Ukraine has imposed minimum export prices for certain oilseeds, grains and vegetable oils effective December 1, 2024 to streamline foreign revenue inflows. Hitherto, traders have been purchasing fast-moving grains and oilseeds from farmers in cash and then exporting them at low prices. To prevent this, the government has published base prices which will keep changing each 10th of the...
The UK, Norway and the European Union on December 2, 2024 reviewed the 2024-25 fishing quotas in the North Sea with cuts affecting the Scotland cod fisheries. This marks the second back-to-back reduction of cod allocations since the reinstatement of post-Brexit joint fishing rights. According to the Ministry of Trade and Fisheries of Norway, the total allowable...
A sugarcane union in Uttar Pradesh in northern India has requested better cane prices for farmers. This at a time when preliminary local production is ebbing and sugar prices are falling worldwide. The Bharatiya Kisan Union (BKU) wants the union government to up the price from 370 rupees ($4.37) a quintal to a reasonable 450 rupees ($5.31). In...
The main Omani honey harvest is underway in the northern mountainsides, climaxing the biannual “liquid gold” cultural tradition. At this time of the year, markets in the district of Al Rustaq, a southern governorate, teem with honey. As the gateway to the northern mountains, the district brings the honey via traders to its famous Old Souq. ...
Originally posted on December 2, 2024. Global coffee prices have in late November 2024 soared to $3.3545 a pound for Arabica, the highest since March 1977, following weather concerns in Brazil. Meanwhile, Robusta prices have been at a four-decade high since September 2024 due to supply pressure in Vietnam. Despite falling to $3.181 a pound on November 29...
Originally posted on December 2, 2024. 2024 has been a bountiful year for American turkey production with top producer Minnesota rearing 34 million birds, leading to an affordable Thanksgiving. Turkeys are the main source of meat for the traditional holiday that takes place each final Thursday of November. A 15-pound bird cost $35.30 in the state...
Originally posted on November 29, 2024. The South African cherry sector foresees a bright future that espouses export market growth in spite of recent frost challenges. Although the sector is in its infancy, it has shown remarkable resilience against weather drawbacks. Besides, researchers peg its growth rate at 89% by 2026. And according to Tru-Cape Marketing, exports to China could...
Originally posted on November 14, 2024. Global sugar prices have finished mixed after recent lows, following reports of downward late October harvest in southern Brazil. Sugar #11 or raw cane sugar traded 0.61% up day-on-day in New York’s futures on November 13, 2024. This is even as sugar #5, the code for white sugar, moved downward on the same...
Originally posted on November 19, 2024. Global sugar prices increased by 2.6% in October 2024 due to weather uncertainty in Brazil, inching up the monthly Sugar Price Index. According to the Food and Agriculture Organization (FAO), the index for the sweetener increased by 3.3 points month-on-month to 129.6 points. The value appreciated in tandem with that of cereals...
The U.S.’ peach, nectarine and cherry production is back in the black for the 2024-25 season. While peaches and nectarines will up by 15,000 tonnes, cherries will improve by 13,000 tonnes year-on-year (y-o-y). According to the U.S. Department of Agriculture (USDA) in a September 2024 forecast, the 2024-25 peach and nectarine harvest will amount to 669,000...