EU plans help for farmers in countries bordering Ukraine
The European Union (EU) is planning a package worth 100 million euros ($109.32 million) to support farmers as countries bordering Ukraine have begun to restrict imports of Ukrainian cereals that they say have depressed their domestic market prices, Reuters reported, citing a European Commission spokesperson.
Bunge to acquire multi-oil refinery
Bunge Ltd., through its Bunge Loders Croklaan joint venture with IOI Corporation Berhad, has entered an agreement to acquire a newly constructed, port-based refinery from Fuji Oil New Orleans, LLC. The refinery is located in IMTT’s (International-Matex Tank Terminals) Avondale Terminal, Louisiana. Financial terms of the agreement were not disclosed.
Australia, China seek truce in barley dispute.
Australia announced on April 11 that it has taken steps to attempt to reopen the Chinese market to Australian barley, which essentially has been banned by China during the past three years after its government imposed an 80% import tariff in 2020.
Focus on South Korea
With less than a quarter of its land used for agriculture, South Korea relies heavily on imports, particularly wheat and corn, while producing a significant amount of rice.
Kazakhstan’s wheat, barley production improves in 2022-23
Wheat and barley production in Kazakhstan improved in 2022-23, with both experiencing a 39% increase from the previous year, according to a report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).
Grain market review: Coarse grains
Concerns over the world economy and its effect on demand, and spillover from declines in wheat, pushed prices for maize lower in December. Worries over potential problems with shipments through the Black Sea are still in traders’ minds, while China’s COVID problems remain a threat to demand.
Brazil expecting record 2022-23 corn crop
– Brazil’s corn production in marketing year 2022-23 is forecast to reach a record 126 million tonnes based on the growing demand and price for corn in both the domestic and international market, according to a Global Agricultural Information Network report from the US Department of Agriculture’s Foreign Agricultural Service (FAS).
Canadian feed company acquires grain processing plant
a manufacturer of nutritional products for animals, has acquired a grain and processing facility in Slemon Park, Price Edward Island, Canada.
FAO Cereal Price Index rises again
The benchmark for world food commodity prices was broadly stable in October, with rising cereal prices more than offset by declines in quotations for other staples, the Food and Agriculture Organization of the United Nations (FAO) reported on Nov. 4.
FAC examines impact of war on global food security
The Food Assistance Committee (FAC) during a meeting on Sept. 30 discussed the impact of Russia’s invasion of Ukraine on global grain markets