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Morning round-up, Tuesday February 13

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Nufarm said that Australian regulators have granted approval for of its canola seed genetically modified to be the world’s first plant-based source of long-chain omega-3 fatty acids.

 

The Australian Office of Gene Technology Regulator announced that Nuseed’s omega-3 canola has been approved for cultivation and use in animal feed, while Food Standards Australia New Zealand has granted approval for use in food in Australia and New Zealand.

 

“We remain on track with our plan to commence commercialisation in 2019, with production programmes planned in the US, pending US approval,” said Andy Thomas, Nuseed global general manager innovation and strategy.

 

 

 

Syria’s state grain agency, the General Establishment for Cereal Processing and Trade (Hoboob), has issued an international tender to purchase 300,000 tonnes of wheat, Reuters reported.

 

The tender, which closes on February 21, invites tenders of wheat sourced from Russia, Romania or Bulgaria, for shipment between April and the end of June.

 

 

 

FMC Corp reported revenues for the October-to-December period of $980m – a rise of 42% year on year at a headline level, or 14% excluding the acquisition of agrichemical interests from DuPont.

 

Earnings for the quarter, on a GAAP basis, rose to $530m, from $16m a year before.

 

“In Ag Solutions, our legacy business posted 9 percent revenue growth versus the same quarter last year, and our integration of the DuPont crop protection business is proceeding very well,” said Pierre Brondeau, the FMC chairman and chief executive.

 

 

 

Indian sugar prices have recovered by some 1 rupee a kilogramme to 30.50 rupees a kilogramme since the government last Tuesday doubled to 100% the import duty on sugar, the Economic Times reports.

 

Spot prices of M 30-grade sugar in New Delhi, having tumbled by 6% between January 10 and 31, have rebounded by more than 3%.

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