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Morning round-up, Monday July 29


* Olam India said on Friday that the country’s rice exports for the 2019-20 season could reach a seven-year low of 10-11m tonnes, down from the 11.95m tonnes exported during the 2018-19 season.


Vice President for Olam India’s rice business, Nitin Gupta blamed the weaker exports on a drop in rice demand from African countries.




* Cocoa prices in Cameroon’s Centre region, the country’s top grower of the crop, dropped 4% last week.


According to Dow Jones, the price for a kilogramme of cocoa beans reached $1.85 last week, lower than the $1.92 it sold for the week before.


The drop in price is due booming harvests in the region.



* China’s National Agricultural Technology Extension Serve Center said on Friday that fall armyworm infestations in the country will increase in the second half of the year.


According to the government-backed institute, the pest is expected to infest another 1.33m hectares of corn-growing farmland in the country.


Fall armyworm has spread to 21 provinces in China since it was first found in January.


Around 792,000 hectares of corn-growing land were infested in the first six months of the year.



* Chinese customs officials said on Friday that the country has approved imports of wheat from Russia’s Kurgan region.


China has also approved soybean imports from all parts of the European nation.



* Indonesia’s director of trade security at the trade ministry said that the EU’s plan to place anti-subsidy duties on Indonesian biodiesel is part of a larger plan to block palm oil sourced from the Asian nation.


Last week the EU proposed implementing duties ranging from 8% to 18% on biodiesel imported from Indonesia to counter what it believes to be unfair subsidies.


Indonesia, however, thinks that the move is part of the EU’s plan to completely phase out palm oil for use as a renewable transportation fuel on the continent.


The Asian nation believes the EU is taking action against foreign palm oil to clear its market for European-origin vegetable oils and biofuels.




* Greece on Friday issued a ban on pork imports from neighbouring Bulgaria due to African swine fever outbreaks.


Bulgaria has already reported more than 20 cases of the disease and culled more than 50,000 pigs.


Greece said that it would also be stepping up checks on the border between the two countries and searching visitors’ luggage for banned meat products.



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