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SINGAPORE/BEIJING: China has asked trading firms and food processors to boost inventories of grains and oilseeds as a possible second wave of coronavirus cases and worsening infection rates elsewhere raise concerns about global supply lines.
COVID-19 has resulted in a global pandemic which has to date infected more than 3.56 million people and nearing 250,000 deaths reported globally.
SINGAPORE: Lockdowns and panic food buying due to the coronavirus pandemic could ignite world food inflation even though there are ample supplies of staple grains and oilseeds in key exporting nations, a senior economist at FAO and agricultural analysts said.
SINGAPORE: The Hubei province lockdown is pushing its more-than 300 million chicken flock to the "edge of death, ” according to the region’s poultry association.
BUENOS AIRES: Argentina’s top exporter of processed soy, Vicentin, is in talks over a potential takeover deal with firms including European grains giant Glencore to help resolve a debt crisis, according to two sources close to the negotiations.
MUMBAI: India’s volatile food prices are yet again posing a sticky inflation problem for its central bank, preventing it from cutting rates as deep as it would like to support a stuttering economy.
SINGAPORE: Beijing could remove extra tariffs imposed since last year on US farm products to ease the way for importers to buy up to US$50bil worth, rather than direct them to buy specific amounts, the head of a government-backed trade association said.
KUALA LUMPUR: The palm oil industry is facing dual threats from its biggest buyers - India and Europe - but don't tell that to the traders chasing up prices on Bursa Derivatives.
KUALA LUMPUR: Palm oil futures surged to their highest level since June last year at RM2,359 a tonne on Wednesday as a Chinese decision to waive retaliatory tariffs on purchases of US soybeans boosted prices of rival soybean oil.
NEW YORK: Oil prices eased on Friday on renewed concern over the U.S.-China trade war, but futures still posted weekly gains, with Brent marking its biggest weekly increase since January, after an attack on Saudi Arabia's energy industry last weekend.