Australia says pandemic presents challenges, but agri outlook depends on recovery from drought

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While the COVID-19 pandemic will continue to present challenges, the outlook for Australia’s agriculture will be dominated by recovery from drought, according to ABARES’ June Agriculture Commodities report. ABARES’ acting Executive Director Peter Gooday said that better seasonal conditions are expected to see the value of farm production increase modestly to $61 billion in 2020–21, […]

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Australia and India sign minerals agreement under Comprehensive Strategic Partnership

Australia has taken a significant step towards establishing itself as a reliable supplier of the critical minerals needed to grow India’s manufacturing sector and its defence and space capabilities. Australia and India today announced a new Memorandum of Understanding (MoU) on critical minerals, the details of which are not yet revealed. The announcement was a […]

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FAO forecasts 2020 world wheat output at around 763 million tonnes

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FAO’s forecast for 2020 world wheat production points to an output of roughly 762.6 million tonnes, a comparable level to the 2019 production which, if materialized, would be the second highest on record. The UN food agency said smaller harvests are expected in the European Union, North Africa, Ukraine and the United States of America. These declines will […]

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Federation of Indian Mineral Industries seeks waiver of 15% duty on bauxite exports

As exports of non-plant grade bauxite from the country are losing traction in the international market, Federation of Indian Mineral Industries (FIMI) has sought exemption of 15 per cent duty levied on export shipments. The mineral lobby body has appealed to the Union finance ministry to exempt bauxite exports from duties. This intervention by the government will […]

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Australia dismisses food security concerns, says there is more than enough for everybody

Australia said it did not have a food security issue despite temporary shortages of some food items in supermarkets due to an unexpected surge in demand on concerns around COVID-19. “The COVID-19 pandemic has taken Australia and the world by surprise. Coming after severe drought conditions in eastern Australia, concerns have been raised about Australian […]

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Philippines to dethrone Indonesia as largest global nickel ore producer

Global nickel production will drop significantly over 2020 as major producer Indonesia’s nickel ore export ban comes into effect, Fitch analysts assert in a recent report. This drop will be slightly offset by the impact of rising production growth in the Philippines where some currently suspended mines will become operational again, while the country aims to plug […]

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