The world’s food prices stabilized in June 2024 following a decline by 3% in cereal prices, the Food and Agricultural Organization (FAO) reported July 5. FAO’s Food Price Index (FFPI), a measure that weighs monthly trade volumes against prices worldwide, stood at 120.6 points for June. May’s FPPI was originally 120.4 points before revision to 120.6 points, an increase of over 1.1...
An uptick surge in the number of ginning factories has made yarn competitive and is pushing cotton prices in Pakistan. By July 7, 2024, bale prices had improved by 600 Pakistani rupees ($2.15) per mound (37 to 40 kg). For one, the southeastern province of Sindh offered cotton from 18,400 to 18,600 rupees ($66.06-66.77) in week 1, July 2024. At the...
Arabica coffee prices finished strong on July 5, 2024 after harvest pressure in Brazil had dipped them before July 3. After a -0.48% decline on July 3, Arabica bean rates for September delivery rose by 2.01% on July 5. The International Coffee Exchange (ICE) recorded $2.29 a pound for September 2024 deliveries, a 1-and1/2 week price high. In comparison, the...
The government of the Philippines is introducing an ambitious nationwide “Rice-for-all” program that insures affordable retail “palay” prices. This comes after “Program 29” which is offering select Manila and Bulacan residents a dream 29 pesos ($0.50) a kilo for rice. On July 6, 2024, Genevieve Guevarra, the Assistant Secretary at the Department of Agriculture (DA), promised to start...
Seafood exports in Norway retracted in June 2024 year-on-year (y-o-y), almost entirely on account of weakening Norwegian salmon prices. As of June 30, the seafood shipment value clocked 12.1 billion kroner ($1.15 billion), a 2.7 billion kroner ($255.7 million) yearly decline. This also marks the first time value decrement has gone above the 2 billion-kroner mark. The...
In the first 5 months of 2024, Vietnam’s crab exports to China spiked by 502% year-on-year (y-o-y). At the same time, shipments to the European Union (EU) plummeted due to origin restrictions. Data by the General Department of Vietnam Customs shows that China-bound crab shipments hit $41 million up to May 2024. In May alone, China gobbled up $11...
The organizing committee is on course to make the Paris Olympics in France the most eco-friendly and vegetarian ever. The event, which starts on July 28, 2024 in summer heat, will use cool water pumping systems instead of air conditioners. Hence, carbon emissions will be just 50% of those in the London and Rio games in 2012 and 2016...
Uptick tomato prices across the tropics, especially in India and Nigeria have made consumers to forgo the kitchen staple. In Nagpur in Maharashtra, central-west India, retail prices are at 100 rupees ($1.20) a kg, 90 rupees ($1.08) above the standard. Whenever shortage bites in Nagpur, it usually leaves wholesalers and retailers at price discretion irrespective of mandi (state-run wholesale...
Agricultural bodies in the United States will no longer interpret unclear laws freely after the overturning of the 1984 Chevron deference law on June 28, 2024. In the 6-3 Supreme Court decision, federal agencies lost big, leaving Congress and the courts future decisions on unclear laws. Hitherto, farm subsidy agencies like the U.S. Department of Agriculture (USDA)...
Belize’s Fisheries Department has allocated the Belize spiny lobster season a timeline of July 1, 2024 and February 28, 2025. This is per the Fisheries Resource Act and the Subsidiary Regulations of the Caribbean country. With the announcement came regulations that will last throughout the fishing period on minimum size, weight and shell maturity. Fishermen...