Last update: Sun, 11 Dec 2016 04pm

Agriculture and Allied: World


China's imports of commodities surged unexpectedly last month putting the world's second-largest economy on track to set records for shipments of iron ore, coal and soybeans even as concerns linger about slowing economic growth. For some markets, like soybeans, the robust buying was in line with seasonal expectations as livestock farmers scooped up feed for their animals ahead of peak demand for pork and other meat during the nation's week-long Spring festival.
Ukraine, the world's third-largest grain exporter, plans to strengthen checks for genetically modified organisms (GMOs), a senior agriculture official said on Tuesday, citing soybeans as a particular concern. In Ukraine it is not illegal to grow GM plants, but no GMOs have the official registration needed for legal cultivation, the head of the State Food Safety and Consumer Protection Service, Volodymyr Lapa, told Reuters.
The US Commodity Futures Trading Commission on Monday revised its proposed rules for limiting positions that traders can hold in the commodity markets, dashing expectations that it would finalize the rules by year-end. The CFTC has been working on the rules since the 2010 Dodd-Frank Wall Street reform law called for limits on futures, options and physical commodity swaps contracts in order to prevent fraud and manipulation. CFTC Chairman Timothy Massad had said he anticipated the commission would finalize them before the end of the year.
Uganda signed a 90 million-euro ($95 million) loan deal with German development bank KfW and French government finance agency AFD on Friday to build a 45 megawatt (MW) power plant in the country''s west, where crude reserves have been discovered. The east African country, which currently generates about 850 MW of electricity, has accelerated investments in its energy sector as it tries to raise capacity to at least 1,500 MW by 2018.
China, the world's largest soya buyer, imported 7.84 million tonnes of soyabeans in November, the highest in nearly a year, government data showed on Thursday, as crushers replenished stocks ahead of the peak consumption period. Imports surged 50.5 percent from October and were 6 percent higher than November last year, figures from the General Administration of Customs of China showed. It was the loftiest since December last year.
The United States has been shipping an eye-popping amount of soyabeans lately, but this year's high expectations render the current export pace as nothing out of the ordinary. And there are already signs that the world's No 2 soyabean supplier might actually risk an underwhelming performance by year end.
Palm oil on the European vegetable oils market eased on Thursday because a stronger ringgit could dampen export demand, triggering some technical selling in Malaysian palm oil futures. Palm oil was offered between $10 and $20 a tonne lower, also pressured by sharply lower CBOT soyaoil futures. Malaysian palm oil futures closed between four and 32 ringgit per tonne down.