New Delhi | Reuters — India’s competition regulator said the proposed merger between Agrium and PotashCorp was likely to hurt competition, a government statement said Wednesday. The two Canadian fertilizer producers agreed to merge last September to navigate a severe industry slump by boosting efficiency and cutting costs. Neither Agrium nor PotashCorp have physical presence […] Read more
Indian regulator warns on Agrium-PotashCorp merger
U.S. agribusiness deal not a priority for Glencore
Lausanne | Reuters — Glencore does not see further consolidation in agricultural commodities as straightforward and views a U.S. acquisition as less crucial than in the past, the group’s agriculture chief said Tuesday. The diversified trading and mining group had pointed to the possibility of making bolt-on acquisitions after posting improved results for 2016 and […] Read more
U.N. picks former U.S. governor to run World Food Programme
Reuters — United Nations chief Antonio Guterres has appointed former South Carolina Governor David Beasley to run the Rome-based World Food Programme (WFP), at a time when U.S. President Donald Trump has proposed slashing funding for the world body and its agencies. Beasley will replace another American, Etharin Cousin, who has been the WFP executive […] Read more
EU nations vote against GM crops, but not enough to block them
Brussels | Reuters — A majority of EU countries voted on Monday against allowing two new genetically modified crops to be grown in Europe, batting the contentious decision on GM cultivation in Europe back to the EU executive. EU governments were asked to vote on the future of two grades of GM maize, Pioneer’s 1507 […] Read more
JBS weighs suspending U.S. IPO
Sao Paulo | Reuters — Brazil’s JBS SA, the world’s biggest meatpacking company, will decide in coming days whether to suspend listing its overseas operations after a corruption scandal, newspaper Folha de S. Paulo said Monday. A person involved in the deal told Reuters last week JBS had no intention of delaying the US$1 billion […] Read more
Brazil fears lost market share for meat industry
Brasilia | Reuters — Brazil’s meatpacking industry has been badly damaged by a police investigation into alleged unsanitary and corrupt practices, and could lose upward of 10 per cent of its global market share, Agriculture Minister Blairo Maggi said Wednesday. Maggi told a Senate committee that the main concern was with the China and Hong […] Read more
Lactalis short of threshold to delist Parmalat
Milan | Reuters — France’s Lactalis failed to reach the 90 per cent stake in Parmalat it required to proceed to delist the Italian food company in the last day of a buyout offer, a filing by the Milan bourse showed Tuesday. Lactalis, the world’s largest dairy firm, bought 15.11 per cent of the shares […] Read more
Ameropa to shut malting barley trading firm Interbrau
Hamburg | Reuters — Swiss-based grain trading group Ameropa AG said Thursday it will end its involvement in malting barley trading and close its Hamburg-based malting barley trading house Interbrau GmbH at the end of 2017. “This decision is mainly driven by the fact that the malting barley market did not develop as Ameropa had […] Read more
U.S. ag secretary nominee submits ethics disclosures
Reuters — U.S. President Donald Trump’s nominee to head the U.S. Agriculture Department said in Senate ethics disclosure forms that he would place his assets, which include part ownership of a grain merchandising company, into a blind trust. Republican Sonny Perdue was tapped to head the department the day before Trump’s inauguration. Progress on his […] Read more
Caterpillar says compliant with tax laws after IRS claim
Reuters — Caterpillar Inc. said Friday it was compliant with tax laws, a week after federal law enforcement officials raided three of the company’s buildings in connection with a probe into the heavy machinery manufacturer’s offshore tax practices. The Internal Revenue Service (IRS) has challenged the company’s taxes for the years 2007-2012, the company said […] Read more
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