Palm oil has put in an impressive performance in second half 2019 to date in terms of the extent and durability of its price recovery.
Although China remains the top canned peach supplier to the US – although trade has been significantly hit by recent tariff increases – overall volumes of Chinese origin are significantly down by 27.8%. Other traditional suppliers such as Greece, Chile, South Africa, Thailand or Spain are filling the gap.
A more bullish constellation has aligned to help sustain a firmer tone in sugar futures.
European broiler prices have fallen again over the past week, taking the overall EU average price down to the lowest level seen this year.
Price Graphing & Daily Prices
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Ghana and Ivory Coast’s proposal for adding a Living Income Differential (LID) premium to sales of cocoa beans looks set to be approved and become law by early next year.
The US pistachio industry is going well and has a bright future ahead, Judy Hirigoyen, vice president of global marketing at American Pistachio Growers (APG) declared at the US Nuts & Dried Fruits Conference at the US Embassy in London on November 19.
Grains & Softs
Canola futures shaded early this week amid expectations that Statistics Canada would raise its crop estimate from 19.4 mln to closer to 20 mln tonnes.
Latest From Grains & Feed, Sugar, Cocoa & Coffee
Soybean futures ended higher Friday, lifted by renewed trade optimism as China moved to exempt some US soybean imports from higher tariffs. Soybean meal futures ended lower, while soybean oil futures settled sharply higher. January soybean futures were 5 1/4 cents higher at USD8.89 1/2.
Wheat futures were mostly lower on Friday on increased Canadian production.
Corn futures closed steady to mixed on Friday as export business failed to provide a lift.
Processed Food & Ingredients
Vietnam’s coconut processor Betrimex has announced that it will invest around USD50 million to expand its coconut milk and water and dehydrated product manufacturing capacity in 2022, to increase sales in China.
Latest From Canned & Tomato Products, Dried Fruit & Nuts, Frozen Foods, Fresh Fruit & Vegetables, Beverages & Spices & Exotics
The November-long trend of rising orange prices may be constrained in December as consumer demand for fruits such as stone fruits are usually consumed during the holiday season.
According to senator Angus King, Maine’s wild blueberry industry has been hard hit by the Chinese decision to increase tariff on a list of US agricultural products including wild blueberries which are widely used as frozen for the processed industry.
The UK might have to face a carrot shortage in spring as more than half of the carrot-growing areas have been affected by flooding.
Dairy & Meat
Weighing in on plans to create a “smarter,” more digital and traceable food safety system, US egg producers are urging the US Food and Drug Administration (FDA) to adopt a few solutions that don’t necessarily have to do with new technology.
Latest From Dairy & Meat & Livestock
NZX futures saw significant declines in butterfat this week, as New Zealand’s milk collections reach peak period.
Total Brazilian pork exports reached 66,400 tonnes in November, up by 13.2% over the same period last year, the Brazilian Animal Protein Association (ABPA) reported to the market.
Japan’s passage of an initial US-Japan trade agreement will bring major benefits to the US dairy industry, with more progress on market access and limits for geographical indications (GIs) eyed for a Phase Two agreement, two US dairy groups stated.
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