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AUSTRALIA- GrainCorp reported A$200 million (US$134 million) in net profits after taxes for the first half of the 2023 financial year that ended March 31, led by an increase in oilseed crush volumes supported by a third straight canola bumper crop. Additionally, the company also registered EBITDA of A$383 million (US$256.6 million) in earnings and down from A$427 million (US$285.53)…
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MALI – The Ministry of Agriculture has indicated that the cereal harvest is expected at 10.9 million tonnes at the end of the 2023/2024 campaign, up 6% compared to the previous year’s stock, Ecofin Agency reports. According to the authorities, these positive prospects are attributed to an expansion of the areas planted, better weather conditions as well as an effective…
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EGYPT – The Agricultural Bank of Egypt (ABE) has announced that it has received the first batch of locally produced wheat in 2023, amounting to about 277,000 tonnes with a total value of about EGP 2.8bn, Daily News Egypt has reported. Samy Abdelsadek, Deputy Chairperson of the ABE made the announcement, stating that the celebrated milestone is for the first…
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KENYA – The government of Kenya plans to promote the production of sunflower and rapeseed (canola) in a bid to reduce the import bill for edible oils, which has skyrocketed to Sh120 billion (US$ 875.6M) annually. Agriculture Principal Secretary Kello Harsama made the declaration adding that Kenya can produce edible oils, hence the government wants to promote the growth of…
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NIGER – The cereal harvest in Niger totaled more than 5.9 million tonnes in 2022 recording a volume increase of 69%, according to a press release from the Council of Ministers. According to the press release, the support in equipment, materials, and agricultural inputs granted by the executive in the development of irrigated crops have made it possible to increase…
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TANZANIA – The Cereals and Other Produce Board of Tanzania (CPB) has allocated Sh100 billion (US$ 42.4M) for the purchase of strategic cereal crops from farmers around the country in a bid to achieve food security as well as boost their incomes. Mr Kapenjama Ndile, the director of the board made the statement while visiting CPB projects in the Lake…
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ARGENTINA- Bioceres, an Argentine biotech firm, plans to expand its HB4 wheat seeds sales by partnering with 45 seed multiplier firms ahead of planting season, said Bioceres Chief Executive Officer Federico Trucco in the company’s latest earnings report. HB4 wheat harnesses the power of genetically-modified organisms (GMOs) by introducing sunflower genes into the wheat DNA to improve crop productivity. The…
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GERMANY- Drug and pesticide maker Bayer estimates that its 2023 results will likely come in at the lower end of its targeted range, jeopardized by cost inflation and a slump in prices of glyphosate-based weedkillers from last year’s highs, according to a report by Reuters. Bayer saw herbicide sales jump 44% in 2022 after Hurricane Ida damaged rival producers and…
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