Argentine farmers threatened to go on strike for a second time this year if the government does not change their policy towards them. At a meeting in Buenos Aires province city, Bahia Blanca, farm workers leaders met to discuss the week-long strike, which began last Monday. Farmers have stopped the sale of wheat, corn and soybean over export curbs.
The National Agriculture Society (SNA) this week predicted 2 to 4% growth in 2011 for Chile’s agriculture-based industries, compared to this current year’s dismal 1.9% growth.
Argentina’s Agriculture and Livestock minister Julian Domínguez and representatives from the cereals and oilseed markets coincided that Argentina will have a record crop this 2010/11 season and considerable export surplus of wheat and corn: 5.5 million and 18.5 million tons respectively.
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
US Department of Agriculture (USDA) has cut its forecast for global wheat production in 2010-11, but by less than expected. USDA now predicts total output of 643 million tonnes for the current agricultural year, down from its August forecast of 645.7 million.
Despite a large rise in the two months to August, wheat prices remain well below levels reached during the boom in 2008 and market pricing indicates that the risks of further large price spikes have eased, says a report from the IMF.
Surging wheat prices drove international food prices up 5% last month in the biggest month-on-month increase since November 2009, FAO announced. The FAO Food Price Index (FPI) averaged 176 points in August, up nearly nine points from July, FAO said in its latest update on the global cereals supply and demand situation.
British scientists have released draft sequences of the wheat genome, which they think could make a vital contribution to securing global food supplies. The researchers say their efforts could help British farmers to develop new strains with greater yields.
Russia has enough grain to cover its domestic needs after harvesting this year 38% less than the previous crop, a senior official said Monday. However markets believe Russia could be forced to import several million tons to ensure grain reserves until the following 2011 harvest
Wheat futures advanced for the first time in four sessions in Chicago trading after Ukraine, the second-largest exporter in the former Soviet Union last year, said it will probably limit overseas sales, following Russia’s restrictions on trade.