For Prairie farmers in need of spring fertilizers, ongoing war in the Middle East will have the biggest impact on urea and sulphur prices, an Argus market analyst says.
Tag Archives Saudi Arabia
Iran war to disrupt urea and sulphur supplies
The Middle East accounts for 50 per cent of global sulphur exports and 34 per cent of urea shipments
Extent of Saudi oil production cut unclear
Reported tensions within OPEC limit price gains
MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably
Saudi Arabia highly dependent on grain imports
Alfalfa more profitable for domestic growers
MarketsFarm — While Saudi Arabia is a giant among the oil-producing countries of the world, the desert kingdom does produce small amounts of grain. With a population that’s about one million less than Canada’s, Saudi Arabia is extremely dependent on importing its grain from overseas. The U.S. Department of Agriculture’s (USDA) attaché in Riyadh explained
Brazil’s BRF, Saudi fund set up poultry joint venture
Brazilian chicken and pork processor BRF SA signed a memorandum of understanding with Saudi Arabia’s sovereign fund to create a joint venture to make poultry products in the Middle Eastern country, it said Jan. 13. BRF said in a securities filing it will hold a 70 per cent stake in the joint venture, while Saudi
Saudi Arabia bans beef imports from five Brazilian meat packers
Saudi Arabia has suspended beef imports from five Brazilian meat packers after the South American country detected two atypical cases of mad cow disease earlier this month, Valor Economico newspaper reported, citing Brazil’s Agriculture Ministry. According to Valor, the five unnamed meat packers are located in the state of Minas Gerais, where one of the
Tax, competition expected to prolong Russian wheat export season
Tax complicates forward sales for exporters
Moscow | Reuters — Exports of Russian wheat will stretch well into the second half of the season as Moscow’s export tax and tough competition with Ukraine and Romania slow sales until the end of 2021, traders and analysts said. Russia, the world’s largest exporter of wheat, generally sells most of its crop during the
Saudi Arabia completes first phase of flour mill privatization
Dubai/London | Reuters — Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatization, according to a statement by the state grain buyer and privatization centre. The long-awaited flour mills sale was one of the first privatizations the kingdom planned as part of a wide-reaching overhaul of its
USDA’s supply and demand report largely stands pat
MarketsFarm — Any changes in the latest monthly supply and demand report from the U.S. Department of Agriculture (USDA) on Tuesday were few and far in between when it came to corn, wheat and soybeans; what the markets largely expected. However, there were some small revisions to the department’s global projections. That meant USDA’s March
Oil price war spells bad news for Canada, global market
MarketsFarm — Benchmark crude oil prices plummeted 30 per cent on Monday, after a price war erupted between Saudi Arabia and Russia. While that will mean lower prices at the pumps for consumers, the price war will not bode well for the Canadian economy, according to a pair of industry experts. “We already had the
Canada’s fuel prices to rise after attack in Saudi Arabia
MarketsFarm — Following an attack on two major oil facilities in Saudi Arabia, consumers can expect a small rise in fuel prices in the days to come. The attacks on Saturday hindered the production of about 5.7 million barrels of oil per day. On Monday morning, crude oil prices were up by about 10 per
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