Archived Posts

NIOP News Flash: June 30, 2016

French politicians have dropped the proposed palm oil tax, leading some politicians to say the country is being blackmailed by producer countries. Last week members of the French National Assembly voted to drop the tax from the country’s Biodiversity Bill during a plenary session. Although this still has to be confirmed by the Senate, which will meet in July to confirm the deletion, producer countries are breathing a sigh of relief. Food Navigator
Is Central Europe the Solution to EU’s Unsustainable Soy Imports?
Europe’s problematic reliance on “unsustainable” soy imports could be solved using Central and Eastern European farming land, the European Commission heard last week. Less than 0.9% of arable land in the EU is used to grow soy, and legumes in general take up only 2% of European farm land, Matthias Krön, Danube Soya Association told the ‘Improving European plant protein supplies’ committee. Meanwhile, Central and Eastern Europe has roughly 110 million hectares of arable land and has the potential for a 40% increase in food output over the next 20 years with some investment and good farming practice, agronomists predict. Nutra Ingredients
Soyabean Oil Recovers From Brexit Punch
 

Soybean oil recovered from the Brexit fallout on Monday, albeit marginally. Crude palm oil, on the other hand, remained range bound. Indian edible oil companies like Adani Wilmar felt that this recovery in international prices will not have much impact despite the rupee weakening against the dollar. The oil market should remain steady on the price front as sowing has picked up for oilseeds. Economic Times (India)

 ICE Canola Climbs Higher With Vegetable Oil
Canola contracts on the ICE Futures Canada platform were mostly higher this morning, taking strength from gains in vegetable oil. The Canadian dollar was slightly weaker relative to its US counterpart which made canola more attractive on the international market. Traders were positioning themselves ahead of the release of the USDA’s quarterly stocks and acreage report which could impact US soybeans. Western Producer
 Indian Soybeans Edge Up Tracking Malaysian Palm Oil
Indian soybean futures made modest gains on today, tracking higher Malaysian palm oil futures, while rapeseed gained on steady demand from oil mills. Malaysian palm oil futures bounced back from early losses to close 1.3 %higher on Thursday, as the market recovered from an oversold state, while gains in soy also boosted sentiment. Reuters
 Grains, Soybeans Mixed Ahead of Stocks, Acrerage Reports
Soybean acres are forecast to increase and corn area is expected to decline from March estimates after wet weather kept corn producers out of fields early in the planting season. Growers also may have changed their minds and seeded more soybeans as price gains outpaced those for corn. US farmers probably planted 83.8 million acres with soybeans this year, up from 82.2 million projected by the USDA in March, analysts surveyed by Reuters said ahead of today’s acrearage report. Growers seeded 92.8 million acres with corn, down from 93.6 million forecast in March, the analysts predicted. Producers last year planted 82.7 million acres with soybeans and 88 million acres with corn, according to the USDA. Agriculture.com
 Sanders Fights GMO Labeling Test Vote
The Senate voted 68-29 late Wednesday on a procedural move that lays the groundwork for a final vote on the GMO labeling bill written by Senate Agriculture Committee Chairman Pat Roberts and ranking member Debbie Stabenow, but only after Sen. Bernie Sanders tried to derail the measure by arguing it was a cover up to defund Planned Parenthood. The Senate is set to vote next week to limit debate on the bill, which gives food companies three options for providing consumers information on GMO ingredients: on-package labeling; on-package electronic labeling; or a symbol that would be developed by USDA. USDA officials would have two years to set thresholds for when labeling would be required, but critics of the bill contend it lacks an enforcement mechanism. The bill still needs to be approved by the House, which passed a voluntary labeling bill last year. Vermont’s GMO labeling law becomes effective tomorrow, July 1. Politico
 Sustainability: A Long Term Investment and Driver of Innovation?
The food industry has taken notable steps to address the issue of sustainable sourcing, compelled by a corporate and social responsibility that ensures products that are produced in a safe, supportive and environmentally responsible manner. According to a report from the Harvard Business Review, businesses cannot afford to dismiss the concept of sustainability as a drain on the company’s bottom line. In fact, the report hailed sustainability as a “touchstone for innovation.” Food Navigator