Milling & Grains – COMMODITY & TRADE UPDATES

The surge is driven mainly by favorable weather conditions and an expanded olive harvest expected to hit 2 million tons, compared with 950,000 tons last year.

Producers who had invested heavily in pesticides, fertilizers, labour, and rented land said they expected better returns, only to be disappointed by low market prices.

Conab credited growth in cultivated area, up 1.9 million hectares to 81.7 million, and favorable weather.

Global wheat production is forecast at 804.9 million tonnes, slightly lower than July’s projection.

The move aims to stimulate Zimbabwe’s agricultural value chain by guaranteeing local farmers an assured market for their grains and oilseeds.