Global trade in all four commodities is forecast to reach new all-time peaks during the next five years, mainly driven by expanding needs in Asia and Africa.
From the report "Five-year global supply and demand projections", prepared by the International Grains Council:
The projections outlined in this report represent a possible supply and demand scenario for the major grains (wheat and maize (corn)), rice and soyabeans for the five years to 2021/22, taking into account a number of broad assumptions. These include trends in population growth, agriculture and trade policies, as well as prospects for the global economy.
Noting that the upward trend in the prices of maize and beans is unjustified, the government has announced that it is considering submitting a bill to set minimum and maximum levels for sales.
The government argues that the rising prices seen in maize and beans have been "unjustified" and that is the reason for the possible employment of price controls, establishing a "maximum and minimum ..." explained Eugenio Chicas, spokesperson for the Sanchez Ceren administration.
The drought that affected in 2014 has worsened this year, threatening shortages of basic foodstuffs.
An article on Nacion.com reports that the director of Agricultural Extension of the Ministry of Agriculture of Costa Rica, Felipe Arguedas said "... We are very concerned because two years of drought are joined together; we believe that 2015 will be worse than 1997, which was the driest year recorded so far."
Estimates for the 2014/2015 harvest are that production will be less than the 120 million hundredweight of beans demanded per year in the country.
Compared with the previous crop year there will be a deficit of 6,698 hundredweight, as 359 hectares less have been cultivated than last year, according to the National Directorate of Agriculture. The industry expects that the 2014-2015 harvest will end with 85,000 hundredweight of beans collected, meaning that about 35 million pounds will have to be imported.
The government is preparing a decree that aims to regulate production and discover how much product is acquired by basic grain traders and where they store it.
The decree, which will come into effect in the month of February, is focused on finding out numbers and details related to the production of maize, sorghum, beans and rice, and companies who market them, who will have to provide information about the entire marketing process, from purchasing the product, its existence, volumes, and information on major retail centers.
In Panama plans are underway to create a law on the company Mercados Nacionales de la Cadena de Frío, which will manage wholesale and retail food markets.
From a statement issued by the presidency of Colombia:
The Cabinet Council has agreed to a bill authorizing the creation of the company Mercados Nacionales de la Cadena de Frío, S. A. and established the regulatory framework, and authorized the Minister of the Presidency, through a Cabinet Resolution to submit the rule to the National Assembly.
Salvadoran farmers are projecting a harvest of between 17 and 17.5 million quintals of corn.
The president of the Agricultural Suppliers Association (APA), Oscar Albanez, said they have the required factors for a very good harvest, "Winter in May was better than average. That was very good because it made the soil moist. On the other side, raw materials for producers have been stored up, both fertilizer and agrochemicals as well as seeds", he said according to Elsalvador.com.
The Ministry of Finance has extended by a further three months its open contract with Arrocera San Francisco, which was awarded without competitive bidding and has been in force since November 2009.
"The Open Contract 07-2009, for Q110 million, was signed by the State Procurement Policy Directorate for supplies of rice, white and yellow maize, and black, red and white beans to the Ministry of Public Works of the First Lady, the Ministry of Agriculture and the Ministry of Food Security and Nutrition,” reports Elperiodico.com.gt.
As part of the Agritrade Platform, Guatemala will participate for the 27th time in PMA Fresh Summit, the most important international trade show and convention of fruits and vegetables in the United States, which will take place at Anaheim Convention Center, California from October 17th to 19th.
XAGRO S.A. Announced that they have signed a purchase agreement with Jam LLC to buy 5,000 MT of red beans from China that will be sold to importers throughout Central America to help ease market pressure and lower the high prices caused by recent shortages.
METAGRO is a Guatemalan based manufacturer that provides high end solutions of agricultural transport equipment, we are focused on helping customers be more productive as they help to improve the quality of life for people around the world.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (502) 2383 2720 - (502) 5595 9953
We are a Peruvian industry dedicated to the manufacture of industrial machines, construction, and Madedera Fisheries and Agro Industrial Sugar Refineries, Plant and Mini Coffee Plants.
Operates in Panama
Phone: (051) 7449 8543 - (051) 7420 8489