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 the initiative soon. Guevarra cites...
Norwegian salmon prices retraction dampens June 2024 seafood exports
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 June 30 figures marked an...
Vietnam’s crab exports to China phenomenal amid EU market decline
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 million of the total crab...
Paris Olympics to go eco-friendly, vegetarian
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 respectively. Besides, the Paris Olympics...
High tomato prices checkmate India, Nigeria
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 market) rates. For instance, on...
“Chevron deference” law overthrow to affect U.S.’ agricultural rules
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) could interpret any ambiguous clause...
The Belize spiny lobster season gets 8 months
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 can only harvest crustaceans with...
Cambodia’s CHM01 corn hybrid enjoys promotion to boost production
After a spree of promotions, Cambodia’s CHM01 corn hybrid looks set to increase national production and reduce cost. The most recent promotion occurred on June 28, 2024 in Phnom Penh courtesy the Korea Program for International Cooperation in Agriculture (KOPIA). KOPIA’s Cambodia director, Song Young Ju said that the variety will boost local production and cut $30 million in annual corn seed imports....
Korean ginseng to reach U.S.’ shores after exchange pact
Seven years of negotiations have finally brought Korean ginseng (Panax ginseng) to the United States under bilateral trade terms. This follows a trade pact that will also see the state of Texas ship grapefruit to South Korea in mutual exchange. According to the government of South Korea on June 30, 2024, the agreement follows mutual inspection parity between the two sides. What...
Massive corn plantings trigger grain price meltdowns after USDA report
Record corn plantings triggered weekend price fall for both corn and wheat following the U.S. Department of Agriculture (USDA)’s acreage report of June 28, 2024. The report showed that American corn acreage will reach 91.5 million acres, 1.464 million acres above that of the March 2024 forecast. Immediately after the announcement, related grain futures including wheat fell on both sides of the...