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Commodity & Trade Updates
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BOAD approves US$78M targeting 100,000 tons of extra rice production
The program also aims to reduce Togo’s dependence on rice imports, with domestic milled rice production covering only about half of national demand in 2023.
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Global vegetable oil exports to rise 2% to 141 million tons in 2026/27:USDA
Rapeseed and sunflower oil exports are expected to increase 8% and 15%, respectively.
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Ghana invests US$60M in fertilizer projects to cut import dependence
Ghana has lined up two fertilizer projects that could sharply expand domestic production, including a 500,000-ton plant in the Eastern Region and a separate US$10 million organic fertilizer facility.
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Algeria begins construction of 3m-ton fertilizer complex
The complex will have capacity of nearly 3 million tons a year, including 2.4 million tons of phosphate fertilizers and 570,000 tons of nitrogen fertilizers.
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High fertilizer costs, severe El Niño conditions drag down Philippine rice production
The Department of Agriculture warned that a strong El Niño could cut rice production by up to 700,000 tonnes, or 3.5% of the annual target.