Moscow | Reuters — An entrepreneur has found a way to supply Italian parmesan, Dutch Gouda and British Cheddar to cheese connoisseurs in Russia, sidestepping a ban on importing European food that the Kremlin imposed in the fallout from the conflict in Ukraine. Russia’s government banned wholesale imports of fresh food products from the European […] Read more
Russian cheese lovers find way around import ban
ICE weekly outlook: Canola ebbs, flows in wide range
CNS Canada –– ICE Futures Canada canola contracts have moved steadily higher over the past month, but the market remains rangebound overall. “There are underlying supportive influences for canola, but it still comes down to the bigger trends in vegetable oils and oilseeds competing internationally,” said Mike Jubinville of ProFarmer Canada, adding that “there’s a […] Read more
Monsanto cools on large-scale M+A outlook
Chicago | Reuters –– Monsanto on Wednesday effectively pulled itself out of the mergers-and-acquisitions flurry in the seeds and agrochemicals industry, nearly a year after making a bid for rival Syngenta. The St. Louis-based company, which also reported a drop in second-quarter earnings, now sees its best dealmaking opportunities in smaller acquisitions, licensing deals and […] Read more
Vale, Yara deny talks over fertilizer unit stake
Brasilia | Reuters — Vale SA denied a report on Wednesday that it was negotiating a sale of fertilizer assets to Norway’s Yara International as the Brazilian miner seeks to raise cash following its biggest quarterly loss in decades. Valor Economico, a Brazilian business newspaper, reported Vale could sell a minority stake in its fertilizer […] Read more
Constellation considering Canadian wine IPO
Reuters — Constellation Brands said on Wednesday it was considering taking a part of its Canadian wine business public and reported better-than-expected quarterly net sales, helped by strong demand for its premium Corona and Modelo beers. Shares of the New York-based wine, beer and spirits company, which forecast full-year profit largely above estimates, rose as […] Read more
China’s farmers switch to soy amid corn market reform
Reuters — Wang Zhonghai, a 49-year-old farmer in China’s top corn producing province of Heilongjiang, plans to switch 80 per cent of his land to cultivate soybeans this year as the government ends a near-decade-old corn price support scheme. China announced last week it will stop its corn stockpiling program and allow markets to set […] Read more
Tropical fruit giant buys Canada’s top mushroom firm
A major worldwide distributor and marketer of bananas, pineapples and melons is making a move into the mushroom business, by buying Canada’s biggest player. Fyffes, whose products are sold in Canada and the U.S. under the Fyffes, Turbana, Sol and Fresh Quest labels, on Friday announced it has paid $145 million for all equity in […] Read more
Canary seed demand tepid, prices moving lower
CNS Canada — Despite now being approved for human consumption, demand for canary seed still hasn’t taken flight — and that’s being reflected in lower prices, one industry specialist says. The largest source of pressure in Canada’s canary seed market is weak demand, according to David Nobbs, chair at the Canaryseed Development Commission of Saskatchewan in […] Read more
Ocean freight rate index climbs
CNS Canada — Ocean freight rates have shown some steady strength over the past two months, with the Baltic Dry Index (BDI) back above 400 points. The BDI set a record low of 290 points on Feb. 10-11, but has since posted steady gains, settling at 409 on Tuesday. While that’s still a far cry […] Read more
Deere buys stake in U.S. sprayer maker Hagie
CORRECTED, March 30, 2016 — Reuters — Deere and Co. said on Tuesday it has acquired a majority stake in Hagie Manufacturing, allowing the farm equipment manufacturer to take a greater position the high-clearance sprayer market. High-clearance sprayers, which allow farmers to spray fertilizers and pesticides in-crop later in the growing season, are “a new market for […] Read more
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