Commodity & Trade Updates
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AFEX seeks to raise US$65M to drive expansion into 7 new African countries
NIGERIA – AFEX, Nigeria’s first private agricultural commodities exchange player has announced plans to raise US$65 million to fund its expansion plan into seven new…
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Recent rains raise wheat prospects in cash-trapped Argentina
ARGENTINA- Substantial rains in recent days in major Argentine agricultural areas have improved the outlook for the South-American country’s 2023-24 wheat crop, Reuters reported, citing…
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Global grain traders Viterra and Bunge consider possible merger
USA – Glencore-owned global grain trader Viterra is in talks concerning a possible merger with U.S. rival Bunge Ltd- a strategic move that will potentially…
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Cargill to build animal nutrition facility in Brazil, expands RegenConnect program to Europe
BRAZIL- Cargill Brazil is planning to spend US$20 million to build a mineral supplements production plant in the west-central state of Mato Grosso for cattle…
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Kenya to compete with China for maize in traditional source market creating fears of supply crunch
KENYA- Asia’s largest economy is diversifying its corn source markets from the US to South Africa and Latin American countries such as Brazil, which are…