Argentina will produce 10.1 million tons of wheat this season, the agricultural ministry said, citing extreme weather as the reason for cutting back its previous estimate of 10.5 million tons. With almost all of the harvest already collected, Argentina is looking at a thin wheat harvest, compared with the 14.1 million tons collected in the 2011/12 crop year.
The report “Global Food: Waste Not Want Not” by the UK’s Institute of Mechanical Engineers (IMechE) has found that 30-50%, or 1.2-2 billion tons, of produced food is wasted by poor storage, bad distribution and exacting quality standards in the developed world.
US agricultural giant Monsanto Tuesday posted a large increase in quarterly earnings on strong results in corn seed sales in the US and Latin America and better sales of pesticides. The St Louis-based corporation said net income for the first quarter was 339 million dollars, up from 126 million a year earlier.
New Zealand farm workers are doing better than their counterparts in other industries when it comes to wage rises. A Rabobank-Federated Farmers survey has shown farm workers recorded an overall average salary rise of 4.9% in the year to October, 2010.
North-east Brazil is suffering its worst drought in decades, threatening hydro-power supplies in an area prone to blackouts and potentially slowing economic growth in one of the country's emerging agricultural frontiers.
Brazil posted its smallest annual trade surplus in a decade last year as a sluggish global economy curbed demand for its products despite government efforts to boost exports. Brazil's trade surplus fell 35% to 19.44 billion dollars from the prior year, the weakest performance since 2002, Trade Ministry data showed on Wednesday.
The Falkland Islands Government announced the completion of the booklet “Our Islands, Our History”. The booklet provides a succinct and accessible summary of the key aspects of the history of the Falkland Islands, and of the people whose determination and character have forged them to a democratic, prosperous and dynamic community.
Christmas rainstorms across Argentina further delayed soy and corn planting, keeping markets guessing about whether the grains powerhouse can produce enough this season to help bring high-flying global food prices down to earth.
Argentine Agriculture and Livestock Minister Norberto Yauhar accused farmers who organized what proved to be a very effective 24 hours livestock trading strike on Wednesday, of responding to ‘political interests’. The farmers’ Liaison Board said they are considering extending the protest to other economic activities.
Chinese authorities quarantined two containers holding corn from Argentina, after detecting genetically modified strains that had not been approved beforehand, alleged the Chinese buyer.