world in brief
Research
LONDON, U.K. (Reuters) — Scientists have mapped the genome of the domestic pig in a project that could enhance the animal’s use for meat production and the testing of drugs for human disease.
A study published in science journal Nature identified genes that could be linked with illnesses suffered by farmed pigs, providing a reference tool for selective breeding to increase their resistance to disease.
“This new analysis helps us understand the genetic mechanisms that enable high quality pork production, feed efficiency and resistance to disease,” said Sonny Ramaswany, director of the United States Department of Agriculture’s National Institute of Food and Agriculture.
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EU Budget
BRUSSELS, Belgium (Reuters) — European Union chief Herman Van Rompuy tabled a compromise draft EU budget, aiming to mollify Britain, which wants spending cuts, but risking angering France by reducing farm subsidies.
Britain has threatened to veto the seven-year budget, saying the EU should limit spending. Germany, Sweden and the Netherlands have demanded similar restraint.
Van Rompuy’s draft would reduce the roughly one trillion euro proposed budget for 2014-20 by about 80 billion euros.
The proposal also safeguards a budget rebate paid to Britain each year to compensate for the relatively small amount of agricultural subsidies it receives, a payment many other countries resent but recognize would be politically difficult to withdraw.
Under the proposal, all EU countries would share the cost.
FARM POLICY
WASHINGTON, D.C. (Reuters) — American agriculture secretary Tom Vilsack has urged Congress to break a logjam and pass a reform-minded farm bill, but two lobbyists said the deadlocked $500 billion bill may not be enacted for months, or even a year.
Vilsack, who is expected to stay in his position for at least the start of president Barack Obama’s second term, said the agriculture department “would do everything we can” to implement a new farm bill in time for the 2013 harvest next fall.
With deficit reduction at the top of the agenda for lawmakers, Vilsack said “reform becomes a very important component” for the farm bill, already six weeks overdue.
Months ago Obama suggested $33 billion in agricultural cuts, and analysts say the best chance to pass a farm bill this year would be to use its budget cuts as part of an overall plan to reduce the federal deficit.
But they see little chance of a budget pact and say the farm bill is a minor issue for lawmakers to spend time on, compared to looming automatic budget cuts and tax increases.
Agfinance
SYDNEY, Australia (Reuters) — Australia’s GrainCorp rejected a $2.8 billion US takeover offer from Archer Daniel Midland Co. Nov. 15, saying the bid undervalued the grains handler after a bumper harvest delivered a record annual net profit.
ADM’s bid comes at a time of dramatic consolidation in the global grains sector amid intense competition to feed fast-developing countries seeking food security.
GrainCorp is the last available independent large asset in Australia, which is an attractive market due to a stable policy regime and good links to Asia, leading to speculation of a counterbid.
The Australian grains handler, which sources say is pressing for an offer up to 15 to 20 percent higher from ADM, highlighted a 19 percent boost in profits and lifted its long-term earnings forecasts.
Markets
KIEV, Ukraine (Reuters) — Ukraine may start its first shipments of corn to China by the end of this year under an agreement that will allow it to pay back a $3 billion loan to the Asian giant.
Ukrainian agricultural minister Mykola Prysyazhnyuk said the way was clear for shipments to start after the two sides reached agreement on sanitary and other quality requirements for supplies of the commodity.
“Shipments of Ukrainian (corn) will be made in accordance with inter-government agreements and by private companies as well,” Prysyazhnyuk was quoted as saying by his ministry.
The outline agreement should enable Ukraine to pay off $3 billion worth of credit extended by China this summer, he said.
Hunger
ROME, Italy (Reuters) — Food production in North Korea has risen for a second year, but the impoverished country still faces shortages and widespread malnutrition, says the United Nations’ Food and Agriculture Organization.
The FAO predicts a 10 percent increase in the main 2012 harvests and 2013 early season crops compared with a year earlier, and said production was expected to hit 5.8 million tonnes.
The country faced a staple food deficit of 207,000 tonnes, the lowest in many years, but 2.8 million people remained vulnerable to under nutrition, the FAO added.
