Vietnamese coffee prices fall on growing global stocks

 Coffee prices in Vietnam have dropped nearly 3 percent in the last week, freezing trade in the world's top robusta exporter as global stocks grow after a steady harvest in Brazil, traders said on Tuesday. "The (export) market is deadly quiet now," a trader in Ho Chi Minh City said, with robusta beans falling to 42,100-42,400 dong ($2.02-$2.03) per kg on Tuesday in the country's key growing province of Daklak, down nearly 3 percent from 43,300-43,700 dong a week ago. December arabicas on ICE lost 1.35 percent to close at $1.6705 a lb on Monday, their weakest level since June 28, following a rise in certified stocks and as steady harvesting...

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Tokyo rubber jumps

Tokyo rubber futures jumped 6 percent to a one-week high on Friday on the back of measures to curb exports by the top three rubber producers and on the prospect of stronger efforts to tackle Europe's debt crisis, dealers said But weaker oil prices and profit-taking after a recent run up limited the gains, they said. The benchmark rubber contract on the Tokyo Commodity Exchange for January delivery rose 9.0 yen to settle at 221.0 yen ($2.79) per kg. It jumped as high as 12.8 yen, or 6 percent, to an intra-day high of 224.8 yen per kg, the highest since Aug 8. The most-active rubber contract on the Shanghai futures exchange for January delivery...

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Ukraine to export up to 1.2 million tonnes of grain

Ukraine's grain exports will not exceed 1.2 million tonnes in August, the same volume as in July, Agriculture Minister Mykola Prysyazhnyuk said on Wednesday. "It will be great if exports reach 1.2 million tonnes this month," Prysyazhnyuk said. Analyst UkrAgroConsult said this week Ukraine had exported 389,000 tonnes of grain, mostly wheat, in August 1-13. Prysyazhnyuk said high local prices prevented traders from making large purchases of Ukrainian grains. Local grain union UAC this week forecast that August exports could total 1.5 million tonnes. Wheat and barley traditionally dominate Ukrainian grain exports in the first months in the marketing year. Ukrainian milling wheat with 12.5 percent protein content cost $244-$251 per tonne ex-farm as of August 10, up from $210-$220 per tonne...

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Corn and wheat move up

US wheat futures rose 1.8 percent on Thursday on concerns about tightening stocks in Russia due to drought that could force the country, one of the world's biggest wheat suppliers, to curb exports. New-crop soyabean futures backtracked from a 2.3 percent rise on Wednesday as more rains crossed the US Midwest crop belt, and corn prices rose on firm cash markets. At the Chicago Board of Trade, September wheat futures settled up 15 cents at $8.61-3/4 per bushel. Benchmark December corn ended up 3-1/2 cents, or 0.4 percent, at $8.07-1/2 a bushel. Most-active November soyabeans fell 9-1/4 cents, or 0.6 percent, at $16.25-1/4 a bushel. Wheat...

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Argentina trims wheat outlook

Argentina's Agriculture Ministry trimmed its outlook for 2012/13 wheat area on Thursday to 3.7 million hectares from 3.82 million hectares a month ago, further dimming the crop's prospects. The South American country is the world's No 6 wheat exporter and the top supplier to neighbouring Brazil. But the area planted with wheat is seen shrinking by about 20 percent this season, largely due to commercial problems. "There were practically no rains during the month of July, which made it impossible to finish seeding all the area that was initially forecast," the ministry said in its monthly crop report. Farmers complain that government intervention...

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FIFO killing local tourism, inquiry told

Michael Cavanagh A Federal Parliamentary inquiry has heard fly in fly out mining is causing problems for some parts of the tourism sector, including tour and bus operators. The House of Representatives committee hearing into the effects of FIFO has heard a submission from the Tourism and Transport Forum, the industry's main lobby group. The forum's director of research and strategy Adele Labine-Romain says while hotel operators in mining centres do well catering to the influx of workers, off the road tourists can't get accommodation and therefore bypass the local attractions. "That has implications for any of the businesses that are targeting the leisure visitor, because the attractions and tour operators, like the national parks that depend on visitor revenue for their funding, we are...

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US grain farmers harvest insurance payments

Brooke Neindorf Farmers in the United States could be making more money in drought than if they'd actually harvested a good crop. Eighty seven per cent of farmers in the States purchase revenue insurance as part of a farm program offered by the US Government. Farmer and president of AgResource Company, Dan Basse, says farmers like having the safety net, especially when grain prices are high. "It does mean when we have a catastrophic drought, like we are now experiencing, the farmer can come through and make a fairly good income, some would argue better than normal even if he had a crop," he said. "But nonetheless it does give him comfort...

