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World News
USDA raises end-stock forecast for Soya
The improving US soybean crop, coupled with stronger production in Argentina, will help boost world ending stocks of soybeans for ‘02-03 to 25.35m tonnes, up from the 22.90m tonnes forecast last month, the US Department of Agriculture said.
(Courtesy: The Economic Times, September 13)
Australian wheat crop seen lower
The US Agriculture Department revised downward its forecast of Australia's wheat production in ‘02-03 to 15m tonnes, a 5m tonne cut from last month's forecasts, but still more than official Australian projections as drought ravaged the country. Earlier this week, the Australian government put ‘02-03 wheat production at 13.45m tonnes, the smallest since ‘94-95. Exports, it said would total 13m tonnes.
(Courtesy: The Economic Times, September 13)
China sugar crop
China's official China Sugar Association said the coming ‘02-03 harvest should produce about nine million tonnes of white sugar and domestic consumption is estimated at 8.8 to nine million tonnes. The coming harvest, which the association said was another bumper crop, was likely to equal China's largest since records have been kept. China produced a total of 8.5m tonnes of white sugar in the last ‘01-02 season (Oct-April), largely from sugarcane.
(Courtesy: The Economic Times, September 4)
Cotton Gold to extend quality seal to India
The US-based Cotton Gold Alliance would soon be extending its ‘Seal of Cotton’ to the Indian markets. It is for the first time that the Alliance will have a tie-up outside the US. The Seal of Cotton will help identify and promote 100% cotton products. It will ensure a quality, said executive director of the US-based Cotton Council International.
(Courtesy: The Economic Times, September 4)
Drought puts rich Asian wheat market up for grabs
Simultaneous drought in Australia, the US and Canada, major wheat suppliers to Asia- has made them cut exports and push up prices. This year Pakistan and India are taking over Australia, a trader in Hanoi told Reuters of Vietnam's wheat buying plans. This is just one small part of an unprecedented Asia-wide swing to import wheat, often for the first time, from countries such as France, Poland, Ukraine, Argentina, India and Pakistan.
(Courtesy: The Economic Times, September, 2)
