The war effects

U.N. plan to get Ukraine grains out faces hurdles / EXPLAINER

Kiev - Turkey said on Wednesday a United Nations plan to set up a sea corridor for Ukrainian grain exports overseen by Ankara was "reasonable," but required more talks with Moscow and Kyiv to ensure ships would be safe

To Russia

Ukraine conflict squeezes South Africa's citrus exports

The conflict in Ukraine has throttled South Africa's citrus exports to Russia and driven input costs higher, further squeezing fruit producers already suffering from spiralling shipping costs, an industry body said

Commerce minister says

India has no immediate plan to lift wheat export ban

India has no immediate plans to lift a ban on wheat exports, but will continue with deals which are done directly with other governments, Commerce Minister Piyush Goyal told Reuters. The world's second biggest producer of wheat banned private overseas sales of the grain on May 14

The port blockade

Nearly 25 million tonnes of grain stocked in Ukraine / FOCUS

Ukraine is seeking ways to get grain and vegetable oils out of the country by breaking a months-long blockade of the Sea of Azov and the Black Sea by the Russian navy and moving more by land. The war, together with Western sanctions against Russia, have sent prices soaring

As world faces food crisis

Ukraine's embattled farmers running on empty

After making it through the spring planting season, sometimes with the help of bulletproof vests and helmets, Ukraine's farmers are facing another challenge - finding enough diesel for the harvest to come

War in Ukraine

Putin says large Russian grain harvest to support higher exports

Russia, one of the world's largest wheat exporters, will increase wheat exports this year due to a potentially record harvest, President Vladimir Putin said on Thursday. Russia competes with the European Union and Ukraine for supplies of wheat to the Middle East and Africa

The report

Soaring food, fuel ramp up social unrest risk for emerging markets

Rising fuel and food prices look set to stoke an "inevitable" rise in civil unrest, with developing middle-income countries such as Brazil or Egypt particularly at risk, a report by a risk consultancy said. Three quarters of nations expected to be at high-risk or extreme risk of civil unrest

S.Korean tungsten mine gets $100 million makeover

South Korea hunts tungsten treasure in race for rare minerals

Blue tungsten winking from the walls of abandoned mine shafts, in a town that's seen better days, could be a catalyst for South Korea's bid to break China's dominance of critical minerals and stake its claim to the raw materials of the future

After Black Sea port lock

Ukraine sets new grain export curbs for Moldova, Romania

Ukraine has imposed temporary restrictions on the supply of grain cargoes by rail in the direction of Moldova and Romania due to a large number of wagons at border crossings, the APK-Infrom consultancy said on Friday

This year

Zimbabwe govt expects 43% decline in maize harvest

Zimbabwe expects its harvest of staple white maize grain to fall by almost half this year due to poor rainfall in the 2021/22 growing season, but still has enough buffer stocks following a record harvest the previous year

Analysis estimates

Financial firms face $225 billion in water-related losses

Financial institutions face losses of at least $225 billion from risks related to water, with a third of them doing nothing to assess the potential impact, a report by leading environmental disclosure platform CDP and Planet Tracker estimates

In plan to curb inflation

Mexico to boost output of staple foods

Mexico will increase production of staple foods such as corn, rice and beans as part of a plan agreed with business leaders to control consumer price inflation which is at a two-decade high, Finance Minister Rogelio Ramirez said on Wednesday

Ships deployed to enforce export ban

Indonesia stuns markets as it widens ban to include CPO, refined palm oil

Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, among other products, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal

As sales struggle

Russian miner Petropavlovsk seeks new export licence

Russian miner Petropavlovsk has applied for a new export licence, it said on Friday, seeking a fresh lease of life after it was prohibited from selling gold to sanction-hit Gazprombank, the only buyer of its output

Worries on sunflower oil

EU offers farmers aid, more land to grow due to Ukraine war

The European Union will distribute 500 million euros ($550 million) to help farmers and allow them to grow crops on fallow land to mitigate food price spikes and potential shortages resulting from Russia's war in Ukraine

