understanding with the International Cocoa Organization (ICCO) and invested $350 million to develop and support cocoa processing in Ghana, Nigeria, Cameroon, and Ivory Coast, and pledges a further $400 million investment in the future. In 2012/13 45% of the world’s
Read moreGAI Insight: The Skinny on Sensors
By Shahnaz Mahmud Sensor technology is poised to play a significant role in transforming the agriculture sector. This was a major takeaway from a Business Insider article written earlier this year. The article focused on the ag tech space and was based on a report, MetaScan 3: Emerging Technologies, by Policy Horizons Canada. Sens
Read moreCanada Wheat, Canola Harvests Seen Larger Than Forecast
Statistics Canada raised its forecast for this season’s wheat production forecast from a previous estimate of 27.5 million tons to 29.3 million tons, and raised its forecast for canola production to 15.6 million tons – up from a previous forecast of 14.1 million tons. Canola output will be down 13% from last year’s record production, but
Read moreArgentina Clamps Down on Credit to Farmers Accused of Hoarding Soy
Argentina’s state bank, Banco Nacion, has directed its branches in the country’s farm belt to reduce or stop credit to farmers hoarding soybeans. Farmers in the world’s third ranked soybean exporting country and top soymeal supplier, have been hoarding an estimated 8 million tons of last year’s soybeans as a hedge against soaring infla
Read moreChina’s Corn Import Curbs ‘May Be Just The Start’
The U.S. Department of Agriculture’s (USDA) foreign staff forecasts that Chinese imports of U.S. corn will be at a four-year low of 2.5 million tons for 2014/15 as a result of Beijing refusing shipments from the U.S. over claims that they contain genetically modified strains that have been approved in Washington, DC, but not Beijing as o
Read moreIndia’s Vegetable Oil Imports To Set New Record At 12 Million Tons This Year
India will import a record 12.3 million tons of vegetable oil this year – up 6.2% year on year, because of ever increasing demand, falling prices, and low domestic output as a result of a delayed monsoon and sparse rain. India is estimated to produce 19.66 million tons of oilseeds this year; far below the 22.41 million tons the year before,
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