* A Malaysian firm has signed an agreement with Dubai-based Hakan Agro DMCC to export palm oil to the Indian subcontinent in 2020.
According to statement from Malaysian Minister Teresa Kok the deal will facilitate exports of more than 1m tonnes of the edible oil.
This comes after Indian vegetable oil trade body, Solvent Extractors’ Association of India in October asked its members to stop buying Malaysian palm oil to punish that country for criticizing India’s involvement in Kashmir.
* China will extend its year-long anti-dumping investigation on Australian barley imports by another six months in line with World Trade Organisation rules.
The country’s commerce ministry said on Thursday that the probe will now be completed by May 19 2020.
* US sugar beet producers Western Sugar Cooperative and United Sugars Corp have issued force majeure notices to clients due to extremely cold weather conditions in the country.
Heather Luther, general counsel for Western Sugar said the cooperative was sharing its available product supply among customers, adding that “these are the worst weather conditions we have had”.
* Traders and farmers in Cameroon told Dow Jones that the arabica coffee prices in the country’s West region rose for the third-straight week to 1,200 Central African francs ($2.01) for a kilogramme of beans.
This is up 3.9% from the previous week’s price of 1,155 Central African francs.
According to the news service, this increase constitutes a 30% rise in the price over the past three weeks.
* ADM’s President for Europe, Middle East and Africa, Ismael Roig said during the Global Grain Conference in Geneva that the company will not be pursuing its “aggressive” level of acquisitions in the coming few years.
He said that the company would instead focus on achieving organic growth by optimizing its business and looking for opportunities in value-added sectors.