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Morning round-up, Wednesday November 06


* Australia’s wheat production is likely to drop by 19.1% during the 2019-20 season.


According to INTL FCStone, a poll of its clients showed that the country’s wheat output could reach 15.54m tonnes, lower than Australia’s official forecast of 19.2m tonnes.


The poll also showed that the country’s canola production was likely to reach 1.82m tonnes, which is below the official estimate of 2.3m tonnes.



* Australia’s Minister for Trade Simon Birmingham called on China to complete its antidumping investigation into Australian barley suppliers soon.


The Asian nation kicked off the investigation in November 2018 and is now approaching the one-year deadline for antidumping probes set by the World Trade Organization.


Chinese investigators, however, can apply for an additional six months.


Mr Birmingham said Australia wants the investigation concluded “in accordance with proper processes” and added that China will find no improper activity by Australian suppliers.


China’s investigation is believed by many to be politically motivated.



* Switzerland’s Barry Callebaut said on Wednesday during its financial year results announcement that it wants to grow sales volumes by 4-6% over the next three years.


The chocolate maker said that its sales volumes grew 5.1% to 2.14m tonnes for the year ending August 31.


Net profits jumped 6.9% to 368.7m Swiss francs ($371.4m).



* Canadian Prime Minister Justin Trudeau announced via Twitter that China will resume imports of Canadian beef and pork.


The Asian nation blocked shipments of Canadian pork and beef more than four months ago after it found falsified export certificates.


Canadian officials, at the time, confirmed the findings.




* India’s Tea Board said on Tuesday that the country’s September output jumped 5.7% from a year earlier to 184.72m kilogrammes.


The board said the increase was due to higher output from the country’s top-producing Assam state, which delivered 108.48m kilogrammes of tea for the month compared to 100.57m kilogrammes in September 2018.


The country’s tea production for the first nine months of 2019 reached 1006.4m kilogrammes, up 2.8% from a year earlier.



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