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File photo of barley being loaded off the combine. (Collab Media/iStock/Getty Images)

EU plans to hit Russia, Belarus grain imports with tariffs

Commission aims to curb Russian income, prevent market distortions, placate farmers

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The European Commission proposed on Friday imposing tariffs on imports of grain from Russia and Belarus in an attempt to prevent Moscow and its ally from distorting EU markets and placate farmers who have protested for months over cheap imports.
Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops, Markets

Nutrien misses quarterly profit estimates as potash prices plummet

Fertilizer demand expected to rise in Q4

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Reuters — Nutrien fell short of analysts’ estimates for third-quarter profit on Wednesday, as lower potash prices weighed on the world’s biggest fertilizer producer. Potash prices have been falling after shipments from Belarus and Russia resumed. These exports had been significantly restricted last year following Western sanctions imposed on Russia in response to its invasion […] Read more
Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops, Markets

Nutrien cuts earnings forecast after quarterly profit misses estimates

High fertilizer prices seen dragging on demand

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Reuters — Nutrien Ltd. on Wednesday cut its forecast for 2023 earnings as elevated fertilizer prices owed to Western sanctions on Russia and Belarus weigh on demand. U.S.-listed shares of the company fell 3.9 per cent in extended trading Wednesday as it also reported a lower-than-expected quarterly profit. Though fertilizer prices have dipped from record […] Read more
File photo of a train in Belarus. (Dimarik/iStock/Getty Images)
Crops, Markets

Belarus to allow Ukraine grain transit with no preconditions, U.N. says

Belarus still wants sanctions lifted off fertilizer

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United Nations | Reuters — Belarus told the United Nations on Friday that it would allow, without preconditions, the transit of grain from Ukraine through its territory for export from Lithuanian ports, a U.N. spokesman said. Belarus, used by its ally Russia as a staging ground for Moscow’s Feb. 24 invasion of Ukraine, said in […] Read more
Agriculture Minister Marie-Claude Bibeau on July 19 attended an event in Winnipeg marking the 50th anniversary of Cereals Canada with that organization’s CEO Dean Dias. (Dave Bedard photo)
Crops

Direct compensation for fertilizer tariffs not on table

Eastern farm groups call for help ahead of fall seeding

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Farmers in Eastern Canada who rely on imports of Russian-made fertilizers aren’t going to see direct compensation for the federal government’s general tariff on those products. A clutch of farmer and ag industry groups on July 15 put forward a new request to Ottawa for compensation to farmers “negatively impacted” by a 35 per cent […] Read more
Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops, Markets

Nutrien to further boost potash output amid global shortage

Company will also speed up nitrogen capacity boosts

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Reuters — Nutrien, the world’s largest fertilizer producer, said Thursday it will increase its Canadian potash production by 20 per cent to an annual 18 million tonnes by 2025, helping to address tight supplies that have contributed to a global food shortage. Potash prices have soared since the West imposed sanctions against Russia for Moscow’s […] Read more
U.S. Secretary of State Antony Blinken listens to U.N. Secretary-General Antonio Guterres during a “Global Food Security Call to Action” meeting of foreign ministers at U.N. headquarters in New York on May 18, 2022. (Photo: Reuters/Eduardo Munoz)
Crops

U.N. chief in talks on restoring Ukraine grain exports

Contact made amid global food crisis

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United Nations | Reuters — U.N. Secretary-General Antonio Guterres said on Wednesday that he is in “intense contact” with Russia, Ukraine, Turkey, the United States and the European Union in an effort to restore Ukrainian grain export as a global food crisis worsens. “I am hopeful, but there is still a way to go,” said […] Read more

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