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Landholder questions environmental approval process for Wandoan coal mine

 Virginia Tapp A landowner in North Queensland says the Environmental Impacts Statement for the Southern Hemisphere's largest open cut coal mine is flawed. George Houen has been involved in the sale of a number of properties to make way for the Wandoan Coal mine, and says the EIS was conducted assuming that Xstrata would own all land within the mining lease. But he says the fact that three landholders are unlikely to sell means conditional approval of the mine was wrongly granted. "Owners of all the properties within the mining leases got no consideration under the Environmental Protection Act," he said. "Now the situation is that...

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Agriculture Forum urges government to present dams' projects at CCI meeting

Agri Forum Pakistan has urged the government to present Kalabagh Dam, Munda Dam and Bhasha Dam projects in the Council of Common Interest (CCI) and start working on priority basis on that dam, which can be built at the earliest, generate maximum electricity and provide greater resistance against devastation of floods. Agri Forum Pakistan Chairman Muhammad Ibrahim Mughal in a statement issued here on Friday said that the government should consult local and foreign engineers on all these three dams and start working on that dam which could be built at the earliest, could store more water and generate cheaper electricity. He said that Khyber...

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Canadian canola futures rise

ICE Canadian canola futures rose on Thursday as early harvest yields were disappointing, shrugging off pressure from weaker Chicago soyabeans, traders said. Cooler overnight temperatures Wednesday in Western Canada raised some concerns about frost risk later this month, and crusher buying also supported the market in thin volumes - trader. 11 percent of canola swathed in Saskatchewan, overall crop harvest slightly ahead of schedule. Light rains give some relief to drought-stricken US corn, soya. November canola gained $2.80 to $610.80 per tonne on volume of 5,819 contracts. January added $2.50 to $615.20 per tonne on volume of 1,934 contracts....

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KBD construction: LHC gives another chance to file reply

The Lahore High court (LHC) giving another chance to file reply in a petition seeking direction for construction of Kala Bagh Dam (KBD) by August 30. The court asked why the government is not serious to resolve this issue. The court further observed that why the government had not took serious steps to remove the objections of the provinces. The court further observed that if any province has objection on the construction of KBD then why government moved the issue to Council of Common Interests. The petitioner Faroz Shah Gillani through his counsel A K Dogar contended that it is binding duty of the state to decide the issue of Kala Bagh Dam...

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Financial constraints: government likely to shelve Diamer-Bhasha dam

MUSHTAQ GHUMMAN The government is likely to shelve high priority Diamer-Bhasha dam at least for the time being due to uncertain financial assistance from international financial institutions and Friends of Democratic Pakistan (FoDP) including Japan and will commence civil work on the project by utilising its own resources as well as establish power house as Independent Power Producer (IPP), well informed sources told Business Recorder. World Bank and Asian Development Bank (ADB) have already conveyed diplomatically ''no financing'' to the multi-purpose dollars 12 billion project, which will also generate 4500MW electricity at very...

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Islamabad chamber calls for promoting organic farming

IQBAL MIRZA Pakistan needs to promote organic farming which has potential of niche markets for local high-value, non-conventional, indigenous and local agricultural products such as medicinal herbs, according to the member, export, Islamabad Chamber of Commerce and Industry, Ahmad Jawad. Organic farming is the best option for producing quality and healthy agriculture products on cheaper costs to cater to domestic needs besides attracting international market. Some legislation will have to be made to promote organic farming to keep the country's environment, soil and water clean as India has done, he said, adding that it saves the land from losses because of erosion and soil degradation, besides improving soil fertility. Europe has been able to increase organic farming on maximum scale....

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Agriculture show preparations at advanced stage

Preparations are at an advanced stage for the national agricultural show which will be held on August 27. The show will be officially opened by the Managing Director of Stanbic Botswana, Leina Gabaraane.  The theme for this year's show is  'Transforming agriculture in the wake of climate change'. Speaking in an interview, the Chief Agricultural Information and Public Relations Officer for the Ministry of Agriculture, Boikhutso Rabasha said they are working around the clock to prepare for the event. For the first time, this year's show will be held at the spacious new agricultural show ground which is located along the Sir Seretse Khama Airport road.  Rabasha said the animal kraals which were being constructed at the show ground, are almost complete, adding that they are also paving...

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