Oil prices to be lower in 2019 on slower-than-expected global growth, rising non-OPEC supply – World Bank

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Crude oil prices are expected to average $66 a barrel in 2019 and $65 a barrel in 2020, a downward revision from the October forecast due to the weaker-than-expected global growth outlook and greater-than-anticipated U.S. production, the World Bank said. Metal prices are expected to continue a recovery in 2019 that follows a sharp drop […]

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Global trade in agri-products to become important as climate change impacts production

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International trade in agricultural products will have an increasingly important contribution to feeding the planet, as climate change alters the ability of many regions to produce food, a new report by the UN’s Food and Agriculture Organization (FAO) said. International trade rules established under the auspices of the WTO and newer mechanisms created under the […]

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Indian’s kharif acreage increases to 104.16 mln hectares; cotton, pulses fall

India’s major food grain crops have been planted on 104.16 million hectares (MH) so far this kharif season against an estimated 103.95 million hectares last year. The area under coarse cereal, cotton and pulses has fallen, while acreage of oilseeds, rice and sugarcane has increased, according to agriculture ministry data. The government is optimistic of […]

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Chances of El Nino developing by end of year as high as 70 percent – WMO

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There is a 70% chance of an El Nino developing by the end of this year, according to the latest update from the World Meteorological Organization (WMO). Its intensity is currently uncertain, but a strong event appears unlikely, the agency said in a statement. The El Niño/Southern Oscillation (ENSO) is a naturally occurring phenomenon involving fluctuating ocean […]

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Population growth, eating out, fast foods are driving Australia’s food expenditure to record levels – ABARES

Australia’s recent population growth has been the key driver of a near doubling of domestic food consumption over the past 20 years, according to new ABARES research. ABARES Executive Director, Dr Steve Hatfield-Dodds, said that while a lot of attention had been focused on performance in export markets, domestic producers have been successful in competing […]

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