Moscow | Reuters –– Russia approved the launch of a new wheat export tax from July 1, which traders say could threaten profits on advance contracts for the new crop if the rouble weakens in coming months. Russia’s government said Friday that the new tax was intended to stop exports surging if the rouble drops […] Read more
New Russian wheat tax puts exporters, traders on edge
Ukrainian N plants to shut, government pressure cited
Kiev | Reuters –– A company controlled by Ukrainian tycoon Dmytro Firtash said Thursday it was closing down its last two nitrogen fertilizer plants in Ukraine because of “unprecedented pressure” from the government which had deprived the plants of gas. A statement by his Group DF said the closure of the Cherkassky Azot and Rivneazot […] Read more
Russian ag ministry proposes new wheat export duty formula
Donskoy | Reuters –– Russia’s agriculture ministry said on Tuesday it had finalized the methodology for the calculation of a wheat export duty that will be introduced from July 1. It has proposed exporters pay a duty of one rouble per tonne on wheat priced up to 11,000 roubles (C$268) per tonne on a free-on-board […] Read more
Russian wheat prices follow global benchmarks higher
Tikhoretsk | Reuters — Russian wheat export prices rose last week following an increase in global benchmarks and concerns over dry and hot weather in the European part of Russia, analysts said. Russia, one of the world’s big wheat exporters, competes with other global suppliers, including France, where Western European wheat prices hit the highest […] Read more
Meatpacker JBS closes plant, lays off 650 workers in Brazil
Sao Paulo | Reuters — The world’s largest meatpacker JBS SA laid off 650 workers and closed a plant in Brazil’s Mato Grosso state due to the lack of cattle ready for slaughter, a state labour official and the company said on Wednesday. JBS CEO Wesley Batista said last week that the first three months […] Read more
U.S. bill to repeal COOL advances
Washington | Reuters — U.S. legislation to repeal country-of-origin meat labelling (COOL) laws, which the World Trade Organization found discriminate against Mexico and Canada, passed a congressional committee on Wednesday and moved one step closer to becoming law. The House of Representatives’ agriculture committee approved the bill on a vote of 38-6, clearing the way […] Read more
Russia may allow food imports from three EU states
Moscow | Reuters –– Russia may allow around 20 firms from Hungary, Cyprus and Greece to return to its market after it orders the lifting of an embargo on food imports from the European Union, Interfax news agency quoted a senior official as saying on Tuesday. Russia banned foods from the 28-nation EU last year […] Read more
China lifts three-year embargo on Brazil beef imports
Brasilia | Reuters — China has ended an embargo on Brazilian beef imports, Brazil’s agriculture ministry said on Tuesday, lifting a three-year old ban and opening the door to half a billion dollars of new sales. Eight Brazilian beef processing plants and one poultry plant were approved to ship to China, the ministry said in […] Read more
U.S. lawmaker sees early June vote to repeal COOL
Washington | Reuters –– U.S. House of Representatives agriculture committee chairman Mike Conaway said on Tuesday he expects an early June vote on legislation to repeal U.S. meat labeling laws, to avoid costly retaliation from Canada and Mexico. Canada and Mexico began preparing retaliatory steps against U.S. goods on Monday, after a World Trade Organization […] Read more
U.S. loses WTO appeal in meat labeling dispute: source
Reuters — The United States has lost its appeal against a World Trade Organization ruling ordering it to bring its meat labeling laws into line with global trade rules, according to a government official familiar with the dispute. In 2011, Canada and Mexico won a WTO ruling that said the U.S. country-of-origin labeling (COOL) rules […] Read more
Canadian Cattlemen Presents: Depth of Field
