Agri-Shop Ltd
Farminguk
04 May 2016 | Online since 2003
OvoConcept


19 September 2012 09:21:53|

France to convene G20 meeting to avert food crisis


France said that they are to convene an emergency meeting of the G20 in October to discuss possible measures to avert an emerging food crisis. On the agenda are said to be proposals to limit the usage of biofuels derived from crops to a less than 5% inclusion rate.
EU wheat closed mixed but mostly lower on the day, with Nov 12 London wheat up GBP0.50/tonne to GBP205.00/tonne and Nov 12 Paris wheat falling EUR1.25/tonne to EUR259.00/tonne. This was the first front month close below EUR260.00/tonne for the latter in a month.
The markets did a pretty good job of ignoring tumbling US soybean prices, which were sharply lower for a second day in succession.
ABARES maintained their view that Australia would export 23 MMT of wheat in 2012/13 - matching the 2011/12 record and 2 MMT more than the USDA currently predict. They are also more bullish than Washington on global wheat prospects this year, pegging the world wheat crop at 665 MMT - 6 MMT more than the USDA's estimate.
The Russian Ministry stuck by their forecast of a grain crop there of 70-75 MMT this year, around 20-25 MMT less than a year ago.
Nobody is sure how, when or even if they will make any move to restrict exports, although most are convinced that something will have to be done before too long.
The Kazakh Ministry said that their grain harvest was 87% complete, producing 11.5 MMT to date. The Ukraine Ministry said that their harvest was 72% done producing 28.5 MMT so far. Yields are averaging 2.63 MT/ha, 14.6% down vs 3.08 MT/ha last year.
Corn harvesting there is only in the early stages, producing 2.63 MMT so far. Agritel estimate a total harvest there this year of 19.5 MMT of corn, 14 MMT of wheat, 6.76 MMT of barley and 1.1 MMT of rapeseed.
That would potentially be a stark about turn, one about which the Secretary General of the EU Biodiesel Board said he was "surprised, concerned and shocked." Some recent reports have suggested that biofuels from food crops are maybe "not as environmentally friendly as first thought.

Download





0 Comment


Name

Please enter your name


Email

Comment

Please enter your comment


Post Comment

Your comment submitted successfully.Please wait for admin approval.


Comments

No comments posted yet. Be the first to post a comment

World News

Argentina | 4 May 2016
Food traders stuck in the hard times

A recent bout of poor weather has damaged South America’s corn and soyabean crops, and this has provided a rare reason for optimism at some of the world’s largest traders of food. These companies o...


New Zealand | 4 May 2016
Imported feed blamed for velvetleaf outbreak in maize crops

Imported maize used as chicken feed is being blamed as the likely cause of velvetleaf being found in Waikato maize crops. The feed is thought to have entered New Zealand contaminated with velvetlea...


India | 4 May 2016
Drought sparks distress sale of cattle

Acute shortage of fodder triggered by prolonged heat wave across Telangana is driving thousands of farmers to sell off their cattle. The Telangana Goshala Federation, which works for the rescue and...


USA | 4 May 2016
Aging agriculturalists: Study raises concern over farmland future

LaSalle Florists has been growing for 82 years, but current owner John LaSalle, who says he started at age 3 in the business his grandfather launched in 1934, is in his 60s, and looking ahead to the d...


Ireland | 4 May 2016
Dairy farmers push for suspension of superlevy

The Cork-based dairy farmer wants the new minister to prioritise the full use of the EU Commission’s temporary State Aid allowance to support farmers. “2016 superlevy repayments will begin to be de...



Trending Now

Viewed
Discussed

Farms and Land for sale


Holiday Rentals search



Top stories you may have missed
Username
Password