Summit draft statement

EU leaders to agree to jointly buy gas, LNG this year

Brussels - Leaders from European Union countries will agree at a summit this week to jointly purchase gas, liquefied natural gas and hydrogen ahead of next winter, according to a draft of their summit statement

Glencore says

"Markets must adapt to lack of Russian, Ukrainian commodities"

Global commodity markets will need to adapt to a lack of supply from Russia and Ukraine, global trader Glencore said in its annual report on Wednesday: "Over time, global commodity trade flows will need to adapt to some or all of Russian/Ukrainian supply being unavailable"

essentialco & specialtyco

Belgium's Solvay to split into two public companies

Belgium's Solvay will split into two independent public companies in 2023 focussed on chemicals and the other on specialty materials and solutions, it said in a statement on Tuesday. Solvay reported record profits for 2021 in February

From the end of February

E.U, U.S. agree to resume trade in mussels, clams and oysters

Brussels - The European Union and the United States have agreed to resume trade in mussels, clams and oysters from the end of February after they were halted more than a decade ago, marking another step in improved transatlantic relations

Challenges

Rio Tinto report identifies bullying, sexual harassment, racism

London - Global miner Rio Tinto on Tuesday released a report showing a culture of bullying, harassment and racism across its operations, including complaints of actual or attempted rape or sexual assault by 21 women. The external report commissioned by Rio was based on an online survey completed by 10,300 people

Weather experts say

Argentina rains cap crop losses from drought

Buenos Aires - Argentina, a major grains exporter, is set for further abundant rains in the coming days and a likely near-average month of precipitation ahead, weather experts said, which should cap recent crop losses from an extended drought since December. The long spell of dry weather, brought to end by rains arriving earlier this week, had led the Rosario grains exchange to slash its forecasts for corn and soy harvests

Due to higher metal prices

Kazakh president says mining companies must pay higher taxes

Almaty - Kazakh President Kassym-Jomart Tokayev ordered his government on Tuesday to extract greater tax revenue from the mining sector which he said was profiting from higher metals prices. Kazakhstan has just weathered the worst bout of unrest since it gained independence

Ahead of export ban review

Indonesia secures more coal supplies

Jakarta - Indonesia's state utility secured an extra 7.5 million tonnes of coal supplies on Tuesday, helping to avert power outages, boost stocks and increase the chances of the government lifting its export ban soon

The operation

Moves to improve shipping of Namibian charcoal exports

Windoek - As the country's farmers increasingly diversify their activities, the Namibia Charcoal Association (NCA) last week met representatives of some shipping lines to resolve the challenge of handling charcoal shipping containers. According to the latest issue of the Namibia Agricultural Union newsletter, the situation where charcoal is treated as dangerous material with its containers restricted to a specific area on ships, is expected to improve next year

Amid fears of food shortages

Mali suspends grain exports

Bamako - Mali has indefinitely suspended exports of rice, maize and other grains to protect its food supply as the United Nations warned of worsening hunger in West Africa, the minister of trade and industry said on Tuesday

To fight fraud

Congo president demands audit of mining registry

Kinshasa - Democratic Republic of Congo President Felix Tshisekedi has demanded a ban on issuing and trading mining permits until the country's mining registry has been audited, a measure aimed at combating fraud within the sector

In row with UK

France to "fight every day" for more fishing licences

Paris - France said on Friday it was still waiting for Britain to issue 150 more fishing licences to French vessels in a post-Brexit row that has strained British-French relations, and that it would "fight every day" to obtain them

Under climate efforts

Oil industry calls for inclusivity

Abu Dhabi - Energy producers gathered in Abu Dhabi following the Cop26 U.N. climate talks called on Monday for greater inclusivity that would see more investment in hydrocarbons for energy security as they work to reduce emissions while developing their economies

Current shortage not unexpected

UAE says Q1 to see oil supply surplus

Dubai - UAE Energy Minister Suhail al-Mazrouei said on Monday that all indications point to an oil supply surplus in the first quarter of 2022 and he expected OPEC+ would likely stick to current production policy when it next meets in early December. OPEC and its allies agreed earlier this month to stick with plans to raise oil output by 400,000 barrels per day (bpd) from December

