The UN Food and Agriculture Organization has warned that the current financial crisis will affect agricultural sectors in many countries negatively, including those in the developing world. World cereal production is expected to hit a new record this year as high prices boosted plantings under generally favorable weather conditions, FAO said today in the latest issue of its “Food Outlook”, a bi-annual commodity publication. World cereal production is forecast to be large enough to meet... ...Read more »
A new, brighter, deep-yellow pasta that meets Aussie tastes and cooking style will be the culinary end product of an improved durum wheat variety bred by the NSW Department of Primary Industries (DPI) to be released to growers next year, the NSW Minister for Primary Industries, Ian Macdonald, has advised.”The new variety has been given the name Caparoi, an appropriate name derived from the Italian word capitano which means ‘leader’,” Minister Macdonald said. “I expect Caparoi... ...Read more »
GrainCorp has announced that it has entered into a strategic marketing alliance with the largest cooperative grain marketer in the United States, CHS Inc. in order to reach new markets. The new marketing alliance will focus on the bulk export of durum from Australia and will commence immediately. CHS Inc. is a leading global durum marketer, with strong linkages to millers and more than half a century of durum milling expertise. The GrainCorp - CHS Inc. alliance integrates the Australian durum industry... ...Read more »
The Rudd Government has passed legislation to overhaul the bulk wheat export marketing system.The reform honours an election commitment, giving Australian wheat growers the right to choose who exports their produce for the first time in 60 years. The House of Representatives today accepted the amended Bill passed by the Senate last week, clearing the way for the new bulk wheat export marketing system to be in place by 1 July 2008. The reformed system is designed to provide new opportunities for growers... ...Read more »
Predictions of a record Australian wheat crop have been hit by drought in the grain belt of NSW. Despite this, record planting levels are set to become a reality with strong harvests dependant upon some wet weather in the coming months. The NSW Government have released their latest drought figures, which indicate 48.4% of the state is now in drought as opposed to 42.9% in March. The NSW DPI has now predicted planting of about 3.4 hectares of wheat with those figures reliant on “good... ...Read more »
The International Grains Council and Rabobank have indicated that the world’s production of wheat is likely to increase by about 40 tonnes on last year’s figure. With wheat prices reaching record highs in February the prospect of a better season is welcome news, especially as global stocks remain at historically low levels. The price of wheat did reach $13 a bushel in February but is now back to $8 a bushel, which is equivalent to its’ price in November last year. Due... ...Read more »
A combination of record low global inventory levels, weather induced supply side shocks, surging outside investor influence, record oil prices and structural changes in demand for grains and oilseeds have created an explosive environment for prices, a recently-released industry report from the world’s leading food and agribusiness bank, Rabobank, says. The Rabobank Global Focus report titled Grains & oilseeds – is it a new era for prices?, says that while it is still early days, the outlook... ...Read more »