Wild coffee: improving the coffee industry
Coffee is an important commodity globally, but its main markets are the rich, developed countries in Europe and North America. In 2019, the global coffee market had an estimated value of an astounding $102.15 billion. The production of coffee beans is climate-specific and the plants are grown in developing countries in South and Central America, the Caribbean, Africa and Asia. The entire process of cultivating and producing coffee impacts the lives of more than 120 million workers and their families. It is closely related to rural development and poverty. The coffee industry also has an important role in the economies of bean-growing countries. In Honduras, Ethiopia and Guatemala, the export percentage of coffee “makes up an enormous share of their export earnings.” However, there are inequities in distributing the profit in the coffee industry, which disproportionately affect the coffee farmers. Some organizations and companies are attempting to change this in different ways.
Pakistan gets abundant opportunities to enhance its rice export
A detailed report on Pakistani rice was released by China-Pakistan Agricultural and Industrial Information Platform (CPAIC) which offers a comprehensive overview of the varieties, production, trade, and prospects of Pakistani rice. According to Gwadar Pro, the report stated that while Pakistan has already become one of the top rice producers and exporters in the world, there are still abundant opportunities to be exploited in the international market. Pakistan is among the top rice producers and exporters in the world. According to data of the Food and Agriculture Organization (FAO), Pakistan provided over 10 percent of the world’s rice output and was ranked at the ninth position in 2019.
Agri buzz: domestic sugar output jumps 14.33pc
Sugar mills across the country have produced 303.60 lac tons of sugar between 1st October 2020 and 15th May 2021. This is about 38.28 lac tons or 14.33 percent higher than 265.32 lac tons produced at the same time last year. However, as compared to 63 sugar mills which were crushing sugarcane on 15th May 2020, 44 sugar mills are crushing sugarcane on 15th May’ 2021 this year. U.P. sugar mills have produced 108.70 lac tons of sugar as on 15th May’ 2021, which is 13.58 lac tons lower than the production of 122.28 lac tons produced by them last year on the corresponding date. Out of 120 mills operated this year, 99 mills have ended their crushing and 21 mills continue their operations, compared to 46 mills which were operating on 15th May’ 2020 last year. Most of the currently operating factories in the State are expected to close by the end of this month, however, a few may continue to operate in June’ 2021. In Maharashtra, sugar production till 15th May 2021 was 106.16 lac tons, compared with 61.35 lac tons produced in 2019-20 SS, almost 44.81 lakh tons higher than last year.
Crude oil futures fall as US-Iran talks, pandemic, rising US crude stocks weigh on market
The ICE Brent July contract was down 78 cents/b (1.14 percent) from the May 18 settle at $67.93/b, while the June NYMEX light sweet crude contract was down 49 cents/b (0.75 percent) at $65/b.
Overnight prices had taken a significant hit after media reports said that Russia’s ambassador to the International Atomic Energy Agency, Mikhail Ulyanov, stated that the two sides had made “significant progress” towards a deal and that an “important announcement” will be made on May 19. Prices then clawed back some of the losses overnight after Ulyanov clarified that, while significant progress has been made, the negotiators needed more time and effort to address some remaining unresolved issues. This morning’s oil price trajectory, however, followed the broader downward movement seen overnight as the market remained cautious. The restoration of the JCPOA could lead to Iran returning to pre-sanctions oil production of about 3.9 million b/d next year, according to analysts. Iran, anticipating a deal, has already been ramping up oil production, with total output reaching 2.43 million b/d in April, up 130,000 b/d from March, and the highest since May 2019. Much of the oil produced by Iran has gone to China.
US natural gas production to decline in June
Natural gas production from US shale basins is on pace to decline slightly next month, with output from the Bakken and Appalachia leading the slump, US federal data published May 17 show. The US Energy Information Administration (EIA), in its monthly drilling productivity report, forecast natural gas production in June would average 83.5mn ft3/day, a slight decline from the 83.6mn ft3/d expected for March. By percentage, the Bakken shale leads the decline, slowing from 2.8mn ft3/d in May to 2.7mn ft3/d in June, a 2 percent decline. The largest inland gas producer in the nation, the Appalachia shale is expected to average 34.2mn ft3/d next month, marking a 0.15 percent decrease from May. The latest rig count provided by Baker Hughes, using data from Enverus, shows drilling activity declined during the week ending May 14, with the Haynesville play, among the largest gas producing basins in the nation, losing one rig. Nevertheless, Haynesville production is expected to accelerate in June, increasing from the 12.6mn ft3/d in May to 12.8mn ft3/d, a 0.9 percent increase. Gas production from the Permian shale, the only other basin expecting an increase, climbs just a small fraction of a percent from the 17.5ft3/d expected this month.
Tanzania: national milk production set to increase
MILK production in the country is set to increase in the near future following measures being taken to promote supply of high-quality inputs and artificial insemination to smallholder dairy farmers.
The AgResults Tanzania Dairy Productivity Challenge Project in collaboration with the government is currently implementing a four-year project in Dar es Salaam, Tanga, Coast Region and Morogoro to encourage proper feed of animals and improved dairy cow breeds in order to increase milk production. AgResults Project Team Leader, Ms Neema Mrema told journalists in Dar es Salaam yesterday during induction training to competitors that artificial insemination is the only way of quick breed improvement if done appropriately.