Global 2022/23 wheat production lowered on smaller crops in India, EU; rice output seen higher

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Global wheat production is down this month primarily on smaller crops in India and the European Union, only partially offset by an increase for Russia, the U.S. Department of Agriculture said in its latest monthly report. It also lowered global consumption forecast and said ending stocks were also being revised down mostly on lower supplies […]

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World production of major cereals seen declining in 2022, first time in four years

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World production of major cereals is expected to decline in 2022 for the first time in four years, while global utilisation is also seen down, for the first time in 20 years, according to a new report by the Food and Agriculture Organization of the United Nations (FAO). However, the use of cereals for direct food consumption […]

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Fresh risks to food security from high food and agricultural input prices, says FAO

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The global food import bill is on course to hit a new record of US$1.8 trillion this year, but higher prices and transport costs rather than volumes account for the bulk of the expected increase, according to a new report released by the Food and Agriculture Organization of the United Nations (FAO). “Worryingly, many vulnerable countries are […]

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India says expects crucial southwest monsoon to be normal this year

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The critical southwest monsoon seasonal (June to September) rainfall, which feeds India’s billion plus people, is most likely to be normal this year, the Indian Meteorological Department (IMD) said in a statement, raising hopes a struggling economy will get a boost as the agriculture sector benefits. “Quantitatively, the monsoon seasonal (June to September) rainfall over […]

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India’s economic growth slows in FY 21-22 fourth quarter; full year GDP growth at 8.7%

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Covid-related restrictions, global supply shortages and higher input costs due to uncertainties triggered by Russia’s invasion of Ukraines further slowed India’s economic growth in the fourth quarter of the 2021-22 fiscal (April-March) with full-year gross domestic product (GDP) growth hitting 8.7% after contracting by 6.6% in the previous financial year, government data showed. The GDP […]

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Pricey critical minerals, supply chain disruption obstacles to rising EV demand – report

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Soaring prices for some critical minerals essential for battery manufacturing, as well as supply chain disruptions caused by Russia’s attack on Ukraine and by continued Covid-19 lockdowns in some parts of China, are the greatest obstacles to continued strong global electric vehicle sales, the International Energy Agency (IEA) said. Ensuring future growth will demand greater […]

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Renewables set to break another global record in 2022 despite headwinds – IEA

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New capacity for generating electricity from solar, wind and other renewables increased to a record level worldwide in 2021 and will grow further this year as governments increasingly seek to take advantage of renewables’ energy security and climate benefits, according to the International Energy Agency. The world added a record 295 gigawatts of new renewable […]

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Major transformation of commodity markets underway amid multiple crisis – report

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Global commodity markets are being reshaped in lasting ways as a result of COVID-19, the war in Ukraine, and the impacts of climate change—a transformation that is likely to have profound implications for developing economies over the coming decades, a new World Bank study has found. The study, Commodity Markets: Evolution, Challenges, and Policies, offers the first […]

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Vegetable oil and maize pull down global food commodity prices in April – FAO

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World food commodity prices decreased in April after a large jump the previous month, led by modest declines in the prices of vegetable oils and cereals, the Food and Agriculture Organization of the United Nations (FAO) reported today. The FAO Food Price Index averaged 158.5 points in April 2022, down 0.8 percent from the all-time high reached […]

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