GFM Network News

Irritated trade partners push back on China’s coronavirus food tests

Canada rips testing as 'unjustified trade restrictions'

Beijing/Geneva | Reuters — Major food-producing countries are growing increasingly frustrated with China’s scrutiny of imported products and are calling on it to stop aggressive testing for the coronavirus, which some say is tantamount to a trade restriction. China says it has found the virus on the packaging of products from 20 countries including German

UN bodies want to tackle drought to avert food crisis

Reuters / UN agencies want to strengthen national drought policies after warnings that climate change would increase their frequency and severity. Droughts cause more deaths and displacement than floods or earthquakes, making them the world’s most destructive natural hazard, according to the Food and Agriculture Organization, one of the groups taking part. “We must boost

Vitol plans grain market debut, hires Viterra traders

Reuters / Top oil trader Vitol is building a global grains desk and has taken advantage of Glencore’s takeover of Canadian grains giant Viterra to hire a team of its traders, trading sources said Feb. 20. Vitol, which has an annual turnover of nearly $300 billion, will vie for market share along with rival trading

EU Draft Rules Increase Watchdog Power

European regulators will gain unprecedented powers to control commodity markets through trade caps and heightened intervention if a draft EU document becomes binding, specialist lawyers said Dec. 3. Commodities are being integrated into sweeping reforms to the European Union’s markets in financial instruments directive (MiFID), which was released last month. A draft version seen by