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Crops

Russian President Endorses State Grain Trader

Russia’s President Dmitry Medvedev has signed a decree endorsing the establishment of United Grain Company, a wholly state-owned grain trader, the Kremlin said March 23. The new company is being created to raise domestic grain purchases and sales and export volumes, as well as to upgrade and build elevators and port terminals, the decree published
News

World Vulnerable To More Food Price Spikes

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Nobel prize-winning economist Paul Krugman is calling for better co-ordinated aid to cope with runaway food prices, warning the world was vulnerable to a repeat of the 2008 agricultural market spike. Speaking at a seminar, Krugman said the reasons for last year’s food price rise had now been masked by the economic and financial downturn,
Beef cattle, Country Crossroads, Livestock

Commodities Down But Food Prices Lag

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“It’s not likely we’re going to be reducing prices in the near term.” – DOUGLAS CONANT, CAMPBELL CEO Commodity costs may be off their record highs and consumers may be struggling, but that doesn’t mean food manufacturers are about to slash prices. Many companies such as Campbell Soup Co. and Hormel Foods Corp. are still
News

Groups Discuss World Grain Reserve

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Setting up a world grain reserve is a realistic option that would reduce the risk of food shortages and shield farmers from big price shocks, a senior official with the U. S. National Farmers Union said March 19. The proposal to create global cereal stocks topped the agenda of a meeting of farmers’ unions from
News

Recession Compounds World Food Crisis

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The global economic downturn has compounded the food crisis, pushing more people over the brink of hunger and threatening stability around the world, the head of the United Nations’ food relief agency said March 3. Food supplies are tight and expensive, and more people in poor countries are unable to afford what they need because
News

Rural U. S. Recession Deepening

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A deepening U. S. recession is taking root in rural America, spilling across a sector that has largely lagged the suffering seen on Wall Street, according to an expert with the Federal Reserve Bank of Kansas City. A drop in commodities prices and slowdown in the farm sector in the third quarter of 2008 expanded
Cereals, News

Australia Grain Pipeline Needs Investment

“East coast grain exports are moving at absolutely a snail’s pace and exports generally across the industry for wheat are a lot lower than they should be.” – MI KE CHASELING Australia’s grain supply pipeline needs significant investment to overcome problems exporters face in getting grain to customers, an industry representative said March 3. Mike
News, Poultry

Pilgrim’s Pride Eyes 2009 Bankruptcy Exit

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U. S. chicken producer Pilgrim’s Pride Corp. has idled plants and is streamlining operations in hopes of exiting from bankruptcy protection by the end of 2009, CEO Don Jackson told Reuters on Feb. 27. The company filed for bankruptcy protection in December after struggling for nearly a year with high feed costs and low meat
News

Obama Pledges To Lower Farm Subsidies

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President Barack Obama’s pledge to cut subsidies to big U. S. farm businesses falls short of the cuts needed to revive mor ibund world trade talks, proponents of an expanded global trade agreement said Feb. 25. “Anything that would reduce payments to farmers in the U. S. would be looked on favour-ably by the rest
News

Food Price Spike Tests Trade Faith

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The recent shift toward rising food prices has shaken the confidence of developing countries in counting on trade to feed their hungry, and sparked a move toward protectionism, an OECD official said on Feb. 26. “The last 20 years, the movement was toward opening markets, and trade liberalization, and less government intervention in agricultural markets.

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