Reuters — U.S. fertilizer maker CF Industries Holdings Inc and Dutch rival OCI NV ended their merger agreement on Monday, following the U.S. Treasury’s steps to curb tax avoiding inversion deals. CF Industries had agreed to buy OCI NV’s North American and European plants for US$6 billion in August, in addition to assuming US$2 billion […] Read more
Fertilizer maker CF Industries, OCI end merger deal
Bayer confirms US$62 billion cash offer for Monsanto
Frankfurt | Reuters –– German drugs and chemicals group Bayer AG said it had made an offer to buy U.S. seeds company Monsanto for US$122 per share in cash, or a total value of $62 billion including debt, to create the world’s biggest agricultural supplier. Bayer said on Monday that the proposal made to Monsanto’s […] Read more
Ex-Dreyfus CEO leaves board in latest shakeup
Paris | Reuters — Global agricultural trader Louis Dreyfus Co. announced board changes on Thursday in which former CEO Serge Schoen will leave the group, another step in a leadership shakeup under main shareholder Margarita Louis-Dreyfus. Schoen oversaw rapid growth at the trading house as CEO between 2005 and 2013. Last year, Louis Dreyfus promoted […] Read more
Syngenta offer deadline extended as regulators probe deal
Zurich | Reuters — The deadline for shareholders in Swiss pesticides maker Syngenta to accept a US$43 billion takeover bid from state-owned ChemChina has been extended to allow for some outstanding regulatory approvals, the company said Tuesday. Syngenta said the offer will now run from May 24 to July 18. “We don’t have all the […] Read more
Forecasters see rising likelihood of La Nina in 2016
Reuters — A U.S. government weather forecaster on Thursday heightened its projections for the La Nina weather phenomenon to take place in the Northern Hemisphere later this year, on the heels of an El Nino likely to fade by early summer. The Climate Prediction Center (CPC), an agency of the National Weather Service, in its […] Read more
France’s Senate suspends palm oil tax, delays neonic ban
Paris | Reuters — The French Senate on Thursday adopted a revised version of its biodiversity bill in which senators scrapped an additional tax on palm oil and delayed until 2020 a ban on pesticides blamed for harming bees. The decisions are not final as the two houses of the French parliament now have to […] Read more
Germany looks set to abstain in EU glyphosate vote
Reuters — Germany looks set to abstain in a European Union vote next week on the continued use of glyphosate in weed killers because ministries run by different parties remain at odds over the chemical which some experts say could be carcinogenic. Glyphosate is used in many herbicides including Monsanto’s Roundup, despite a dispute between […] Read more
JBS posts large loss, announces reorganization
Brasilia | Reuters –– Brazilian meat packer JBS posted a much larger-than-expected first-quarter loss on Thursday, but its shares jumped the day after it announced a corporate reorganization to bring together international operations. JBS, the world’s biggest meat packer, lost 2.741 billion reais (C$1.02 billion) on currency hedging costs and poor results on the company’s […] Read more
Kazakh president meets farmland protests with reshuffle
Astana | Reuters — Kazakh President Nursultan Nazarbayev, facing opposition calls for a demonstration in the business centre Almaty, completed a government reshuffle initiated this week in response to street protests against farmland privatisation plans. Economy minister Yerbolat Dosayev and agriculture minister Asylzhan Mamytbekov, whose ministries were behind the planned land reform, both resigned after […] Read more
Beijing to release frozen pork to temper price rise
Beijing | Reuters –– Beijing will release 3.05 million kilograms of frozen pork from its reserves over the next two months to combat rising pork prices, the city government said on Wednesday. Starting from Thursday and lasting until July 4, the Beijing municipal government will sell 50,000 kg of pork each day to 121 supermarket chains […] Read more
Cyber-Savvy Farmer
