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Morning round-up, Wednesday November 13


* Louis Dreyfus’ Brazilian sugar unit, Biosev SA reported a net loss of $73.01m for the last quarter.


This drop in earnings is 95% larger than a year ago.


The company blamed its large debt, a weaker Brazilian currency and lower sugar sales for the massive losses.



* Tyson Food said that it expects its Holcomb beef processing plant to reopen within the next 60 days after a fire forced the company to shut it down in August.


Company chief executive, Noel White, called the timeline a conservative estimate.


Dow Jones reported that the Holcomb plant is one of the US beef industry’s biggest, handling about 5% of the country’s daily cattle slaughtering.




* The African Development Bank, Credit Suisse, the Industrial and Commercial Bank of China, and Ghana Cocoa Board signed a $600m loan agreement to help boost Ghana’s cocoa productivity at the 2019 Africa Investment Forum.


It will include “financial interventions to sustainably increase cocoa plant fertility, improving irrigation systems, and rehabilitating aged and disease-infected farms.”


The money will also be used to increase warehouse capacity and provide support to local cocoa-processing companies.



* Reuters reported that Brazil is looking to increase the amount of biodiesel blended into diesel fuel to 12% next March.


According to industry and government officials, the South American nation might reach a 15% biodiesel minimum by 2023.


Brazil upped the minimum blend amount from 10% to 11% last September.




* Brazil’s Minister of Agriculture, Tereza Cristina Dias, tweeted on Tuesday that 13 more of the country’s meatpacking plants have been authorized to export to China.


Brazilian poultry and pork processors group, ABPA said that of these approved facilities, five are pork plants and three are chicken plants.


The remaining five are understood to be beef plants.



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