TRT Market Reports

With wheat prices starting to decline from near record highs, Egypt booked its largest wheat tender in more than a decade to increase stockpiles that have been impacted by the war between its two biggest suppliers – Russia and Ukraine, according to a June 30 Bloomberg report.

Botswana on Monday launched a ceremony to celebrate a harvest of Chinese water-saving and drought-resistant rice in the southern African country.

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The Council for Scientific and Industrial Research-Savanna Agricultural Research Institute (CSIR-SARI) has introduced a new irrigation farming method to maximise water use and improve rice yield.

Food prices have been on the rise in the past few months. And rice, a staple food in much of Asia and some parts of Africa could be next, industry watchers said.

President Adama Barrow, Friday, 24th June 2022, received a delegation led by the Korean Ambassador to The Gambia, H.E. Kim Ji-Joon, at the State House in Banjul.

Farmers call for more acreage to be placed under rice farming

In July of 2015 after the swearing in of President Muhammadu Buhari as Nigeria’s leader, the Central Bank of Nigeria introduced a policy of capital controls to limit the amount of foreign currency that Nigerians can spend per day for transactions locally and internationally.

The Delta State government has revealed that it has perfected plans to tap into the robust ecology of the State and is set to grow truly Nigerian rice that would compete favorably with rice variants all over the world.

When the Akufo-Addo – Bawumia led government took over the helms of affairs on the 7th of January 2017 with a landslide electioneering victory in December the year before, many were expecting a much better economic administration especially considering the unrestrained campaign the New Patriotic Party (NPP) embarked on with the nation’s Veep Mahamudu Bawumia at the forefront.

The strained supply chain and other issues important to the grain industry were discussed at the 49th annual Australian Grain Storage & Protection Conference.

The Ministry of Agriculture is urging villages, especially in the rural areas to take up rice farming.

Fiji will be self-sufficient in rice within 20 years, said Minister for Agriculture Dr Mahendra Reddy in Rakiraki on Monday.

GrainCorp has unveiled plans to build 2 million tonnes of new storage capacity as part of an upgrade of its grains receival network on the east coast of Australia (ECA). The announcement comes on top of a 1.5 million-tonne expansion of additional storage in 2021.

The Australian Government is supporting quality rice seeds through the Quality Declared Seed (QDS) system under the Cambodia-Australia Agricultural Value Chain Programme (CAVAC), according to the Australian Embassy in Cambodia.

Northern Rivers rice growers who lost half their crops in the recent floods say they have been dealt another blow. 

Every time you serve rice at home or have it at a restaurant in town, there is a high chance it had travelled over 8400 kilometres from Asia to reach your plate.

Thanks to consistent rainfall and well-timed warm temperatures, the New South Wales rice crop is set to be the largest in five years, with the industry predicting 600,000-650,000 tonnes to be received into storages by the end of May.

Queensland government scientists are working to double soybean production in high rainfall coastal and hinterland areas within three years, a move that could potentially spark further growth in what is currently a $30 million industry in existing and emerging crop regions in Bundaberg, Mackay and the Burdekin.

Minister for Agriculture, Doctor Mahendra Reddy says approximately 80 percent of rice consumed in Fiji is mostly imported from Vietnam and we are losing out $42 million per year by paying for the rice.

The worst drought Italy has faced in 70 years is thirsting paddy fields in the river Po valley and jeopardizing the harvest of the premium rice used for risotto.

The Italian province of Pavia, renowned for its production of various types of risotto rice, has been hit by the country’s worst drought in 70 years.

The worst drought Italy has faced in 70 years is thirsting paddy fields in the river Po valley and jeopardizing the harvest of the premium rice used for risotto.

The country’s wealthiest city of Milan is turning off public fountains

The government has decided to reduce the duty on rice imports to meet the local demand and stabilise the market as a shortage of wheat supply made many consumers dependent on rice.

While it is clear what is on offer for those wanting to leave, it is much less clear what will happen to those who remain.

The  European Union is to amed current levels of red yeast rice-dervived monacolins permitted in food in a move that ends the regulatory wrangling of this component dating back to 2020.

The European Union is sticking with a plan to halve the use of the pesticides by 2030 even as agriculture comes under pressure from shortages sparked by Russia’s tactics in its war against Ukraine.

Cambodia’s rice export to European markets have remained mostly unaffected by the global hike in oil and gas prices, despite increase in export price.

A cargo ship carrying 18,000 tonnes of Ukrainian corn arrived in Spain on June 13 after being shipped via the Baltic Sea to circumvent Russia’s blockade, imposed following its invasion of Ukraine on Feb. 24, CNN reported, citing a statement from the Agafac regional feed manufacturers association of Spain.

