Agriculture

Agriculture
Monday, December 28th 2015 - 08:38 UTC

Argentine central bank building reserves: much depends on farmers and bankers

The rate has remained below what minister Prat-Gay hinted as equilibrium rate, 14.20 Pesos per dollar. Since the clamp was lifted, the Peso has been below14-pesos

This short week and the month of January will test if the Argentine administration of president Mauricio Macri can continue to build up Central Bank reserves following on the decision to end the dollar clamp, let the foreign exchange float, together with the prospect of loans and hoarded grain sales.

Monday, December 28th 2015 - 07:31 UTC

Argentina issues US$ 5bn in bonds to pay importers; some restrictions persist

Agriculture Minister Ricardo Buryaile said earlier this week the government owed US$10 billion to importers.

The Argentine government will issue bonds worth US$5 billion to be auctioned this week to pay back debt from imports during the previous Cristina Fernandez administration, according to a resolution published by the current government.

Monday, December 21st 2015 - 07:37 UTC

Groundbreaking WTO agreement on elimination of agriculture export subsidies

This is the “most significant outcome on agriculture” in WTO history because it ends one of the greatest distortions in the market, said WTO Roberto Azevedo

World Trade Organization, or WTO, reached a groundbreaking accord in Kenya on Saturday which obliges developed countries to eliminate subsidies for their agricultural exports as requested by the least developed nations to protect their farmers.

Saturday, December 19th 2015 - 04:41 UTC

China's demand for infant milk makes NZ company shares surge 140% in one year

Imported baby milk powder is now the preferred product in China because of the tainted milk scandal in 2008 which killed six children and left 300.000 ill

Shares in New Zealand dairy firm - The a2 Milk Company (A2) - were up more than 30% in Sydney on Friday after the firm raised its full-year earnings forecast on demand for its infant formula in China and Australia. It is the second time since November the company has raised its guidance.A2 said group revenue could reach US$ 212 million for the period, up from US$180.

Thursday, December 17th 2015 - 06:50 UTC

Argentina lifts foreign currency controls and let's Peso float, as of Thursday

“He who wants to import will be able to do so, and he who wants to buy dollars will be able to buy them,” Finance Minister Alfonso Prat-Gay announced

Argentina announced on Wednesday it was lifting currency controls and would allow the peso to float when markets open on Thursday, setting the stage for a devaluation, following pledges by new president Mauricio Macri for reforms to spur economic growth.

Tuesday, December 15th 2015 - 08:36 UTC

Brazil in recession, but farming is booming with the 29% fall of the Real

Brazil has become the world’s largest exporter of soybeans, beef, coffee, sugar and orange juice.

Financial and political turmoil that have Brazil on the brink of a depression is also contributing to one of the best years ever for domestic farmers. Economic stress and a weak currency has facilitated export revenue for everything from soybeans to beef to coffee.

Tuesday, December 15th 2015 - 08:18 UTC

Macri slashes agriculture export duties; farmers promise 30% larger crop next year

“I am going to sign the decree today,” Macri said in a speech to farmers in the town of Pergamino, in the heart of the Argentine Pampas

Argentina's business friendly president Mauricio Macri, announced on Monday large tax cuts on agricultural exports and emphasizing that “the camp was essential to get Argentina back on its feet”. Macri, who took office Thursday, had promised to slash the steep taxes on agricultural exports, which triggered major protests by producers against former president Cristina Fernandez administration.

Monday, December 14th 2015 - 08:17 UTC

Brazil's harvest for 2016 estimated at 209.3 million tons, slight drop from 2015

 The harvest includes 101.5 million tons of soybeans; 28.8 million tons of corn and 12.2 million tons of rice.

Brazil's harvest in 2016 will reach 209.3 million tons, which is 0.5% less than in 2015 according to the estimates from the Brazilian stats institute, IBGE. The fall is related to less crops of oilseeds, cereals and legumes in the centre west of the vast country, which is also the main farming area, as well as in the north.

Tuesday, December 8th 2015 - 00:27 UTC

Major food commodity prices down 18% over a year ago, says FAO index

FAO Cereal Price Index fell 2.3%, with coarse grain prices falling even more due to favorable harvests in the US, world's largest maize producer & exporter

Major food commodity prices fell in November, reversing about half their rise in the previous month, as the cost of internationally-traded staples, except for sugar, fell across the board. The FAO Food Price Index averaged 156.7 points in November, down 1.6 percent from its revised October average, and 18% below its value a year earlier.

Friday, December 4th 2015 - 05:07 UTC

Agriculture can boost production by 40%/50% with measures announced by Macri's team

Once measures are implemented Argentina's grains and oilseed crop can “increase by 40% to 50%”, said Argentina's King-soy

Gustavo Grobocopatel, head of the agro-business Grobo group anticipated that with the measures announced by the team of president elect Mauricio Macri and to be implemented from next 10 December, Argentina's grains and oilseed crop “it going to increase by 40% to 50%”, meaning dollars for industry, jobs and services.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!