Commodity & Trade Updates
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Australia poised to lower wheat forecast as El Nino curbs output
AUSTRALIA- Traders and analysts anticipate that Australia will probably revise its wheat production estimate for the 2023/24 season downward by approximately one million metric tons. …
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Industry report claims 2008 rice crisis scenario is unlikely in spite of price rises
GLOBAL- Despite the recent exponential rise in rice prices globally, a recurrence of the 2008 crisis scenario remains unlikely, according to the International Rice Statistics…
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Lamentable wheat harvest in Canada to push pasta prices up
CANADA- According to a recent report released by Statistics Canada, all-wheat production stands at 29.5 million metric tons, down 14 percent from last year, which…
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Soybean powerhouse Argentina eases currency policy to alleviate soybean scarcity
ARGENTINA- The world’s largest producer of soybeans, Argentina, is allowing grain exporters to keep 25% of the foreign currency they generate in September to import…
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AFEX inks MoU with Ghana Commodities Exchange for collaborative commodities trading
NIGERIA- AFEX, Nigeria’s leading commodities player, recently signed a Memorandum of Understanding with Ghana Commodities Exchange (GCX), to strengthen the commodity trading ecosystem between the…