China reaches soymeal import deal with Argentina as trade talks near

ARGENTINA – The world’s top soymeal producer by volume, Argentina has reached an agreement to export the product to China, marking the first soymeal shipment that Argentina has made to China. According to a report by Reuters, Gustavo Idigoras, president of Argentina’s CIARA-CEC chamber of grain exporting companies, however, noted that the deal is still subject to a two-step process of plant authorizations and then registrations. The deal, which follows decades of talks, is arguably a major breakthrough amid the US-China trade war that has hit US growers. The deal…

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International Grain Council raises global grain production forecast by 11m tonnes

USA – The International Grains Council (IGC) has revised its forecast for total world grain production in 2019-20 upwards by 11 million tonnes. In its most recent monthly Grain Market Review (GMR) the IGC said it now forecasts global grain production for 2019-20 at 2.159 billion tonnes due to a rise in projected US corm production, reports World Grain. This represents a 0.5% increase from 2.148 billion tonnes in its July forecast and 17 million tonnes higher than the Council’s 2017-18 estimated total. According to the Grain Market Review, the…

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Zimbabwe’s agricultural programme gets US$7.74m boost to increase productivity

ZIMBABWE – The government of Zimbabwe has earmarked US$7.74 million (ZW$2.8bn) for Command Agriculture aimed at boostimg maize and soybeans production during the 2019/20 summer cropping season. Command Agriculture is a government initiated programme that seeks to unlock smallholder farmers challenges by stimulating local production of seeds, fertilizer and other inputs with an aim of increasing agricultural productivity. The Finance and Economic Development Minister Mthuli Ncube said the programme will extend the facility by another year targeting to produce 210 000 hectares of maize and 30 000 hectares of soyabeans…

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Nigeria’s Tamaidukka Group to invest US$25m in agro allied industrial park

NIGERIA – Tamaidukka Group, a Nigerian diversified investment company with intrests in agro-industry and real estate development will be investing US$25 million in developing an agro-based industrial park in Kaduna State. The company said that the industrial park will house a soya bean and cotton seeds processing plant for the production of vegetable oils for domestic and industrial use with much focus on export. Speaking at the formal hand over of the site for the park in Kaduna, the chairman of the company, Alhaji Ahmed Suleiman Leda, noted that the…

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Surface Wilmar to support soya bean out grower schemes in Zimbabwe

ZIMBABWE – Surface Wilmar, one of Zimbabwe’s leading edible oil manufacturers, has said that it has the capacity to finance local soya bean out-grower schemes to bolster production. Wilmar seeks to increase soybean production capacity in a bid to cut reliance on imports for crude oil. Zimbabwe produces less than 50 000 tonnes of soya beans a year against a demand estimated at between 400 000 to 600 000 tonnes. In 2017, the country produced 130 000 metric tonnes of seed-cotton. Zimbabwe currently requires an estimated US$250 million for importation…

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Egypt soybean imports to grow supported by increase in local processing capacity

EGYPT – Egypt’s soybean imports have been projected to further increase by 14% in 2019-20 as local processing capacity continues to surge, a report by United States Department of Agriculture (USDA) reveals. The recent report by USDA projects soybean imports at 4 million tonnes in 2019-20, up from 3.5 million tonnes in 2018-19 with majority of the imports to be sourced from the United States. According to the report, Egypt imported some 1.2 million tonnes of soybeans between October 2018 and February 2019, 99% of which originated from the United…

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Zimbabwean association calls for increased soybean production to curb imports

ZIMBABWE – The Oil Expressers Association of Zimbabwe (OEAZ), an oil producer’s lobby group, has called for increase output of soybean as an intervention to cut reliance on imports. A report by NewsDay reveals that Zimbabwe’s soyabean local demand stands at 400 000 metric tonnes annually against its current production capacity of around 60 000 metric tonnes. According to OEAZ chairman, Busisa Moyo, its members require a total of US$225.5 million annually to import raw materials such as soyabeans, crude oil, palm fatty acid, chemicals and consumables. Moyo has hence…

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US exports of feed grains set new record at 120 MMT led by corn

USA – The United States exports of feed grains and co-products for the 2017/2018 marketing year reached 120 million metric tonnes led by higher corn shipments, setting a new record for the second year in a row. According to the U.S. Grains Council, the year’s exports increased 6% (6.5 million tons) above last year’s record, representing a third of US production. US corn exports increased 6% to 61.8 million tons, Mexico leading the rank with 14% increase to reach a record high of 15.7 million tons. The report revealed that…

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Germany set to become a net grain importer on drought related losses

GERMANY – Germany is expected to increase imports of soybeans, soybean meal and become a net importer on production losses related to drought, ‘a weather incident of national extent’, said a report from the U.S. Department of Agriculture’s Global Agricultural Information Network (GAIN). As a result of drought and hot weather, Germany’s Agriculture Ministry in August said it expects the 2018 grain harvests to decline by 15.8% while its winter rapeseed harvest, the main oilseed for edible oil and animal feed production, was forecast to fall 14.5% to 3.6 million…

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Bunge to close soybean crushing facility in Argentina with 60 possible layoffs

USA – The US grains merchant Bunge Limited is considering the closure of a soybean crushing plant in Buenos Aires Province putting about 60 jobs at risk, reported Reuters citing information from union of employees of soy crushing plants in Argentina. The union of employees representing Argentina’s soy crushing plants said that Bunge had informed its workers on the decision earlier in the week though they are yet to be sent home officially. In its fourth quarter results, Bunge said it was changing its portfolio to focus on core areas…

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