On 16th November 2018, the US Department of Agriculture and the US Food and Drug Administration announced that they had reached an agreement on a joint regulatory framework on laboratory made, cultured meat, also called in vitro meat. The Agencies have not yet revealed which framework will apply to this new way of making meat, but their respective roles have been clarified, as Katia Merten-Lentz of international law firm, Keller & Heckman, reports.
Nestlé has announced it will invest USD154 million in a new coffee factory in Veracruz, Mexico.
Dry weather in central Brazil and wet weather in southern Brazil and Argentina have affected corn and soybean crops in the region.
Canadian grain handler Richardson International has announced it will acquire the Wesson cooking oils brand from Conagra Brands, Inc.
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Dried Fruit & Nuts spotlight
IEG Vu’s look at the Dried Fruit & Nut sector includes features on raisins, peanuts, Brazil nuts, dried apple and walnuts.
Present raw material prices are high compared with earlier this season, says Dutch trader QFN Trading & Agency. “Large quantities, mostly long-term contracts, were sold at the beginning of the season. However, suppliers couldn't cover all raw materials due to the economic situation in Turkey.”
Grains & Softs
US green coffee stocks fell in November 2018 for the sixth straight month to 6.082 mln 60-kg bags, their lowest level since April 2016, Green Coffee Association (GCA) data show.
India's sugar mills produced 3.079 million tonnes of sugar, in the first half of December, up from 2.810 mln in the previous fortnight and also above 2.990 mln in the same period last year, Indian Sugar Mills Association (ISMA) data showed.
The Brazilian federal government's crop supply agency (Conab) raised its estimate of the 2018/19 coffee harvest.
The benchmark March arabica contract settled 0.70¢ down at 99.40¢/lb, after falling to a three-month low of 99.20¢.
Processed Food & Ingredients
Andalusian exports of blueberries and raspberries have risen this year by 10.3% and 7.6%, respectively, in value terms, compared with 2017, said authorities in the autonomous region of Spain.
Transshipment measures currently applying to vessels operating in Western Pacific waters are subject to review in 2019 as a guarantee of catch monitoring and fish traceability, it was agreed at the Western and Central Pacific Fisheries Commission (WCPFC) annual meeting last weekend in Honolulu.
According to the latest trade data, tomato ketchup exports declined in the first nine months of 2018, led by falling export volumes from the main exporting market, US.
The proposed increase would apple to nectars and fruit or vegetable drinks with a minimum juice content of 20%. In Poland, juices, nectars and fruit and vegetable drinks with a minimum 20% juice content is the most popular category (except for waters).
Dairy & Meat
The European Livestock and Meat Trades Union, known by its French acronym, UECBV, has backed the request by the US National Pork Producers Council to allow lactic and acetic acid rinses to be used to decontaminate pig cuts and carcasses in slaughterhouses.
Price rises for live beef cattle stalled in Brazil last week following a slowdown in demand from processors.
Another week of gains for live cattle futures, potentially putting them in an overbought situation.
Futures continue to have some underpinning in solid demand with hopes for China to return to the market.
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