New Delhi | Reuters –– Indian Prime Minister Narendra Modi on Wednesday announced higher compensation and government aid for farmers who are suffering due to unseasonable rains, in an attempt to calm growing discontent among people living in the countryside. Storms have badly damaged crops in large parts of northern India and led to anger […] Read more
India’s PM boosts compensation for farmers to ease rural discontent
JBS has cash for takeover, but focused on growth, CEO says
Sao Paulo | Reuters — Brazilian meat packer JBS will have sufficient cash flow in 2015 to bankroll potential acquisitions, but for the time being plans to focus on consolidating gains from recent takeovers, CEO Wesley Batista said on Tuesday. The company in late March completed the US$1.125 billion buyout of Australian meats company Grupo […] Read more
Russia may consider lifting food ban from Greece, Hungary, Cyprus
Moscow | Reuters — The Russian government could consider removing Greece, Hungary and Cyprus from its ban on most Western food imports, Russian Agriculture Minister Nikolai Fyodorov was quoted as saying Tuesday. Russia’s ban, which should run until early August, was imposed in retaliation to Western sanctions on Russia over Moscow’s role in the Ukraine […] Read more
Russia may extend tax on wheat exports, deputy PM says
Moscow | Reuters — Russia may extend a tax on wheat exports beyond July 1, but is yet to make a final decision, Russian news agencies cited Deputy Prime Minister Arkady Dvorkovich, who is in charge of the sector, as saying on Friday. Russia has imposed the duty on wheat exports since Feb. 1 in […] Read more
California orders 25 per cent reduction in water usage
Reuters — California Governor Jerry Brown, acting in the face of a devastating multiyear drought, ordered the first statewide mandatory water restrictions on Wednesday, directing cities and communities to reduce usage by 25 per cent. The cutbacks, to be implemented by state and local water agencies, will affect consumers and businesses throughout the most populous […] Read more
ADM buys Belgian veg oils company AOR
Reuters — Archer Daniels Midland is buying AOR NV, a privately held edible oils bottler and distributor based in Antwerp, Belgium, the U.S. grain company said Monday. Chicago-based ADM did not disclose the cost of the purchase, its latest acquisition aimed at expanding into higher-margin products including food-grade oils and food ingredients. ADM bought Swiss-German […] Read more
Russia seen removing wheat tax in July if inflation slows
Moscow | Reuters — Russia, one of the world’s leading wheat exporters, will probably not extend a tax on wheat exports, imposed until June 30, if optimism over lower inflation and a large crop persists among officials, SovEcon consultancy said. Russia’s economy has been hit hard by low global oil prices and Western sanctions due […] Read more
Dreyfus’ commodities business posts higher 2014 profit
Paris | Reuters — Global trading group Louis Dreyfus Commodities reported a rise in full-year profit on Thursday as increased volumes and healthy processing margins helped offset lower market prices. Louis Dreyfus is one of the “ABCD” quartet of companies, alongside Archer Daniels Midland, Bunge and Cargill, that dominates agricultural commodity trading. The 164-year-old family-owned […] Read more
ConAgra reports better-than-expected profit
Reuters — ConAgra Foods, the maker of Slim Jim beef jerky and Chef Boyardee pasta, reported a higher-than-expected quarterly profit due to cost cuts and the company raised its full-year earnings forecast. ConAgra, like other processed food companies, has been cutting costs as consumers shift to foods that are perceived as healthier, such as organic […] Read more
U.S. hopes to wrap up Pacific trade deal, fast-track soon
Washington | Reuters –– U.S. Trade Representative Michael Froman said on Thursday a Pacific trade agreement can be wrapped up in months and urged lawmakers to quickly move ahead with key trade legislation. Froman said although there was no firm deadline to conclude the 12-nation Trans-Pacific Partnership, “we do feel that we can close this […] Read more
Canadian Cattlemen Presents: Depth of Field
