Sao Paulo | Reuters — Brazilian federal police started two separate investigations on Tuesday into suspected corruption at the Agriculture Ministry to benefit meatpacking, dairy and other food companies. The probes into whether inspection procedures were eased in favour of certain unnamed companies comes two months after the country’s meatpacking industry was rocked by a […] Read more
Brazil police probe ag ministry for corruption
Ottawa to keep revenue cap on grain shipments by rail
Ottawa | Reuters — The Canadian government introduced draft legislation on grain transportation on Tuesday that would keep in place a revenue cap on western grain that railways haul for export. The grain revenue cap, or “maximum revenue entitlement” (MRE), has been in place since 2000 and is intended to balance the market power of […] Read more
K+S vows new Saskatchewan mine won’t undermine prices
Frankfurt | Reuters — German potash miner K+S vowed it would not have to undercut rivals on price as it brings two million tonnes of new potash capacity to the North American market next year. Faced with the gradual depletion of its domestic reserves over the next 35 to 40 years, K+S built its new […] Read more
Bayer to sell Liberty brands to get Monsanto deal passed
Frankfurt | Reuters –– Bayer has agreed to sell its Liberty herbicide and LibertyLink-branded seeds businesses to win antitrust approval for its acquisition of Monsanto, it said on Monday. The divestment of the two global brands, a requirement imposed by South Africa’s Competition Commission on Sunday, will account for the bulk of asset sales worth […] Read more
Towns evacuated as heavy rains pelt Eastern Canada
Toronto/Ottawa | Reuters — Torrential rains lashed parts of central and Eastern Canada on Friday, causing flooding, flight delays and traffic disruptions, and the prime minister said the federal government was ready to provide help if necessary. The provinces of Ontario and Quebec have been dealing with the fallout of heavy spring rainfall this week, […] Read more
ChemChina clinches takeover of Syngenta
Zurich | Reuters –– ChemChina has won more than enough support from Syngenta shareholders to clinch its US$43 billion takeover of the Swiss pesticides and seeds group, the two companies said Friday. The deal, announced in February 2016, was prompted by China’s desire to use Syngenta’s portfolio of top-tier chemicals and patent-protected seeds to improve […] Read more
Kraft Heinz profits miss on weak demand in Canada, U.S.
Reuters — Kraft Heinz, North America’s third-largest food and beverage company, reported lower-than-expected quarterly profit and sales, hurt by weak demand in the U.S. and Canada. Shares of the company, which owns brands such as Velveeta cheese and Heinz ketchup, were down nearly three per cent at $86.75 in after-hours trading on Wednesday (all figures […] Read more
Proposed Dow, DuPont merger gets conditional nod from China
Beijing | Reuters — China has conditionally approved the proposed merger between Dow Chemical and DuPont, the country’s commerce ministry said on Tuesday, a step forward for the deal whose closing has been repeatedly delayed by regulatory hurdles. The merger was approved by EU antitrust regulators in March on the condition the companies divest assets […] Read more
Pacific trade pact nations meet to discuss future without U.S.
Ottawa | Reuters — Negotiators from the remaining members of the Trans-Pacific Partnership (TPP) gathered in Canada on Tuesday seeking ways to boost free trade in the region after the U.S. pulled out of the 12-nation pact. The withdrawal killed off years of negotiations and left the region looking for ways to deepen economic ties […] Read more
Agrium posts smaller-than-expected loss for quarter
Reuters — Agrium, the world’s biggest farm retailer, reported a smaller-than-expected loss on Monday, helped by higher selling prices for potash. The Calgary-based fertilizer and ag retail firm sold 636,000 tonnes of wholesale potash in the first quarter ended March 31 at an average of $208 per tonne, compared with 456,000 tonnes at $199 per […] Read more
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