World Farming Agriculture Commodity news - Weekly Updated - Exclusive and very popular - Delivering a Media service 365 days of the year.
Across the world, businesses aren’t waiting until U.S. Inauguration Day on Jan. 20 to see which countries, products or tariff rates are announced in President-elect Donald Trump’s widely telegraphed trade wars, according to Bloomberg. The mere threat of his universal tariffs is sparking a scramble that’s leaving the global trading system prone to bottlenecks, saddled with higher costs and vulnerable to disruptions should an economic shock come along.“We’re still in the freakout period,” Robert Krieger, president of Los Angeles-based customs brokerage and logistics advisory firm Krieger Worldwide, told Bloomberg. “There’s about to be a king tide in the supply chain.”To get ahead of the game, some firms are frontloading orders. Others are seeking new suppliers or, if that’s not possible, renegotiating terms with existing ones. A common theme: The renewed stress comes with higher costs, in the form of bigger inventories, costlier expedited shipping, or taking a chance on untested partners. Profits will suffer and expenses will be reduced elsewhere, they said. Ultimately consumers will foot the bill.
Brazil’s soybean and corn exports revealed contrasting performances in November, according to the latest Logistics Bulletin from the National Supply Company (Conab). Soybean exports faced a decline, while corn exports surged, bolstered by robust global demand. From January to November, soybean exports totaled 96.8 MMT, a drop from 101.8 MMT in the same period of 2023. This marked a shift in Brazil’s export revenue leadership, as soybeans lost ground to oil. The last time soybeans were not Brazil’s top export earner was in 2021, when iron ore took the lead. Corn exports, on the other hand, displayed significant growth, as movement through the Northern Arc of ports jumped. Conab forecasts continued growth in Brazil’s agricultural exports, driven by production recovery and improved logistics.
Chinese authorities on Friday called for increased financial support to stabilise key agricultural products, including grain, as part of broader efforts to ensure food security for China's 1.4 billion population, reported Reuters. The government pledged to strengthen the use of monetary policy tools such as relending and rediscount facilities, and reserve requirement ratio, to support agriculture and small businesses, according to a joint statement from the central bank, the agriculture ministry and the financial regulator. The government also urged expanding credit and pledge loans for agricultural assets and livestock, enhancing farmers' income through guarantee and small loans, and reinforcing the agricultural insurance system, particularly for grain planting. In addition, the government pledged greater support for major agricultural research projects and leading firms. In recent years, China has increased investments in farm machinery and seed technology to enhance production efficiency as part of efforts to reduce reliance on imports and strengthen food security. The country's total grain production reached a record of more than 700 million metric tons in 2024, 1.6% higher than 2023's harvest of 695.41 million tons, the National Bureau of Statistics said earlier. Despite efforts to boost domestic production, China remains reliant on imports of key agricultural products, especially soybeans and corn.
Global Food Partners (GFP) has partnered with Nguyen Gia Livestock Production Cooperative, led by Mr. Nguyen Huu Tue, one of North Vietnam's largest egg producers, to spearhead the country's largest transition from caged to cage-free egg production. With a flock of approximately 50,000 laying hens, the Cooperative will achieve 100% cage-free operations in 2025 through GFP’s technical expertise and Impact Incentives program. This groundbreaking initiative not only supports Vietnam’s growing demand for responsibly sourced eggs but also empowers local producers to meet the 2025 cage-free commitments of food and hospitality businesses across the region.
