Agriculture

Agriculture
Friday, May 29th 2015 - 09:05 UTC

Oil crushers strike in Argentina on 25th day; 100 vessels delayed waiting to load

Rosario is responsible for shipping 70% of Argentina's oil seeds and grains and the current industrial conflict has over 100 vessels delayed

The head of an Argentine soy crushers' union expressed optimism on Thursday that a salary agreement was near and would end the strike, which has affected the key Rosario soy market.

Thursday, May 28th 2015 - 06:24 UTC

Libor rate rigging trial reveals “scratch my back, I'll scratch yours” dealings among traders

In one of the electronic conversations submitted to the jury, Hayes is allegedly discussing manipulating the Libor rate with Will Hall, a trader at RBS (Pic AP)

The trader at the centre of the Libor rate-rigging trial tried to influence other banks to manipulate the key benchmark rate to suit his own trading positions, a jury at Southwark Crown Court has heard. Tom Hayes allegedly told one trader that he had managed to keep the three-month Libor rate “artificially high”.

Wednesday, May 27th 2015 - 04:59 UTC

Argentine economic activity up 2% in March, but industrial production down

The economy's performance was pushed by higher agricultural production among other factors, (excellent soy and corn crops), and consumer purchases

Good and bad news for Argentina's economy: the latest figures from the National Statistics and Census Institute (INDEC) reveal that economic activity increased 2% percent in March, compared to the same month last year, but industrial production recorded its 21st negative consecutive month in April.

Saturday, May 23rd 2015 - 06:06 UTC

Argentina's soy market paralyzed by oilseed crushers union three weeks strike

The union organized pickets along the main highway leading to the port of Rosario which ships almost 80% of Argentina's grains and oilseeds.

The soy market in Argentina's pivotal grains hub was virtually paralyzed for the fifth day on Friday as most exporters refrained from purchases in a bid to pressure the government to resolve a nearly three-week long strike among crushing workers.

Thursday, May 7th 2015 - 05:22 UTC

US for third year running main wheat supplier for Brazil displacing Argentina

Argentina is expected to have a surface reduction of 10%. Uruguay, a drop of nearly 17%; Paraguay 10% and Brazil anywhere from 10% to 20%.

For a third year in a row the United States will be the top wheat supplier for Brazil, displacing Argentina from its historic position, according to the latest release from Brazilian consultancy Trigo & Farinhas. This piece of information is significant given the world prices for grains and wheat planting prospects in South America.

Monday, May 4th 2015 - 14:16 UTC

Avian flu in the US: third state declares state of emergency

Iowa, the top egg-producing state in the United States, which could lead to the extermination of up to 21 million chickens and turkeys

State of Iowa Governor Terry Branstad declared a state of emergency due to a rapidly expanding avian flu outbreak, saying the entire state was at risk from the spread of the disease.

Saturday, May 2nd 2015 - 07:34 UTC

Uruguay's meat exports in four months total 550m with beef the main item, 454m

To 18 April, 674,656 cattle were slaughtered in approved slaughterhouses across Uruguay, an increase of 9% compared to the previous year.

Uruguay exported meat, offal, meat products and by-products worth 550 million dollars in the year up to 18 April, 8% more than the same period of 2014. Beef exports totaled 454 million in the first months of the year, with the main buyers including China, member countries of the North American Free Trade Agreement (NAFTA), the European Union, Israel and MERCOSUR countries.

Tuesday, April 28th 2015 - 05:26 UTC

France leads world wine production and exports, with third largest area with vineyards

Spain has 1.02 million hectares of grapes; China now has the second-largest wine growing area with 799,000 hectares compared to France's 792,000 hectares

There was both good and bad news for France in this week’s annual report on the outlook of the wine industry by the International Organization of Wine and Vine (OIV).

Monday, April 20th 2015 - 06:24 UTC

China cuts banks' reserve ratio to bolster lending and a weak economy

China's economy grew by 7% in the first quarter of the year, a large figure by Western standards, but the lowest for the country since the 2009 financial crisis

China's central bank is to cut its bank reserve requirement ratio by one percentage point. The People's Bank of China said that the new reserve requirement would take effect from Monday. The aim is to stimulate more lending into the nation's slowing economy.

Friday, April 17th 2015 - 03:39 UTC

Mercosur must exhaust efforts to advance in trade talks with EU, insists Uruguay

“Many elements such as the free circulation of goods, services and persons is not working” and there is a distortion of the Mercosur founding treaty, said Cancela

Mercosur must exhaust efforts with determination to advance in trade negotiations with the European Union, said Uruguay's Deputy foreign minister Jose Luis Cancela confirming the country's commitment with the block, but also demanding 'sincerity' in addressing the challenges and agreeing on an international insertion strategy.

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