📰 Listen in on Free on Board's Agri Headlines for notable updates in the agriculture space. On W11 2022's Agri Headlines, we cover five categories: Grain, Oil and Fats, Fruits and Vegetables, Value-added Fruits and Vegetables, and the Meat Market.
💻 Want more agricultural insights? Get smarter and stay updated on the most important agricultural updates on https://www.tridge.com/intelligence-data.
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0:05 If you're looking to stay up to date with the latest food and agricultural news now onto the updates On Agri Headlines today, we're bringing you the latest agricultural updates of Week 11 2022, we're bringing headlines from five agricultural categories.
0:27 The grain, oil and fat, fruits and vegetables, value-added fruits and vegetables, and the meat market.
0:42 As you've seen on headlines, the grain industry is struggling.
0:45 Most recently, Russian Prime Minister Mikhail Mishustin signed an order banning the export of white and raw sugar until August 31st and banned wheat, rye, barley, and maize exports to neighboring Eurasian Economic Union States until June 30th, Deputy Prime Minister Viktoria Abramchenko
1:01 however, said that the export of grain within the quota under individual licenses would continue to be allowed, Wheat and Corn features are continuing to skyrocket, rising 37.36% over the last month, reaching historic heights.
1:16 This comes as Ukraine and Russia together have been responsible for 29% of all global wheat exports.
1:23 Ukraine alone is responsible for 17% of all corn exports.
1:27 As of now, Ukraine and Russia have exported 70% of their export capacity with 30% on hold.
1:33 Large importers of Ukrainian and Russian wheat such as countries in North Africa, Bangladesh, Pakistan, and Indonesia may have to switch to other suppliers of grain.
1:44 The reopening of food service industries is contributing to the heightened demand of edible oils.
1:50 Palm oil futures remain near record highs as traders seek alternatives to sunflower oil.
1:55 Palm oil prices in India increased by 38%.
1:59 Since Indonesia's decision to curb exports to calm local prices.
2:03 Despite the 2021-2022 crop being the second largest crop on record, soybean volumes in all its variations are facing five million metric tons short of consumption estimates Soybean prices in the US could remain near $17 per bushel if you want to learn more about rising soybean prices in the US check out our trigger analysis.
2:26 Our third category is in fruits and vegetables.
2:29 The Chilean Blueberry season has not achieved its initial growth predictions so far there has been a 7% decrease in fresh blueberry exports and a 24.1% decrease in frozen blueberry exports.
2:42 Peruvian avocados, on the other hand, have demonstrated significant growth during recent years.
2:48 In 2022.
2:49 Peruvian avocado exports are expected to reach a volume of over 600,000 metric tons, which is a 14.3% increase from 2021 exports.
2:59 This growth is partly attributed to the opening of new markets like South Korea.
3:05 Egyptian orange production levels are forecast to drop by 16%, with exports dropping by 13.2 In the value-added fruits and vegetables market.
3:15 The South African government is considering applying the Health Promotion Levy, also known as the sugar tax to 100% fruit juice.
3:24 The levy applied to beverages with over four g of sugar content per 100 mL will be increased from 2.21 cents program to 2.31 cents program from April 1, 2022. This implementation could raise fruit juice prices in the country, decrease profit margins for fruit juice processors, and ultimately lower fruit juice production in South Africa.
3:46 Leading global food leaders such as Kraft Heinz Co.
3:49 And Conagra have committed to raising the prices of products to counter rising raw materials and transportation costs.
3:56 Kraft Heinz plans to raise prices by over 10% in Q one and Q two of 2022.
4:03 Lastly in the meat market, given that Russia occupies 28% of all Colombian beef export shares, beef exports in Colombia are set to face challenges with the Russian currency depreciation sanctions and suspended logistics operations.
4:19 That is all for Week 11’s
4:21 Agri headlines.
4:22 For more updates, visit www.tridge.com/intelligence