Commodity & Trade Updates

The revised price is higher than what most farmers received during the last harvest.

The landmark deal positions Cobram Estate as the largest olive oil producer in the US, significantly expanding its footprint in California and strengthening its global market presence.

While the private sector will be responsible for the purchase, financing, storage, maintenance and supply of strategic wheat reserves, the government will retain a regulatory, oversight and strategic control role.

Exports rose to 21.55 million tonnes from 18.05 million in 2024, close to the 2022 record of 22.3 million tonnes.

The government justifies the move with the “need to create a transparent mechanism for the import of rice and wheat, and to consequently eliminate the illegal export of foreign currency.