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Morning round-up, Wednesday February 19

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* Bunge has made a bid to acquire two soy processing plants from Brazilian crusher Imcopa.

 

The company said that it was waiting on a court decision to continue with the process.

 

According to Reuters sources, the company agreed to pay about $12m for the plants and assume around $229.5m in debt related to the assets.

 


* Egypt’s supply minister announced that the country’s strategic wheat reserves were enough for 4.7 months of consumption.

 

Sugar reserves were at 5.3 months.

 

 


* Dairy firm, Arla Foods, said that its 2019 profits have stagnated despite launching new products.

 

It reported an operating profit of E406m in 2019, not much different from the E404m reported in 2018.

 

The company expects revenue for this year to reach between E10.4bn and E10.8bn compared to 2019’s E10.5bn.

 

 


* Cocoa prices in Cameroon’s Centre Region have fallen again this week.

 

Farmers and traders in the country told Dow Jones that a kilogram of cocoa sold for 1,250 Central African francs this week, down 4% from the week before.

 

They attributed the price drop to an increased supply of cocoa beans in the region.

 

 


* France on Monday confirmed an outbreak of tomato brown rugose fruit virus on a farm in the Brittany region.

 

According to the agriculture ministry, the farm had been placed under quarantine and the affected plants were destroyed.

 

The ministry is in the process of testing other farms which were supplied with the same tomato plantlets, which it had traced back to the UK.

 

 


* ProAgro on Wednesday forecast Ukraine’s 2020 grain harvest at 72.673m tonnes, down 3.19% from 2019’s 75.1m tonnes.

 

The agriculture consultancy blamed the drop on a smaller winter wheat sowing area and unfavourable weather conditions.

 

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