More than one billion dollars

Glencore assurances on Chad pave way for IMF lending program

London - Glencore has offered assurances over the restructuring of Chad's more than $1 billion commercial debt, paving the way for the International Monetary Fund to move forward on a lending program, sources familiar with the matter said on Thursday. The African country in January became the first country to request a restructuring of its external debt of $3 billion under a common framework agreed last year by China and other Group of 20 members

The dependency from fossil fuels

China rust- belt province warns of more shortages in energy crisis

Beijing - The largest provincial economy in China's northeast rust belt on Monday warned of worsening power shortages despite government efforts to boost coal supply and manage electricity use in a post-pandemic energy crisis hitting multiple countries

Supply's shortage

Samsung Electronics close to finalising $17 bln Texas chip plant

Seoul - Samsung Electronics is close to finalising the construction of a $17 billion semiconductor factory in Williamson County in the U.S. state of Texas, three people with knowledge of the matter said. Samsung told that it is continuing due diligence in multiple locations, and that it has yet to make a decision. The factory will make advanced logic semiconductor chips and is likely to create about 1,800 jobs

As crunch bites

China seeks to calm power supply fears

Beijing - China's all-powerful economic planning agency waded into the country's power crunch on Wednesday, attempting to reassure residents and businesses in areas hardest hit by shortages that it has the coal use and supply situation under close watch

China says Taiwan sugar, wax apples have pests

Taiwan threatens to take China to WTO in new spat over fruit

Taipei - Taiwan threatened to take China to the World Trade Organization on Sunday after Beijing said it would suspend sugar apple and wax apple imports from the island on pest concerns, in the latest spat between the two over fruit. Relations between Taipei and Beijing, which claims democratically ruled Taiwan as its own territory, are at their lowest in decades, with China increasing political and military pressure to get the island to accept its sovereignty

After contract deal

Strike threat lifted at BHP's Cerro Colorado mine

Santiago - A union at Chile's Cerro Colorado copper mine in Chile has struck a collective contract deal with mine operators BHP after five days of government-led mediation, the company said on Saturday in a statement

In the first half 2021

S. Africa says mine deaths rose 33%

Johannesburg - South Africa's mines recorded 32 deaths in the first half of 2021 compared with 24 during the same period in 2020, the mines ministry said on Thursday, continuing a spike in deaths which began last year in some of the world's deepest mines

As borders stay closed

N. Korea's currency, commodity markets in turmoil

Seoul - Currency exchange rates and commodity prices appear to be wildly fluctuating in North Korea as a resumption in major trade with China hasn't materialised, increasing the hardship for residents facing food shortages

while more downpours were needed in other regions

Above-average rainfall supports Ivory Coast mid-crop cocoa

Abidjan - Above-average rains last week in Ivory Coast's central cocoa-growing regions will help the development of the last stage of the mid-crop while more downpours were needed in other regions, farmers said on Monday

Local buying target of 1.2 mln tonnes unrealistic

Syrian drought puts Assad's 'year of wheat' in peril

Amman - The "year of wheat" campaign pushed by Syrian President Bashar al-Assad is in jeopardy after low rainfall risked leaving an import gap of at least 1.5 million tonnes, according to preliminary estimates by officials and experts. The agricultural blow and lack of funds to finance the imports will add to pressure on a Syrian economy already reeling from 10 years of conflict and buckling under the pressure of U.S. sanctions

Chinese firms at risk

Peru's Castillo has copper tax deals in his sights

Lima - Peru's presidential front-runner is taking aim at copper mining firms' coveted tax stability agreements that freeze tariffs, and the plan could have an outsized impact on Chinese miners in the world's No. 2 producer of the red metal. Socialist candidate Pedro Castillo, the narrow favorite to win Sunday's run-off vote, has proposed new royalties on mineral sales and has floated a plan to renegotiate long-standing tax deals struck under previous governments

Worth 12 billion dollars

TSMC says has begun construction at its Arizona chip factory site

London - Taiwan Semiconductor Manufacturing (TSMC) has started construction at a site in Arizona where it plans to spend $12 billion to build a computer chip factory, its chief executive said on Tuesday. Speaking at the company's annual technology presentation to clients and investors, held online for the second straight year because of the pandemic, CEO C.C. Wei said the planned factory remains on track to start volume production of chips

