Firms want higher salt imports

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Enterprises have called for an increase in salt imports in order to maintain production output. However, the Ministry of Industry and Trade, after considering a Ministry of Agriculture and Rural Development proposal, has decided to halt salt imports temporarily in order to adjust domestic salt prices. Halting salt imports is expected to encourage enterprises to…


US containerized exports rise on strong Asian agricultural products demand

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NEW JERSEY, USA (Commodity Online): Led by strong demand for agricultural products in Asia, U.S. containerized exports expanded 6.7 percent in the third quarter, according to figures released today by The Journal of Commerce/PIERS, leaving export volume from the United States up 8.3 percent through the first nine months of 2011. Westbound trans-Pacific trade for…


India rabi wheat sowing begins, acreage 77 lakh ha

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NEW DELHI (Commodity Online): India’s Wheat sowing has been shown in 76.67 lakh hectare against 85.92 lakh hectare last year on this date, according to preliminary reports of the government. Area coverage of wheat compared to last year is less due to mainly late harvesting of kharif Paddy crop. However, sowing of wheat is in…


India rice procurement crosses 10 mn tonnes in Kharif

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NEW DELHI (Commodity Online): Rice procurement in the Kharif Marketing season 2011-12 (October-September) has crossed the 10 million mark. According to statistics 101,04,088 million tonnes (Mts). rice has been procured by November 17, 2011 by the various government agencies during the current kharif season. Punjab has led the States by procuring 76,04,255 Mts. followed by…


Banana-hit Dole takes job cuts above 4,000

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Dole Foods revealed a further round of cost cuts, which will take above 4,000 job losses since summer 2010, as it revealed worse-than-expected, blamed on soft banana and iceberg lettuce prices. Shares in the fruit-and-vegetables group tumbled 10% to a one-year low in early deals. The fruit and vegetables giant said that about 550 further…


Cotton market holds it breath as futures fall anew

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Cotton investors prepared for a key price battle as futures tumbled again, weighed by concerns that the Chinese buying spree on US cotton may be over – and that there is little demand elsewhere. Cotton for December dropped 3.4% to 96.09 cent a pound in New York on Friday, adding to 4% losses in the…


Colombia cuts coffee hopes as La Nina fears mount

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Coffee prices bucked a negative trend in farm commodities after coffee producers in Colombia, downgraded their output estimate for the third time in four months, amid growing fears for the revived La Nina weather pattern. Genaro Munoz, head of Colombia’s coffee growers’ federation, said that the coffee crop in the world’s second-ranked producer of arabica…


Grain prices in ‘meltdown’ on euro, export fears

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Grain prices went into "meltdown" after weak US export data crystallised pessimism over the country’s trade performance, and worsened sentiment already soured by heightened eurozone concerns. Corn prices plunged 4% in Chicago, where wheat futures tumbled below $6 a bushel to a four-month low. Oat futures tumbled the daily limit at one point to their…


Australian wheat harvest bigger than was thought

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Australia’s wheat harvest last year broke the record far more easily than had been thought, lifted by 28% by "the benefits of improved seasonal conditions and increased rainfall". The Australian Bureau of Statistics has pegged the 2010-11 domestic harvest at 27.9m tonnes, well ahead of existing forecasts, besides the previous record of 26.1m tonnes. Australia’s…


Sugar prices may ‘spike’ despite better supplies

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Sugar prices remain vulnerable to "spikes" despite improved hopes for a production surplus, given the extent to which stocks have fallen – and with 2012-13 unlikely to usher in freer supplies. The International Sugar Organization, in quarterly briefing, raised by 250,000 tonnes to 4.46m tonnes its forecast for the output surplus in 2011-12. The revision…


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