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Morning round-up, Wednesday March 04

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* According to the Solvent Extractors’ Association of India, the country’s rapeseed output could jump by 4% in 2020 to total 7.8m tonnes.

 

It said that favourable weather conditions were behind the projected increase in production.

 

 


* Argentina’s agriculture ministry confirmed on Tuesday that it plans to raise export taxes on soybeans, soyoil and soymeal from 30% to 33%.

 

The move is part of President Alberto Fernandez’s plan to boost state income.

 

Argentina is the world’s leading exporter of soymeal for livestock feed.

 

 


* Wandile Sihlobo from South Africa’s Agricultural Business Chamber said the spread of coronavirus could hurt the country’s agricultural earnings.

 

Dow Jones reported that, according to Mr Sihlobo, recent good rains have prompted the government to up its 2019-20 estimate for summer crops to nearly 17m, a 26% increase from the year before.

 

He added that the spread of coronavirus could negatively affect global demand for agriculture products, possibly hurting South Africa’s agriculture sector.

 

 


* Ukraine said on Tuesday that it will be selling state-owned grain company, DPZKU.

 

Prime Minister Oleksiy Honcharuk called the business “unprofitable and inefficient” on paper.

 

According to Reuters, the company runs 47 grain silos across the country.

 

 


* A Chinese government work group on Tuesday urged provinces to guarantee that the country’s grain output does not decline this year as it moves to prevent possible food shortages resulting from coronavirus containment measures.

 

The group also said that regions with good growing conditions should restore double-cropping of rice to boost supplies.

 

 

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