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Morning round-up, Friday August 02

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* US President Donald Trump said on Thursday that he plans to impose a 10% tariff on around $300bn worth of Chinese goods should the Asian country not move faster on concluding a trade agreement.

 

Mr Trump tweeted that he believes Chinese President Xi Jinping wants to make a deal but that “he’s not going fast enough”.

 

The additional tariff is set to kick in on September 1 should the two countries not come to an agreement.

 

According to Reuters, that would extend US tariffs to nearly all of China’s imports into the country.

 

 

 

* FranceAgriMer gave the condition of the country’s grain maize crop a good/excellent rating of 61% in the week ending July 29.

 

This is down from the 67% rating a week earlier.


The reduced rating comes after France faced heatwaves and dry conditions this summer.


FranceAgriMer said that the soft wheat harvest reached 87% by July 29, up from 63% a week earlier.


It gave spring barley a good/excellent condition rating of 72%, unchanged from the previous week.

 

 


* Brazil is set to begin exporting dairy to China this month.

 

According to Viva Lácteos, a local dairy industry group, the exports could lead to $4.5m in annual sales by 2021.

 

Brazil’s Ministry of Agriculture announced last week Tuesday that 24 dairy plants in the country were given export authorisation from China.

 

 


* The US Department of Agriculture said on Thursday that pork exports to China reached 6,300 tonnes for the week ending July 25.

 

According to the agency the low figure was due to China cancelling around 14,700 tonnes of orders for exports in 2019 and 2020.

 

 


* Brazil’s JBS, the world’s largest meatpacker, announced on Thursday that its acquisition of local pork processor, Adelle Indústria de Alimentos Ltda was given the green light by the country’s antitrust authority.

 

The deal, which was first announced in April, is worth USD 59.8 million and will see JBS take control of Adelle’s pork processing plant in Seberi in Rio Grande do Sul state, as well as its integration system.

 

 


* Indonesia’s Ministry of Industry said on Thursday that the government is planning to increase the use of palm oil in the country by expanding the downstream industry.

 

It is hoped that the move will help reduce domestic oversupply of the oil.

 

According to Achmad Sigit Dwiwahjono, the director general of chemical, pharmaceutical and textile industries at the ministry, the government is looking at creating an additional 12m tonnes of absorption capacity per year in the country by 2024.

 

Part of the government’s plan to achieve this is to boost the number of palm oil derivative products from 125 to 150.

 

 

 

* According to the United Nations’ Food and Agriculture Organisation, world food prices remained on a downward trend for the second month in a row in July.

 

In a report published on Thursday the organisation said that its food price index for the month, which measures the monthly changes for cereals, oilseeds, dairy products, meat and sugar, was at 170.9 points.

 

This was lower than the 172.7 points reached in June.

 

 

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