Ivory Coast to keep cocoa output in check under new price plan

Ivory Coast’s cocoa regulator said it will seek to maintain output of the beans at current levels even as the country and neighboring Ghana plan to boost farmers’ income by raising prices. The world’s two biggest cocoa producers are looking to jointly introduce a premium of $400 a ton, the so-called living-income differential, in an […]

Floods upset farm produce distribution, uptick seen in tomato, rice, beans prices

Floods

Continuous flooding in Nigeria’s Middle Belt has been a source of concern to players in the logistics chain of the agricultural business, upsetting distribution of farm products and causing an uptick in food price inflation, a Financial Derivatives Company report has said. The situation has stimulated price inflation in some relatively inelastic commodities such as […]

Cocoa price regulation: Ghana, Ivory Coast start next season

Cocoa

Ghana and Ivory Coast have acceded to coordinate the announcement of bean prices with the opening of cocoa season in their bid to harmonise operations and boost producer profits margins, Cocobod, an industry regulator said on Wednesday. The two countries, which account for more than 40 percent of global cocoa supply, will jointly conduct a […]

China trims soybean import estimate by 10% as trade hiccups lingers

Soybean

China trimmed its soybean import estimate for 2018/19 by 10 percent on Wednesday as farmers reduce their application of the bean in animal feed on lingering trade hiccups between the country and the United States. The country equally raised its 2018/19 domestic soybean output forecast to 15.83 million tonnes from 15.37 million tonnes in August. […]

Nigeria to start export of dry beans, peas

Beans

Nigeria will begin the production of dry beans and peas, also called pulses, for export to India next year, Audu Ogbeh, the minister of Agriculture and Rural Development said on Wednesday at a conference in Abuja. The minister said more efforts were being harnessed towards encouraging organic agriculture for the production of the produces, noting […]

Nigeria tomato processing plants require 3m tonnes of quality fruits to feed local demand

Tomato Processing

Tomato processing plants would need up to three million metric tonnes of quality processing grade tomato fruits domestically to feed Nigeria’s local demand for tomato puree sufficiently, says Hussaini Ibrahim, the director-general of the Raw Material Research and Development Council (RMRDC). He said that access to improved seeds had become imperative for the government’s drive […]

Soybeans, corn futures see above 1% increase as U.S. crop condition slump

Soybean

Chicago soybean and corn futures saw an increase of more than one percent each on Tuesday supported by a slight decline in the condition of both crops which have benefited from near-perfect weather across the U.S. Midwest. Wheat edged higher, recouping last session’s deep losses as the market was supported by lower production in the […]