Chicago Mercantile Exchange (CME) live cattle futures rose on Thursday on strong wholesale beef prices and bullish chart signals, Reuters reported, citing traders.February live cattle settled up 2.725 cents at 190.100 cents per pound, breaking through chart resistance at the contract's 20-day moving average for the first time in a week.CME January feeder cattle futures finished up 3.450 cents at 259.300 cents per pound and March feeders jumped 4.500 cents to end at 259.500 cents a pound.Firm beef prices set the tone, along with stabilising US equity markets that raised optimism about consumer demand for pricey cuts of beef. The Dow Jones Industrial Average closed fractionally higher, stretching its winning streak to five sessions despite light post-Christmas trading volumes. The US Department of Agriculture (USDA) priced choice cuts of boxed beef on Thursday afternoon at $320.39 per hundredweight (cwt), up $4.41 from its last report on Tuesday and close to a two-month high set last week. Select cuts rose to $288.77 per cwt, up $2.02.The government reported Thursday's slaughter at 119,000 head of cattle, down from 121,000 a week ago and 124,756 head a year ago, slowed by this week's Christmas holiday and negative profit margins for beef packers.CME lean hog futures closed narrowly mixed, with benchmark February futures settling down 0.200 cent at 84.200 cents per pound while April hogs ended 0.075 cent higher at 89.250 cents.
World Farming Agriculture and Commodity news - Short update -23rd December 2024
China will launch an investigation into beef imports, the commerce ministry said on Friday, as the world's biggest meat importer and consumer grapples with an oversupplied market that has sent domestic prices to multi-year lows, reported Reuters. Any trade measures to try to reduce beef imports would hit China's largest suppliers, Brazil, Argentina and Australia.China's total beef imports reached $14.2 billion in 2023, surging from $8.2 billion in 2019, customs data show. Brazil accounted for 42% of the total trade value, followed by Argentina at 15% and Australia at 12%.The inquiry will focus on fresh beef, cold beef, head of beef and frozen beef imported between Jan. 1, 2019 and June 30, 2024, the ministry said in a statement, adding that it followed an application by the China Animal Husbandry Association and other cattle and livestock groups.The applicants said a sharp increase in import volumes over the period had "seriously damaged" China's domestic industry, the ministry said.Beef imports in 2023 were almost 65% higher than in 2019, it said, with imports in the first half of 2024 more than double those in the first half of 2019.The ministry said imports of the products under investigation accounted for 30.9% of the Chinese market.Meat prices in China, including pork, beef, and poultry have declined as shoppers, grappling with a slowing economy, buy less."Most beef cattle farms in China are in a loss-making situation," the China Animal Husbandry Association was reported saying in a state media report. "The impact of a large amount of imported beef is undoubtedly adding insult to injury."The price of beef has fallen to its lowest level in the last five years, and the price of live cattle has fallen to the lowest in the last 10 years, the association said.Average wholesale beef prices have declined 22% to 59.82 yuan ($8.20) a kilogram in late December from 77.18 yuan two years ago, agriculture ministry data showed.The Brazilian government said in a statement that it will work over the coming months to demonstrate that the beef Brazil exports to China is "complementary" to Chinese beef output and does not harm the Asian country's industry in any way."The Brazilian government reaffirms its commitment to defending the interests of Brazil's agribusiness while respecting the sovereign decisions of our top trade partner," it added.
After food prices soared in 2021 and 2022, over five essential food products saw price drops in 2024, including milk and cereals. In 2024, agricultural prices in the European Union saw a modest decline, falling by 2% compared to 2023. This price decline followed sharp increases in 2021 and 2022 that occurred due to the COVID-19 pandemic, extreme weather conditions and Russia's invasion of Ukraine. Despite a surge in olive oil prices in 2024, the prices of cereals dropped by 15%, eggs by 8%, and vegetables and horticultural products declined by 2%. The price of pigs and poultry also shrank by 7% and 8%, respectively. According to Eurostat figures, milk prices decreased in 16 EU countries in 2024. The sharpest decline was recorded in Finland with a 12% drop in prices, followed by Portugal with 10% and Spain with 8%. By contrast, the sharpest increase was in Ireland with a 15% rise in prices, followed by Lithuania with 11% and Latvia with 10%.
Farmingportal and Agri News Net is connected to 35 Media companies around the world.
