President Alberto Fernandez of Argentina ditched the plan for the government takeover of soymeal giant Vicentin, according to a tweet by the leader, after a local judge partially blocked the planned move. In early June, Fernandez had said the government would "rescue" the company, one of Argentina’s top soymeal exporters, but farmers and industry leaders criticized the move as meddling in the private sector.
Uganda coffee exports rose 23% in June compared with the same month last season. This comes as favourable weather and maturing plantations helped boost the crop, according to the Uganda Coffee Development Authority.
Both arabica and robusta coffee prices are seeing to be rising slightly by the end of 2020 despite an overall view of a larger surplus in the 2020-21 season, according to a Reuters poll. Arabica futures are forecast to finish the year at $1.20 per pound, which is 0.9% higher than the settlement on Friday, and robusta futures are seen at $1,390 per tonne at end-December, up 3.42% from last week’s settlement.
French farmers harvested 90% of this year’s soft wheat crop by July 27, up from 71% a week earlier, according to farm office FranceAgriMer on Friday.
Grain exports in Ukraine fell by 33% in July to 2.33m tonnes for the 2021-21 marketing season, the economy ministry said on Friday. Exports included 1.19m tonnes of wheat, 424,000 tonnes of corn, and 714,000 tonnes of barley as of July 31.