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Morning round-up, Thursday July 11

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* Canada will be giving the country’s beef industry CAD8.3m in federal funds to help it grow international market opportunities.

 

According to a statement released by the Ministry of Agriculture and Agri-Food on Wednesday, the funds will go to six organizations, with around CAD5.3m going to Canada Beef to find new markets for the country’s beef.

 

 

 

* Ivory Coast and Ghana are continuing discussions with cocoa buyers in the hopes of setting a minimum price agreement soon.

 

Dow Jones reported on Wednesday that, according to Koffi N’Goran from the Ivory Coast’s Coffee-Cocoa Board, there is no deadline to reach an agreement.

 

Both countries are responsible for around 60% of the world’s cocoa and are keen to settle on a minimum cocoa price to improve the incomes of farmers.

 

 


* China’s Ministry of Agriculture and Rural Affairs revised down its forecast for corn consumption in the country during the 2019-20 season by 2m tonnes.

 

It estimated last month that consumption would reach 280m tonnes for the season.

 

 

 

* French farming agency FranceAgrimer has raised the country’s soft wheat stocks estimate to 2.5m tonnes for the 2018-19 season which ended last month.

 

This was up from the 2.4m tonnes it forecast the month before.


The agency’s new estimate is still below the five-season average of 2.9m and is the country’s lowest since the 2013-14 season.

 

 

 

* Chinese custom officials have warned meat exporting countries to respect its import rules.

 

Reuters reported that the country’s Director General of the Import and Export Food Safety bureau made the announcement on Wednesday at a meeting with representatives from 30 countries.


China recently blocked all meat imports from Canada after finding multiple problems with shipments, including the use of unofficial email accounts, signatures that don’t match across documentation, and trace amounts of ractopamine in pork, a banned feed additive in China.

 

 

 

* According to Beijing News, Chinese officials have discovered fall armyworm in the country’s Shanxi province.

 

This makes it the 21st province in the country to report the destructive pest, further raising concerns that it could seriously affect China’s grain output.

 

 

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