The $30BN palm oil global industry may be affected as India sets to slam more heavy fines on imported refined palm oil products
Kenneth Afor
November 1, 2019
By Kenneth Afor India, the world’s largest buyer of palm oil is to impose more heavy fines on imported palm oil products in order to increase local production and reduce the country’s dependence of the foreign edible oil. Sources with link to Rajesh Malhotra, the county’s finance minister said that discussions are ongoing […]
Soybean tops $9 mark on USDA estimates, as other commodities soar
Kenneth AforOctober 2, 2019
By Kenneth Afor With agency reports The United States’ (U.S) major agricultural produce, soybean export to China in recent times this year met the United States Department of Agriculture (USDA) projections as the commodity got to a $9 mark for investors on Tuesday. The commodity futures are currently trading at their best levels for the two […]
Locked out of China, U.S. pork producers sniff out new buyers
Businessam StaffJuly 2, 2019
U.S. hog farmers lost hundreds of millions of dollars in export sales to China and Mexico after president Donald Trump launched his trade wars last year. But the sector has largely offset those massive losses by cobbling together new customers in smaller markets from Colombia to Vietnam, according to a Reuters analysis of data from […]
Heavy rains threaten Nigeria’s $764.7m cocoa output
Businessam StaffJune 21, 2019
Nigeria may lose $765 million of cocoa output due to the impact of heavy rainfall and poor sunshine across the nation’s cocoa-growing regions, with the likelihood of black pod disease which could hurt the crop this season. Cocoa farmers in Nigeria under the aegis of Cocoa Association of Nigeria (CAN) raised this alarm expressing concerns […]
Oyo govt partners AfDB on cassava peels utilisation
Businessam StaffMay 23, 2019
The Oyo State government has partnered with African Development Bank (AfDB), through the International Livestock Research Institute (ILRI) and the Research Program on Roots, Tubers and Banana, on how to turn cassava wastes into wealth. The partnership came to the fore at a stakeholders’ forum involving cassava farmers, livestock farmers, feed millers, and cattle rearers […]
Yam association urges FG to sign trade agreement with EU
Businessam StaffMay 16, 2019
The National Association of Yam Farmers, Processors, and Marketers on Thursday urged the federal government to sign trade agreements with European Union (EU) to secure duty-free yam export to Europe. The association in conjunction with the technical committee on Nigeria yam export programme, stated this in a communique released after a 4-day Learning/Study Tour by […]
WTO finds fault with China’s agricultural trade restrictions
Businessam StaffApril 18, 2019
China didn’t follow proper procedures when it imposed trade restrictions on agricultural imports, the World Trade Organization said on Thursday in a ruling that bolsters President Donald Trump’s dispute against Beijing. China used a flawed and opaque approach when it administered tariff-rate quotas for rice, wheat, and corn, the Geneva-based arbiter of global trade disputes […]
Soybeans nears three-week low amid subdued commodities outlook
Temitayo AyetotoAugust 13, 2018
Soybeans price neared a three-week low on Monday as it fell by about one percent on market fears over a trade war between the US and China, which could help swell supplies that are headed towards the highest points ever. The most active soybean futures on the Chicago Board Of Trade were down 0.8 percent […]
Soybeans see fresh lows as trade turf persists
Temitayo AyetotoJuly 16, 2018
Soybean prices to a near decade low last Friday as United States president, Donald Trump expressed no signs of backing down on threats to impose $200 billion worth of additional tariffs on China, the world’s largest soy importer. Soybeans prices fell to $8.26 a bushel for November delivery, the lowest level since late 2008. Prices […]
Nigeria’s largest rice producing state, Kebbi, targets price slash
Businessam StaffMarch 5, 2018
One of the largest rice producing states, Kebbi, is set to achieve less than N10,000 drop in the prices of local rice per bag. Its governor, Abubakar Bagudu, said the state’s target will be achieved through a collaboration with farmers and millers under the Federal Government’ Anchor Borrower Programme (ABP). The governor spoke during the […]