A year after cave destruction

Aboriginal group seeks to strengthen ties with Rio

Melbourne - The Aboriginal group whose sacred rock shelters Rio Tinto destroyed in Western Australia last year for an iron ore mine said it was committed to improving its relationship with the miner to ensure such desecration never happens again

Via crowdsourcing

BHP, Rio, Vale launch contest to cut haul truck emissions

Melbourne - The world's top three iron ore miners on Thursday launched a competition to crowdsource efficient ways to deliver power to battery-electric haulage truck fleets as they strive to cut greenhouse gas emissions

Column

Carbon pricing - markets, taxes or regulation?

London - The cost of EU emissions allowances has doubled over the last two years, which is likely to renew debate over the relative merits of market-based and tax-based approaches to pricing carbon dioxide emissions

The top presidential candidate

Peru, Castillo vows to curb foreign firms "looting" mining wealth

Lima - Peruvian presidential election front-runner, socialist Pedro Castillo, said on Saturday he would, if elected, review contracts with foreign miners in the copper-rich country and seal a deal for Russia's Sputnik V vaccine. Castillo leads in the polls ahead of a run-off vote on June 6 against right-wing opponent Keiko Fujimori

As deluge shuts rails, slows port

Australian coal exports disrupted

Melbourne - Coal deliveries to Australia's Port of Newcastle, the world's biggest coal export port, have been halted because flooding in the Hunter Valley region has shut rail lines, with heavy rains also slowing ship movements at the port. Heavy rains along Australia's east coast over several days have caused the worst flooding in half a century

In 2021

WFP to procure 200,000 tonnes of wheat for Sudan

Khartoum - The World Food Programme will procure 200,000 tonnes of wheat for Sudan in 2021, in the second year of a programme that allows the country to help prevent shortages while preserving precious foreign currency reserves, a WFP official told Reuters. The system agreed with the WFP last year allows Sudan to reimburse the organization for the wheat in local currency, and aims to help reduce the impact of frequent shortages of wheat

The African country's information minister said

Zimbabwe says China's Tsingshan to build iron ore mine, steel plant from May

Harare - China's Tsingshan Holding Group is set to start developing an iron ore mine and a carbon steel plant in Zimbabwe from May, the African country's information minister said late on Tuesday, three years after the firm first announced the investment deal

Reports record profit

Malaysia's Top Glove says no systemic forced labour found at firm

Kuala Lumpur - Top Glove said an independent consultant has found there is "no longer" any indication of systemic forced labour at the world's largest medical glove maker after it took steps to address U.S. allegations of such practices. The firm announced the findings on Tuesday as it posted a fourth consecutive quarter of record profit

As coronavirus deaths spike

Peru slammed by oxygen shortage

Lima - The death toll in Peru continued to mount on Friday as a relentless second wave of the coronavirus left many hospitals short of oxygen for critical patients even as daily infections continued to climb. In Lima, long lines snake down city blocks as friends and relatives seek to snatch up the last remaining bottled oxygen available in the capital

China punishing Australia's call for COVID-19 inquest

Africa's miners and winemakers toast China's row with Australia

Cape Town - For South African winemaker Vergenoegd Löw, the pandemic could have been a disaster but a bitter trade war between China and Australia has thrown the 325-year-old estate a lifeline. Bottles of its reds, whites and roses piled up when South Africa banned alcohol sales under a strict lockdown and visitors who once flocked to the vineyard near Cape Town to sip wine and snap photos of its famed Indian Runner ducks vanished

As farm protests widen

Tractors, trucks block India's roads

Kundli - Thousands of farmers across India blocked roads on Saturday with makeshift tents, tractors, trucks and boulders to pressure the government to roll back agricultural reforms that have triggered months-long protests. While the initial protests were started by rice and wheat growers from northern India who camped out on the outskirts of New Delhi, demonstrations have spread across the country

