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Morning round-up, Monday July 15

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* The Indonesian Palm Oil Association announced on Monday that the country exported around 2.40m tonnes of palm and palm kernel oils in May.

 

This represents a 12% increase in exports compared to a year ago.


Indonesia is the world’s leading producer of palm oil.

 

However, according to a statement from the association, the country’s palm oil exports are under pressure and losing ground to Malaysia due to trade restrictions in India, its biggest market.

 

 

 

* Dow Jones reported on Friday that coffee producers attending the World Coffee Producers Forum in Campinas, Brazil last week failed to reach an agreement on a minimum price plan.

 

According to the news agency, many coffee growers opposed the plan because they believed that the world’s coffee-growing nations would not be able to stick together long enough to convince buyers to reach an agreement on a minimum price.


International coffee prices have reached record lows, causing many farmers to abandon the crop and look for alternative ways to earn an income.

 

A minimum price would give coffee farmers more economic stability.

 

 

 

* China’s Ministry of Agriculture and Rural Affairs said on Monday that the country’s pig herd decreased by 25.8% in June compared to June 2018.

 

The ministry added that the sow herd shrunk 26.7% during the same period.


The news comes as China struggles to contain the spread of African swine fever in the country.

 

Ministry officials reported a new outbreak of the deadly hog disease in Hubei province on Thursday, bringing the number of incidences to over 140 since the first case in August last year.

 

 


* According to European traders, South Korea’s Major Feedmill Group rejected offers for around 60,000 tonnes of feed wheat on Friday.

 

Traders told Reuters that invitations to the tender were sent to a select number of trading house, but that the prices received were considered too high by the group.

 

 

 

* Bloomberg reported on Friday that Indonesian President Joko Widodo has vowed to fight the European Union on the bloc’s plans to drop palm oil from its renewable energy initiatives due to deforestation concerns.


Mr Jokowi was reported to have said that he will take on the EU “because of the 16 million farmers and workers in this business”.

 

 

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