The government of Argentine Sunday decided to shut down all registrations for new soybean oil and soybean meal exports until further notice, it was announced. Authorities are also said to be planning a 2% rise to export taxes of industrial by-products, to level it up with the 33% charged to soybeans.
Ukraine’s government has suspended rye, barley, wheat, millet, and salt exports until the end of the year, while new rules for overseas sales of corn, buckwheat, sugar, live cattle, and meat have also been established.
Agricultural power Brazil faced with an insufficient stable supply of fertilizers for its farmers, and given the current volatility of international prices because of the war in Ukraine has made public the goals of its National Fertilizer Plan, which includes some sharing with Mercosur partners.
Argentina’s corn 2021/22 crop has now been estimated at less than the 48 million tons of just a few weeks ago, according to the Rosario grains exchange, because a severe drought has slashed yields. Likewise with soybeans first estimate of 40,5 million tons.
The benchmark gauge for world food prices went up in February, reaching an all-time high, led by vegetable oils and dairy products, the Food and Agriculture Organization of the United Nations (FAO) has reported.
Brazil will be launching this month an ambitious national plan to stimulate investment in the country's fertilizer industry, cutting on foreign dependency now worsened by the Ukrainian war and shipping difficulties.
The Russian invasion of Ukraine has also caused major disruptions in the agricultural commodities' markets with soaring prices for wheat, corn, soybeans... and much speculation.
China will begin the sale of state-owned reserves to increase supply in the world’s largest oilseed market, the National Food and Strategic Reserves Administration announced, although no auction volumes or dates were advanced.
French poultry industry group supported the government's decree banning meat imports from animals treated with growth antibiotics, a practice prohibited in the European Union since 2006, but which still needs to be fully implemented particularly for the poultry sector.
While Brazilian President Jair Bolsonaro was in Moscow visiting his close friend and admired populist 'strong man' Vladimir Putin, in the midst of the escalating situation in Ukraine, and brushing off critics saying Brazil is nobody's a puppet, his agriculture minister was in a more strategic mission, --in another outcast country--, but crucial for the booming farming sector.