Jakarta increasing share of palm oil in biodiesel

Indonesia's palm oil-powered "green diesel" fuels threat to forests

Kuala Lumpur - Indonesia's ambitious biodiesel programme will increase the risks of deforestation as more tropical forest could be cleared to grow palm oil, environmentalists have warned, urging policymakers to implement a long-term ban on new plantations. Indonesia - which is home to the world's third-largest tropical forests but is also its biggest producer of palm oil - has steadily increased the portion in its biodiesel mandate derived from palm oil

Global prices rise

Russia plans to raise wheat export tax from March 1

Moscow - Russia, one of the world's largest wheat exporters, plans to impose a higher export tax on wheat from March 1, its economy minister said on Friday, in another push to curb a rise in domestic food prices triggered by the COVID-19 crisis. Wheat prices in Chicago and Paris jumped after the proposal, which the Russian government has yet to sign

The dispute

Ivory Coast says Hershey cocoa beans deal could derail farmer income scheme

Abidjan - U.S. chocolate maker Hershey's move to buy cheap beans from the New York futures exchange is an attempt to derail plans by Ivory Coast and Ghana to increase farmers' income, the Ivorian cocoa regulator alleged in a letter seen by Reuters on Wednesday. Ivory Coast and Ghana, the world's top producers, are expected to sell their first full cocoa crop this season under a new scheme that includes a price premium of $400 per tonne

Due to political crisis

Ivory Coast cocoa port arrivals plunge

Abidjan - Cocoa arrivals at ports in Ivory Coast tumbled this week due to a violent political standoff following a disputed presidential election in the world's top growing nation. The delivery of cocoa beans to Abidjan and San Pedro ports between Monday and Wednesday were estimated 29,000 tonnes

As Adriatic Metals digs in

Bosnia's mountain minerals offer hope / FOCUS

Vares - In a remote mountain town with a history of mining that dates from Roman times, hopes are high that British mineral company Adriatic Metals will bring jobs and spur some of the economic revival Bosnia craves. Foreign direct investment in the country had already fallen as bureaucracy deterred investors. In the first half of this year, it was down nearly 50% compared with a year ago as the pandemic paralysed economic activity

New businesses

Spice is right as Indonesian startups eye value in vanilla / REPORTAGE

Jakarta - Indonesian Sofa Arbiyanto had a manufacturing job in South Korea two years ago when he learned about the high price of vanilla on the global market, and decided to try his luck at growing it. Now he has 2,000 vanilla vines on a 1,200-sq-metre (0.3-acre) farm in Blora, Central Java, started after he did some internet research and joined online groups of vanilla farmers

Post Covid-19

Iron ore, Rio Tinto sees China demand recovery

Rio Tinto on Friday reported a 1.5% rise in iron ore shipments for the second quarter and said demand for the steelmaking ingredient was improving in China as its economy recovers from the coronavirus outbreak

Post-Covid

China's export slump to ease in June

The slump in China’s exports likely eased in June as some countries reopened their economies, while imports contracted less sharply on higher crude oil and commodities purchases, a Reuters poll shows

commodities

“Made in Italy loses 20% in US market as result of tariffs”

Coldiretti reports. The benefit from the situation is for the lobby linked to the US dairy industry (CCFN) which has explicitly asked with a letter to impose taxes on imports of European cheeses to favor the fake Made in Italy industry and force the Union European to open the borders to the fake Italian food made in US

commodities

SGM celebrates 10 years of change

Genoa - From wholesale food market to a centre for advanced logistics services: 10 years after its move from the city centre to the area of Bolzaneto, the fruit and vegetable market of Genoa, managed by SGM (Società Gestione Mercato), opens its doors to the public. The opening will be on Saturday, 14 September Genoa

commodities

Merkel’s Bavarian allies snub her coal exit plan

Berlin - Conservative Chancellor Angela Merkel’s Bavarian allies have called for Germany to phase out coal by 2030 but the government has insisted on keeping its 2038 target, in the latest sign of strain within her coalition.

commodities

U.S. Supreme Court turns away challenge to Trump steel tariffs

Washington - The U.S. Supreme Court on Monday turned away a challenge to President Donald Trump’s tariffs on imported steel brought by an industry group that argued that a key part of the law under which he imposed the duties violates the U.S. Constitution.

