China has bought at least 70,000 tons of Argentine soybean oil after Beijing decided to unlock the imports ban that had resulted in a mounting-tension conflict. The move came after China agreed to allow all products coming from Argentina to enter its ports and was reported by Oil World magazine.
United States farm exports may surpass a 2008 record of 115.3 billion US dollars on surging corn, soybean and wheat prices, according to Joe Glauber, the US Department of Agriculture’s chief economist.
The combination of policies from the Argentine presidential Kirchner couple and scarce rainfall have had devastating consequences for agriculture and livestock breeding, claimed Hugo Luis Biolcati president of the Argentine Rural Society, SRA, the country’s strongest farmers’ lobby.
The countries of Central and Eastern Europe and Central Asia have vast untapped agricultural resources and can play a vital role in improving world food security, the FAO and EBRD (European Bank for Reconstruction and Development) said at the opening of a two-day meeting in Istanbul this week.
China’s two largest state-owned grains and oilseeds trading companies to import soybean oil from Argentina, easing restrictions imposed in April. Beijing-based Cofco Ltd., China’s biggest grain trader, and China Grain Reserves Corp. have been cleared by the commerce ministry to import soybean oil from Argentina.
United States corn and soybean futures resumed their rally Monday as a surprising government crop report from last week continued to drive concerns over supplies.
Brazil forecasts a record crop of cereals and oilseeds totalling 148.9 million tons, the largest ever, according to the latest release from the Brazilian Geography and Statistics Institute, IBGE.
The cultivation of genetically modified plants increased globally in 2009 with the field area rising by nine million hectares over 2008 to a total of 134 million.
World Bank president Robert Zoellick expressed concern about the renewed speculation with agriculture commodities which in the last months have seen prices of food in developing countries soar
Experts from more than 75 FAO Member States agreed Friday that while there were no grounds for complacency, there was no indication of an impending world food crisis. They proposed exploring new measures to check food price volatility and manage associated risks.