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EGYPT – Minister of Supply and Internal Trade Ali El-Moselhy has inaugurated a new phase of the national project to build strategic warehouses for food products in Luxor Governorate. With an investment of US$48.52, the warehouse is part of the first phase of the project, among seven strategic food warehouses planned across the country, following the one in the Suez…
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CANADA- According to a recent report released by Statistics Canada, all-wheat production stands at 29.5 million metric tons, down 14 percent from last year, which spells doom to pasta lovers. Canada is the world’s largest producer of durum wheat, which is primarily used in pasta production. The North American country accounts for around half of global trade in durum but…
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ARGENTINA- The world’s largest producer of soybeans, Argentina, is allowing grain exporters to keep 25% of the foreign currency they generate in September to import soybeans, according to a report by Reuters. This move by the government is inspired by a historic drought that is driving the need for soybean imports. Because of the drought, the domestic harvest has been…
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NIGERIA- AFEX, Nigeria’s leading commodities player, recently signed a Memorandum of Understanding with Ghana Commodities Exchange (GCX), to strengthen the commodity trading ecosystem between the two countries. The MoU signing, which took place at AFEX’s office in Abuja on the 24th of August, had the Chief Executive Officer, GCX, Mrs. Tucci Ivowi, and the President/CEO, AFEX Nigeria, Akinyinka Akintunde, in…
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NIGERIA – Flour Mills of Nigeria PLC has recorded a sluggish operating profit due to a foreign exchange loss of N22.5 billion (US$29M) in the last quarter, giving rise to a loss before tax of N9.3 billion (US$12.09 million) for the first quarter ended June 30. World Grain, however, reports that the company has recorded impressive revenue, hitting N456.38 billion…
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KENYA – Kentaste, a Kenyan coconut processor has partnered with the US government to launch a US$1.6 million combined investment project to expand the processor’s exports to the US market. The project named ‘Feed the Future and Prosper Africa funding’ supported by the United States Agency for International Development is set to increase Kentaste’s processing capacity by 67% to 50,000…
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UK- Swiss processing technology company Bühler, and Entocycle, an insect technology company, have partnered to bolster the adoption of large-scale black soldier fly (BSF) farms. The two companies will provide solutions and expertise to serve customers in this segment, covering the multiple steps of the journey, from concept and basic engineering to execution of BSF facilities worldwide. This non-exclusive partnership…
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AUSTRALIA- Australia has shipped the first barley cargo to China since tariffs imposed in 2020 were lifted earlier this month, according to the country’s minister for agriculture. China ended anti-dumping tariffs on Australian barley earlier this month, roughly three years after the 80.5% duties first dented exports once worth up to US$967 million annually and led Canberra to file a…
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UKRAINE- Grain prices on the Ukrainian market have been at a dangerously low level since Russia’s exit from the Black Sea grain deal, according to Svytlana Lytvyn, an analyst of the Ukrainian Club of Agricultural Business. According to Lytvyn, if this trend continues, it will make growing grain loss-making for Ukrainian farmers, Ukraine’s grain production has always exceeded the internal…
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TANZANIA – Tanzania is envisaging significant changes in the use of agricultural technology to enable an increase in rice production from less than 2.5 tonnes per hectare to five tonnes or more by 2030, to double local production. According to Daily New TZ, the government has expressed firm resolve to act as a driving force for enhancing rice production, as…
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