Brazil’s Congress approved legislation that opens up state-owned ports to private investment and lifts restrictions on the building of private ports in a bid to eliminate serious bottlenecks strangling the country’s export growth. The Brazilian Association of Infrastructure and Basic Industries praised the approval of the bill and anticipate investment of 25bn dollars.
Corn groups from the US, Argentina and Brazil signed a memorandum of understanding this week to form an international alliance of corn producers, collectively called MAIZALL.
In a decision that drew sighs of relief from the biotechnology industry, the US Supreme Court ruled that an Indiana farmer violated agribusiness company Monsanto Co’s patent for a type of soybean. The court agreed unanimously with Monsanto that Vernon Bowman, 75, had performed an end-run around the law when he used the company’s patented soybean seeds without seeking a licence.
While insects can be slimy, cringe-inducing creatures, often squashed on sight by humans, a new book released by the Food and Agricultural Organization (FAO) says beetles, wasps and caterpillars are also an unexplored nutrition source that can help address global food insecurity.
Global food prices rose in April for a third straight month as surging dairy costs kept upward pressure on the FAO index, but cereal output is expected to be strong this year. Food prices spiked during the summer of 2012 as the United States was hit by a severe drought and dry weather plagued other producers. After falling at the start of 2013, prices have been rising again in the past three months
The production and sale of Argentine fruits and vegetables is beginning to rebound after a year in which the sector's problems continued to deepen; loss of competitiveness due to rising costs and lower demand, especially overseas because of the global economic crisis.
Argentina will plant more wheat this season than last year because of farmer-friendly adjustments to the government’s export policy and the bad luck that growers had last season with alternative crops such as barley, a key grain exchange said.
The FAO Food Price Index (FPI) crept higher by one percent in March compared with a month before, driven mainly by an 11% increase in dairy. Dairy products carry a 17% weight among the various commodity prices included in the calculation of the overall FPI.
The logistics chaos in the Brazilian port of Santos (one of the busiest of the country) in mid March with the first shipments of a record soy crop will become even worse in May and June, according to the Jose Augusto de Castro, president of the Brazilian Association of Foreign Trade, AEB.
Brazil’s soybean production has reached record levels this season which could make the country the world’s leading producer but port congestion and lack of storage capacity are impeding exports of soybean as producers fear losing international markets.