Strong rise in cane sugar levels depresses prices

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Data showing that a late-season rebound in cane sugar concentrations had beaten industry expectations added to pressure on sugar prices, which lost early gains to close down 2%. Investors had been prepared for some uptick in cane sugar levels in the closing weeks of the Brazilian crushing season after a series of sector rumours and…


India’s soaring wage bills may revive tea prices

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India’s buoyant wage and fertilizer costs, part of the inflationary picture which prompted the country to go against the grain in raising interest rates, may revive flagging tea prices, which have fallen to a two-year low. Malcolm Perkins, chairman of Camellia, the avocado-to-citrus grower, flagged "considerable concern" across the tea industry in India, the world’s…


Huge Chinese corn order confirmed, but prices ease

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Corn futures eased despite confirmation of a huge Chinese import purchase, which prompted talk that US officials may have been too gloomy in downgrading expectations for US exports of the grain. US Department of Agriculture officials said that China had purchased 900,000 tonnes of American corn, with a further 292,000 booked to an "unknown" destination,…


Fruit prices slump on big harvest, again

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To many farmers in the Mekong Delta region, the bumper fruit harvest this year just means massive losses since prices have dropped by more than a half after foreign importers stopped buying them. In Ben Tre Province’s Cho Lach District, the Mekong Delta’s fruit basket, most farmers are unhappy with their bountiful rambutan, dragon fruit,…


Skim milk powder prices weaken ahead of US sales

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Prices of skim milk powder returned to a downward trend, hitting a 2011 low, at globalDairyTrade’s latest auction in a poor harbinger for the platform’s first sales of US product in a "coming of age". The average price of skim milk powder – which rose at the last auction, on September 6, for the first…


Aussie wheat exports record will curb prices

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Market analysts predict that Australia will export a record amount of wheat in the coming year, helping to curb upward pressure in global prices. The Australian Bureau of Agricultural and Resource Economics and Sciences estimate that the country will export 20.4m tonnes in the year starting October 1, up 9.5pc from last year. Production was…


Pepper exports enjoy surging prices

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Viet Nam shipped 15,000 tonnes of pepper abroad in August, earning a turnover of US$91 million and boosting the total volume of exports to 98,000 tonnes in the first eight months of the year, announced the Ministry of Agriculture and Rural Development. The first eight months of exports marked a modest increase of 6.5 per…


Drought, heat, high demand send corn prices soaring

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Corn is a mighty hot commodity these days. Prices soared in August after weather damage across the Corn Belt led the U.S. Department of Agriculture to predict lower yields than previously expected. Some agronomists and farmers predict yields will be even lower because the heat and drought continued. All the while, demand for corn seems…


World food prices hold steady despite costlier cereals, wheat

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Abu Dhabi World food prices remained almost unchanged between July and August this year, according to the Food and Agriculture Organisation Food Price Index published yesterday. While the FAO Food Price Index (FFPI), which averaged 231 points last month — down by one point from 232 in July, it is 26 per cent higher compared…


Soybean prices face ‘sharp rally’, says Goldman

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Soybean prices face an "increasing likelihood" of a strong rally from current levels, thanks to the need to keep up with corn values and secure a place in farmers’ sowing schedules, Goldman Sachs said. The investor bank, like competitor Morgan Stanley, cut its estimate for the US corn yield, citing a hot and dry summer…


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