Persistent drought and high fertilizer prices are conspiring to cut Argentina’s 2022-23 wheat planting area estimate, Reuters reported, citing the Buenos Aires Grains Exchange on June 16.

But the issue that's putting the most pressure on global food prices is undoubtedly the record inflation that's bumped up the cost of foods such as meat, poultry, and fish, as well as fresh fruit, pre-packaged cereals and baked goods, according to CNBC.

The government of Panama decided to import some 60 thousand tons of rice to guarantee the consumption of one of the country’s main products.

President Luis Abinader supported the success of the Dominican Republic in the fight against Covid-19.

Laborers wait after unloading the sacks of rice at a wholesale market, amid the country's economic crisis in Colombo, Sri Lanka, May 20, 2022.

Mexico will waive import duties for one year on a range of household staples, most of them foodstuffs, in a bid to curb inflation, the government said on Monday.

Mexico aims to as much as triple its fertilizer production, the government said on Sunday, to support its plan to boost local agriculture production and control consumer price inflation.

Expected dry weather will mean a smaller wheat crop in Argentina in the 2022-23 marketing year, according to the Rosario Grains Exchange.

The Arkansas Agricultural Experiment Station's Rice Breeding Program off-season harvest in the U.S. territory of Puerto Rico pulled in a record amount of rice breeding materials this year for ongoing experiments and seed increases.

Self-Help International is promoting the cultivation and consumption of biofortified rice in Nicaragua, making rice the third nutritionally enhanced crop that Self-Help has introduced there.

India and Cuba held the second round of Foreign Office Consultations in Havana during which the two sides reviewed the entire gamut of their bilateral relations, and signed an agreement on short-term credit worth Euro 100 million for procurement of rice from India.

The United Arab Emirates is interested in purchasing Thai rice, Vice Commerce Minister Sansern Samalapa said on Wednesday.

The resolution applies to all wheat varieties (spelt), namely hard, ordinary, and soft wheat, and wheat flour (spelt flour)

The United Arab Emirates (UAE) has ordered a four-month suspension in exports and re-exports of wheat and wheat flour originating from India, the world's second biggest producer of the grain, state news agency WAM said on Wednesday.

On May 8, the Iraqi Ministry of Agriculture warned that 90 percent of Iraqi agricultural land has been desertified or is at risk of desertification in the near future, due to climate change and water disputes with Iran and Turkey.

Due to global supply concerns, Egypt, perennially among the world’s largest wheat importers, will allow wheat shipments with a moisture level of up to 14% for a year, up from 13.5%, Reuters reported, citing a trade ministry document.

Afghanistan needs jobs. In the medium and long terms, nothing else can help the country struggle back to its feet.

Drought is threatening the Iraqi tradition of growing amber rice, the aromatic basis of rich lamb and other dishes, and a key element in a struggling economy.

Turkey's leading agribusiness firm Yayla Agro Gida is expecting to raise 887.5 million lira ($59.25 million) in an IPO this week, and it will be followed by a new investment in Turkey and a buy-out in the United States, its chairman said.

Iran’s campaign to bypass US-led sanctions is moving into higher gear as more countries, especially in Asia and Latin America, soften up to barter trade with the Islamic Republic.

UAE’s overall economic recovery will boost consumption and imports of grain and feed in MY 2022/23

Morocco is facing low wheat production in marketing year 2022/23 due to drought. The Ministry of Agriculture forecasts total wheat and barley production at 3.2 million metric tons, about 62 percent down from the previous year’s crop (10.2 million metric tons).

The FAS/Seoul June 2022 Grain and Feed update covers changes to the Korean rice situation since the March 2022 Grain and Feed Annual report.

This report covers the national rice market. Rice prices are listed by variety and by state, with historical trend data for select varieties. Also included is a market trend analysis.

This full text file contains reports, issued weekly during the growing season (April to November), which lists planting, fruiting, and harvesting progress and overall condition of selected crops in major producing states.

Wheat production for marketing year (MY) 2022/23 is forecast slightly lower than the USDA official forecast based on updated industry and Mexican government data that reflect adverse weather conditions.

Rice export prices decreased 3-5 percent due to the weakening of the Thai baht.

Executive Order #171, Series of 2022, modifies market access for MFN tariffs on corn and rice through December 31, 2021, necessitating changes to Post’s corn and wheat balance sheets but not rice. The new rice tariff effectively only provides a safeguard to ensure the Philippines will have access to alternative foreign supplies should ASEAN members limit exports

After more than 100 days of the Russian-Ukrainian war, wheat prices have surged almost 60 percent globally, hitting their highest levels in 14 years.