commodities

U.S. farmers experimenting with hemp as China trade war drags on

Washington - A cousin of cannabis plants that produce marijuana, hemp is used in products ranging from food to building materials and cannabidiol, or CBD oil, which is being touted as a treatment for everything from sleeplessness to acne to heart disease.

commodities

China’s May coal imports climb 8.6% from month before

Beijing - China’s May coal imports rose 8.6% from the month before to 27.47 million tonnes, customs data showed on Monday, the highest level since January as power utilities boosted purchases ahead of summer.

commodities

Malaysia to send back plastic waste to foreign nations / GALLERY

Port Klang - Malaysia will send back some 3,300 tons of non-recyclable plastic waste to countries such as the U.S., U.K., Canada and Australia in a move to avoid becoming a dumping ground for rich nations, Environment Minister Yeo Bee Yin said Tuesday

commodities

Ukraine says martial law not affecting Azov Sea grain exports

Kiev - The imposition of martial law is not affecting Ukrainian grain shipments from ports on the Azov Sea so far and if necessary they can be diverted to the Black Sea, Ukraine’s acting agriculture minister says. More broadly, the prospects for grain exports from the Azov Sea are unclear at this point

commodities

US says India paid bigger cotton subsidies than WTO allows

Geneva - The U.S. assessment of India’s market price support (MPS) for cotton said New Delhi was allowed to pay out up to 10 percent of the value of production, but the actual figure had ranged from 53 percent to 81 percent since 2010.

commodities

Bosnia police detain coke plant manager after environmental breaches

Sarajevo - Bosnia’s regional police on Friday detained the general manager of the Balkans’ leading metallurgical coke producer Global Ispat Koksna Industrija Lukavac (GIKIL) which was ordered to halt operations the previous day accused of environmental negligence.

commodities

Israel seeks re-tender of mining rights into Dead Sea / GALLERY

Ein Bokek - The Dead Sea is shrinking at the rate of about a meter a year, leaving behind deserted beaches and sinkholes in a slow-motion environmental disaster. The main culprit is the drying up of the Jordan river, its main tributary, as communities upstream draw on it for farming and drinking

commodities

Qatar’s food giant invests $500 mln in Sudan

Doha - Qatar’s Hassad Food has announced its plan to invest 500 million U.S. dollarsin the agricultural and food sector in Sudan over the next three years. The announcement came after Hassad, the wholly owned subsidiary of Qatar Investment Authority, signed a mutual agreement with a Sudanese company

commodities

Di Maio: «I’ll explore Ilva plan in depth»

Rome - Meetings continue to be positive, the minister is listening to everyone, but there is still no solution for the future of ILVA and one will not come soon. The Deputy Prime Minister himself, Luigi Di Maio, made this clear when he announced further work is needed

commodities

French farmers to stage refinery blockade

Paris - French farmers will start a blockade of oil refineries and fuel depots on Sunday evening in protest at plans by Total to use imported palm oil at a biofuel facility, a move that has fanned farmer discontent over unfair competition

commodities

Trade rows spell gain, and pain, for U.S. grain exporters

Chicago - Global grain marketers have seized upon trade tensions between the United States and several of its top export markets, including China, to turn around struggling trading units following one of the toughest years ever for the industry.

commodities

Metals and sugar face freight rate surge

Paris - Dry bulk freight rates for the smaller sizes of ship are likely to rise significantly over the next three years as demand is expected to outstrip supply, a shipping analyst said Thursday. New orders for Handysize, Handymax and Supramax vessels were at extremely low levels

commodities

Oil, gold to gain on Syrian strikes

London - Gold and oil will extend their gains on Monday, albeit modestly, when the markets open for the first time since Western powers launched a missile attack on Syria but equities and bonds are unlikely to suffer big losses unless the West strikes again or Russia retaliates

commodities

China steel exports may fall further in 2018

Beijing - Chinese exports of steel products may continue to fall this year due to strong domestic demand and reductions in capacity due to environmental commitments, the chairman of state-owned mill Fujian Sangang Group said.