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Tag: Commodity & Trade Updates

Kenyan regulator threatens license revocation for beans, peas exporters on pesticides use 

KENYA- The Horticultural Crops Directorate recently issued a warning of license revocation for exporters of fresh beans and peas in pods found with excessive pesticide residue, aiming to protect Kenyan consumers.  The Horticultural Crops Directorate is one of the eight Directorates under the Agriculture and Food Authority (AFA), whose mandate is to oversee the Regulation, Development, and Promotion of the…

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Egypt back in talks for major Russian wheat imports

EGYPT- Egypt, one of Africa’s major wheat consumers, is currently in talks to acquire 1 million metric tons of wheat from the Russian government, according to undisclosed sources reported by Bloomberg.  Egypt stands as one of the leading global wheat importers, while Russia holds the top position as the world’s wheat exporter, a position it has solidified through consecutive abundant…

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LDC celebrates Fuling Food Industrial Park and R&D center launch in China

CHINA- Louis Dreyfus Company (LDC), a leading global agribusiness, Donlink Holding Group (Donlink), and Guangdong HAID Group (HAID) are celebrating the completion of the first phase of construction of their new food industrial park in Nansha, Guangzhou, China.  The park, which spans 180,000 square meters, is operated by their joint venture, Fuling Food Technology Co. Ltd., which was established in…

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India agrees to export 75,000 tonnes of non-Basmati white rice to UAE

INDIA- A government notification released on Monday reveals that India has allowed the export of 75,000 tonnes of non-Basmati white rice to the United Arab Emirates (UAE). “Export of 75,000 tonnes of non-Basmati white rice to the UAE is permitted through National Cooperative Exports Limited,” the Directorate General of Foreign Trade (DGFT) said in a notice issued on Monday. India…

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Bulgaria introduces embargo on Ukrainian sunflower imports

BULGARIA- Bulgaria has reportedly yielded to pressure from local farmers by implementing an import ban on sunflower seeds from Ukraine. Speaking at a press briefing this week, Bulgarian Prime Minister Mykola Denkov announced his intention to impose an import quota on sunflower seeds from Ukraine, as reported by the pan-European news service Euractiv. Denkov stated that he would inform his…

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India’s soybean output to decline year on year amid unpredictable rains 

INDIA- Industry officials and farmers predict that India’s soybean production will drop as patchy monsoon rains in August stunted the crop in some key growing areas. India uses soybeans to manufacture soy oil, which helps the country cut its hefty edible oil imports, while the by-product soy meal is used for animal feed and exported mainly to Southeast Asia. Farmers…

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Three EU countries maintain ban on Ukraine grain imports despite Brussels ruling

EUROPE- Poland, Slovakia, and Hungary have affirmed their intent to uphold the ban on grain imports from Ukraine, despite the European Commission (EC) discontinuing its endorsement of the trade restrictions on September 15.  This ban originated in May when five EU member states, with the support of the European Commission, imposed a ban on grain and certain food imports from…

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Ukraine seeks to conduct ship-to-ship grain transfers at Romanian port 

UKRAINE- Danube Shipping Company (DSC) has requested Romania’s Constanta Black Sea port to allow ship-to-ship grain transfers which would almost double its barge (flatboat) export capacity, the company recently announced. Ukraine, a significant producer and exporter, is expected to have a grain output of up to 56 million metric tons in 2023.  However, the blockade of its major Black Sea…

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Viterra records 18% increase in revenue for half 1 of 2023

NETHERLANDS- Viterra’s revenue reached US$28 billion in the first half of 2023, up 18% from US$24.3 billion recorded in the first half of last year, mostly driven by record sales volumes and the completed acquisition of Gavilon. In its financial report, released on 13th September, Viterra said that the earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first…

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Cargill agrees to sell stake in Russian grain terminal to Delo Group

RUSSIA- Cargill, a leading global player in the agriculture and food industry, has finalized a deal to divest its stake in a Russian grain terminal situated on the Black Sea to Russia’s Delo Group, a prominent transport and logistics entity. Confirming the sale, Cargill stated, “In line with Cargill’s earlier announcement to stop the export of Russian grain in July…

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