State-owned Swedish mining company LKAB said it has found what it believes to be Europe’s largest known deposit of rare earth elements. Located in Kiruna, in the far north of Sweden, the company said Thursday that the store contained more than one million metric tons of rare earth oxides. These...
Asian feed corn buyers enter 2023 following high market volatility and record high prices in 2022, with demand in the new year seen facing some resistance as Asia grapples with inflation and sluggish economic growth. The global grains industry suffered from a fallout of the Russia-Ukraine war in...
Palm oil production in the world’s largest producers, Indonesia and Malaysia, will remain squeezed this year amid anticipation of rising demand from key market China, industry officials said in a seminar. The two Southeast Asian nations account for around 85% of the world’s exports, but output have...
The U.S. Department of Agriculture’s January data dump reverted to its often-unpredictable nature on Thursday as analysts missed the mark on several key numbers, unlike their unusually strong year-ago performance. However, most of the surprising figures, many of which were smaller-than-expected and...
The deal on the export of grain and fertilizers from Black Sea ports continues to make a difference, as indicated in the lowering of global food prices, a senior United Nations official said. With the Russia-Ukraine conflict approaching its one-year anniversary, there is “no end in sight to the...
https://www.hellenicshippingnews.com/black-sea-grain-deal-keeps-making-a-difference-un-official/
Fitch Solutions Country Risk and Industry Research considers China to be one of the primary risk drivers for agricultural commodity prices in 2023. In a note on Thursday (Jan 12), the firm said Chinese food imports surged during the Covid-19 pandemic, compounding global supply-side disruptions...
The US Department of Agriculture has raised its forecast for global wheat output in marketing year 2022-23 (July-June) to 781.31 million mt from 780.59 million mt previously, the World Agricultural Supply and Demand Estimates report showed Jan. 12. The increase in its global forecast was due to...
Ukrainian farms had harvested almost 51 million tonnes of grain from 94% of the expected area as of Jan. 12, the agriculture ministry said on Friday. The ministry’s statement said that farmers had harvested 10.9 million hectares of crops, with the grain yield averaging 4.7 tonnes per hectare. It...
India will seek an easing of European Union steel import quotas and tarrifs in talks for a new trade deal as Indian steelmakers struggle to sell the alloy in one of world’s big markets, a senior government official said. Last year, India and the EU relaunched negotiations for a free trade agreement...
https://www.hellenicshippingnews.com/india-to-seek-easing-of-eu-steel-quotas-tarrifs-in-trade-talks/
The U.S. corn and soybean harvests in 2022 were smaller than previously estimated as crops struggled late in their development after a promising start to the growing season, the U.S. government said on Thursday. Dry conditions also caused the U.S. Agriculture Department to cut its forecasts for...
https://www.hellenicshippingnews.com/u-s-reduces-corn-soybean-harvest-views/