On June 15, Kazakhstan extended wheat and wheat flour export restrictions until September 30. The restrictions were originally approved on April 14 under the Ministry of Agriculture's decree “Regarding export of certain goods from the territory of the Republic of Kazakhstan” and set to expire on June 15, 2022.

Rice farmers in eastern Arkansas heading out to check fields Wednesday morning instead found something with a bit more bite.

The journey to develop alternative proteins to sustainably feed the world’s ballooning population is a key factor in F&B research, investment, food technology and discovery.

After years of depressed commodity prices, this could be the year for Arkansas grain growers to cash in — if just a few things go their way.

Inflation and increased food costs are driving up the price tag for the 2023 Farm Bill above $1 trillion, according to American Farm Bureau Economist Shelby Myers.

Soybeans are rated 77% good to excellent, with 51% of the crop blooming.  Just 2% of the crop is left to be planted.  Cotton is rated 78% good to excellent with 51% squaring and 2% setting bolls.

After years of depressed commodity prices, this could be the year for Arkansas grain growers to cash in — if just a few things go their way.

Chris Scheuring’s farm, like many others in California, has been forced to adapt to the drought.

High temperatures across Northern California are making it trickier to store and preserve fruits and vegetables.

A research project is trialing new telecommunication tools to help New South Wales rice growers become more efficient with their water usage and potentially save labor costs.

September rice futures traded mostly lower this week, following a broader ag market selloff.  Cotton and grains offered no support to rice futures and the U.S. dollar is trading near 20-year highs.

UN Secretary General Antonio Guterres has warned of an "unprecedented global hunger crisis," saying next year could be worse.

The recent rise in food prices is also raising concerns about rice prices. Experts said rice production is still adequate, but prices might need to be monitored next, CNBC reported on Sunday.

The World Bank slashed its growth estimate for the global economy to 2.9 percent, 1.2 percentage points below the January forecast, due to the Russian invasion of Ukraine which has caused a severe downturn.

Consumers around the world are facing high food prices, but by restricting food exports, governments of major food exporting nations will only exacerbate the issue, Sonia Akter writes.

The scale of the global food crisis that has followed Russia’s invasion of Ukraine cannot be underestimated.

According to the Food and Agriculture Organization, of the 4% of the 250,000 to 300,000 known edible plant species, only 150-200 are used by humans. Just three — rice, maize and wheat — contribute nearly 60% of the calories and proteins obtained by humans from plants. This leads to severe food security issues.

Global volume consumption of red yeast rice is 18,370 metric tons, and is expected to surge to 40,469 metric tons by the end of 2032.

Governments around the world are taking steps to safeguard food supplies as inflation soars due to supply-chain disruptions caused by the COVID-19 pandemic and the war in Ukraine.

Vegetable oil and maize prices slightly decrease after recent surge, while rice, meat, dairy and suger prices slightly increase and global trade prospects dim

Every day, millions of sailors, truck drivers, longshoremen, warehouse workers and delivery drivers keep mountains of goods moving into stores and homes to meet consumers’ increasing expectations of convenience. But this complex movement of goods underpinning the global economy is far more vulnerable than many imagined.

An increasingly stretched OPEC and its allies on June 30 reaffirmed plans for a nominal 648,000 b/d production rise in August, as questions continued to swirl about how much crude oil the group will be able and willing to pump in the months ahead.

Chicago soybean futures have bounced, but corn has remained stagnant following last week’s selloff in both commodities, among the largest in years.

Brazil, among the largest wheat importers in the world, –mainly from Mercosur associates–, is breaking consecutive export records in 2022.

Greece is willing to provide ships to help export grain from Ukraine’s Black Sea ports that have been blocked by Russia, NATO Secretary-General Jens Stoltenberg said on Thursday.

Saudi Arabia and the UAE have starring roles to play in the oil market this summer, as the only producers in the world holding any significant spare output capacity.

U.S. crude stocks fell in the latest week but fuel inventories rose, the government said on Wednesday, as refiners picked up activity, while industry production hit its highest in more than two years in response to tight worldwide supply and high prices.

ICE Brent gave up all of its early session gains yesterday to settle almost 1.5% lower. This follows the EIA report, which showed relatively sluggish gasoline demand.

Chicago edged down on Thursday, weighed by increased chances of rain in growing areas in the United States.

The Russia-focused Sovecon agriculture consultancy said it had raised its forecast for Russia’s July-June wheat exports by 300,000 tonnes to a new record high of 42.6 million tonnes.

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