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Morning round-up, Wednesday October 16

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* Green Coffee Association said that US stocks reached 7.4m 60-kilogramme bags in September, up by 127, 925 bags.

 

 

 

* Taco Bell said that it has voluntarily recalled around 2.3m pounds of seasoned beef products from its restaurants and distribution facilities.

 

The company said it took the decision after a customer found metal shavings in their food.

The USDA said that it had received three similar complaints.

 

Taco Bell’s supplier, Kenosha Beef International, has also issued a recall of beef products produced from September 20 to October 04.

 

 


* The US Department of Agriculture (USDA) said that while sugar prices in China were mostly flat for the first half of the year, it expects an increase in the coming months.

 

According to the department’s sources, this is based on China clamping down on illegal sugar imports, steady demand in the country, and generally higher Chinese food prices.

 

The USDA expects China’s 2019-20 sugar imports to reach 4m tonnes.

 

 


* Pilgrim’s Pride has completed its acquisition of UK-based pork processor Tulip.

 

According to parent company, JBS, the transaction was unanimously approved by Pilgrim’s board of directors and was valued at £290m.

 

 


* Malaysia said on Tuesday that it will be looking into increasing imports of Indian sugar and buffalo meat.

 

According to the country’s minister in charge of palm oil, Malaysia is considering the step “in light of India’s importance as our third largest export destination in 2018 for palm oil and palm-based products”.

 

Reuters sources said last week that Indian officials were looking to raise import duties on Malaysian palm oil after that nation’s Prime Minister criticized India’s actions in Kashmir.

 

 

 

* French finance minister, Bruno Le Maire said on Wednesday that there is hope that a Brexit deal can be reached before the UK is scheduled to leave the European Union at the end of the month.

 

Speaking to Europe 1 radio, Mr Le Maire said negotiators informed him that there appears to be “a glimmer of hope”.

 

The EU and Britain held Brexit talks on Tuesday, however it is unclear if any definitive decisions were made.

 

 

 

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