WASHINGTON, Aug 2 (Reuters) – China’s government quietly issued new procurement guidelines in May that require up to 100% local content on hundreds of items including X-ray machines and magnetic resonance imaging equipment, erecting fresh barriers for foreign suppliers, three U.S.-based sources told Reuters. Document 551 was issued on May 14 by the Chinese Ministry […] Read more
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China quietly sets new ‘buy Chinese’ targets for state companies
Vietnam plans to stockpile rice as coronavirus curbs hit farmers
HANOI, Aug 3 (Reuters) – Vietnam plans to stockpile rice purchased from domestic farmers in a bid to help growers affected by strict coronavirus movement curbs and low export prices offload their harvest, state media reported on Tuesday. The move, which is subject to approval by Vietnam’s prime minister, should encourage farmers to continue rice […] Read more
Minerals group K+S hikes 2021 profit forecast for second time this year
Aug 3 (Reuters) – German potash and salt miner K+S on Tuesday raised its 2021 core profit outlook for the second time this year, citing higher average prices in the agriculture customer segment and a strong industry business. The group, which makes potash fertilisers and salts for cooking, animal feed and de-icing roads, now expects […] Read more
U.S. bread, donut makers urge Biden to roll back biofuel requirements
WASHINGTON, Aug 3 (Reuters) – A trade group representing some of America’s biggest baked goods companies is urging the Biden administration to ratchet back its biofuel ambitions, arguing that using fuel made from crops could raise the cost of donuts, bread and other foods. The complaints mark an unusual entrance by the food industry into […] Read more
North Dakota spring wheat crop slashed by drought
FARGO, North Dakota, July 29 (Reuters) – The average spring wheat yield in North Dakota, the top-producing state, was estimated at 29.1 bushels per acre on Thursday by the annual Wheat Quality Council tour, the lowest on record going back to 1993 due to a severe drought in the northern Plains. The figure was well […] Read more
Russian state weather forecaster cuts grain crop estimate
MOSCOW, July 29 (Reuters) – Russian state weather forecaster has cut its estimate for the country’s 2021 grain crop by 3 million tonnes to 121 million tonnes after drying and cleaning due to dry weather, the RIA news agency reported on Thursday. Russia, the world’s largest wheat exporter, has been hit by dry and hot […] Read more
N.Korea’s economy in crisis because of COVID-19, sanctions
SEOUL, July 30 (Reuters) – North Korea’s economy suffered its biggest contraction in 23 years in 2020 as it was battered by continued U.N. sanctions, COVID-19 lockdown measures and bad weather, South Korea’s central bank said on Friday. The Bank of Korea (BOK) gives the most reliable estimates of economic output in the reclusive North, […] Read more
French soft wheat harvest speeds up with dry weather
PARIS, July 30 (Reuters) – The French soft wheat harvest sped up last week as dry weather offered farmers a respite after heavy rainfall, but was still lagging far behind last year, farm office FranceAgriMer said on Friday. About 47% of the French soft wheat crop area had been cut by Monday this week, up […] Read more
Ukraine’s 2021/22 grain exports reach 2.5 mln tonnes
KYIV, July 30 (Reuters) – Ukraine’s grain exports rose to 2.47 million tonnes in July, the first month of the new 2021/22 July-June season, up 136,000 tonnes from a year earlier, agriculture ministry data showed on Friday. That included 694,000 tonnes of wheat, 821,000 tonnes of barley and 939,000 tonnes of corn, the data showed. […] Read more
Caterpillar earnings soar as global recovery boosts equipment demand
July 30 (Reuters) – Caterpillar Inc on Friday reported higher quarterly earnings as a recovery in global economic activity from pandemic lows drove up sales across all regions and businesses. However, the Illinois-based manufacturer of heavy machinery did not provide an earnings forecast for this year. It also warned that operating profit margin would moderate […] Read more
