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…


Grain prices spike on Russia plans for export levy

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Grain prices spiked after Russia revived plans for grain export duties amid fears that its surging pace of shipments would deplete inventories. Viktor Zubkov, the Russian deputy prime minister who in June voiced proposals for a levy, said on Tuesday that the government was considering reviving the plan to prevent its grain stocks falling below…


Bumper Ukraine grain exports back on the agenda

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Ukraine’s cancellation of grain export duties has put buoyant shipments back on the agenda – provided President Viktor Yanukovych does not delay in signing off the plans. The country has enough time left in 2011-12 to rebuild its pace of exports sufficient to reach 9m tonnes of wheat and 12.5m tonnes of corn over the…


Vietnam cuts 2011 coffee export forecast to 1.12m tonne

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Vietnam, the world’s top robusta producer, has cut its annual coffee export projection for the calendar year 2011 to 1.12 million tonnes, or 18.7 million bags, from a previous forecast of 1.17 million tonnes, the agriculture ministry said. August’s export volume of 36,000 tonnes was below previous forecasts, leading to the downward adjustment for the…


Cashew nut export revenue hits US$850 million

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Vietnam exported nearly 108,000 tonnes of cashew nuts worth US$857 million in the first eight months of this year, up 25 percent in terms of value compared to the same period last year, according to the Vietnam Cashew Association (Vinacas). The Association said that in the second half of August, local cashew nut exporters faced…


Ukraine may extend contentious grain export levies

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Controversial grain export duties in Ukraine, blamed for a slump in shipments which has sparked fears over where withheld crops will be stored, may be extended until July – and even to other crops. Rather than shortening the period of the levies, which Ukraine’s farm ministry has lobbied for repeal, the tariffs may be extended…


Tea industry seeks competitive edge

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The domestic tea industry is seeking effective means to increase global competitiveness, according to the Vietnam Tea Association. “Vietnam is the fifth largest exporter of tea in the world. We export tea to 118 nations and territories, but the price of Vietnamese tea is only about 60 per cent of the world price,” said the…


Vietnam’s rice export in 2011 likely to exceed 2010′s record

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Vietnam’s rice export this year may reach over seven million tonnes, up 3.5% year on year, according to the plan of Vietnam Food Association (VFA). The Ministry of Industry and Trade confirmed that Vietnam’s rice export in 2011 is expected to exceed the record in 2010 with an export volume of over seven million tones,…


Wheat export will check further fall in domestic prices: Floor millers

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NEW DELHI: Flour millers today hailed the government’s decision to lift a four year-old ban on wheat exports, saying this would not only prevent a further decline in domestic retail prices, but would also enable the export of high protein varieties to the Middle East. Yesterday, the Empowered Group of Ministers (EGoM) on Food decided…


Vietnam can see great opportunities to export parboiling rice

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Vietnam’s parboiling rice has been exported to Eastern European countries, Africa and some Asian countries. If its plan to expand export markets goes smoothly, it may export 150,000 tons of parboiling rice this year. Truong Thanh Phong, Chair of the Vietnam Food Association (VFA), said at a recent conference that many countries have placed orders…


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