Australia winter wheat crop estimate above average
Australian winter wheat crop production in 2021-22 is expected to be above average due to increased planted area, according to an Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) June report. Rise in planting is attributed to favorable weather and increased global commodity prices. Jared Greenville, acting executive director of ABARES, said while the winter wheat forecast is well above average there will be differences across growing regions. “Winter crop production is forecast to be 46.8 million tonnes in 2021–22, which is below the near record high production last year but 13 percent above the 10-year average to 2020–21,” Greenville said. “Mixed yield performance due to tougher seasonal conditions in some areas is expected to reduce production despite the area sown to winter crops being forecast to reach a record high of 23.2 million hectares, up 2 percent from last year.
Milking it dry
The evolution of the dairy value chain in Pakistan can be compared to the adage of the goose that used to lay golden eggs, in which the goose met its untimely end due to unsatiated greed. The same analogy can be drawn for the dairy industry in the country. As the packaged milk industry started to evolve through strengthening of both backward and forward linkages, there was a myopic decision to squeeze out taxes from the industry while sacrificing long-term economic and social benefits in the process. The calculus is simple. Through expansion of a formal dairy sector, and minimum pasteurization rules, the whole dairy value chain can be formalized, having a dual-pronged effect of economic empowerment, and better nutrition. Better livestock incomes would spillover into better farm incomes, and a more robust rural economy.
Libya’s oil production drops by 200,000 bpd
Libya’s crude oil production has declined by more than 200,000 barrels per day (bpd) in recent days, or by almost 20 percent, on the back of pipeline leaks and maintenance at the biggest oilfield, Bloomberg reported on Wednesday, quoting sources familiar with the situation. Libya has reduced this week oil production at fields operated by Waha Oil Company, due to leaks on the pipeline connecting the oilfields to the oil export terminal, Mustafa Sanalla, chairman of the National Oil Corporation (NOC), said during an online conference, as quoted by Bloomberg. In addition, maintenance at Libya’s biggest producing field, Sharara, has also cut production there over the past two weeks, Sanalla added. In total, it is estimated that Libya’s oil production may be currently down by over 200,000 bpd from around 1.1 million bpd it is expected to have pumped in May.
Indian coal market sees growth despite global challenges
“GlobalData expects coal production in India to grow at a compound annual growth rate (CAGR) of 9 percent to reach 1.2Bnt in 2025, meeting the Indian Government’s target of 1Bnt. However, COVID-19 will present some short-term challenges to this estimation. The sharp increase in new COVID-19 cases since the beginning of March 2021, and fresh lockdowns across key coal-producing states (such as Odisha, Chhattisgarh, Madhya Pradesh, Maharashtra, and Telangana) has hampered India’s coal operations. Despite this, there was a slight recovery in coal offtake in April 2021, indicating a revival in demand over the coming months.” In 2020, around 73 percent of the electricity in India was generated from coal. However, India has environmental commitments to reduce carbon emissions to 50 percent by 2030. As a result, the share of coal-fired electricity generation is forecast to fall to 70.6 percent, while the share of renewable rises from 2.9 percent in 2020 to 4.2 percent in 2025.
Turkey sees up to 20 bcm annual natural gas output from Black Sea
Turkey sees an annual natural gas production of between 15 billion cubic meters (bcm) to 20 bcm from the announced gas reserves in the Black Sea, the nation’s energy minister said Monday. “We have projected a 25-year operation plan for the field,” Energy and Natural Resources Minister Fatih Dönmez told the 4th Turkey Energy and Natural Resources Summit, an event organized by Turkuvaz Media Group’s Para Magazine. “We are estimating on average 15 bcm-20 bcm production every year,” Dönmez said. President Recep Tayyip Erdoğan announced Friday the discovery of 135 bcm of natural gas at the Amasra-1 offshore well in the Black Sea’s Sakarya gas field. The find brought the total amount of deposits discovered by the state energy company Turkish Petroleum Corporation (TPAO) to 540 bcm as the announcement followed another one last year that 405 bcm of natural gas was found at the nearby Tuna-1 well, the biggest ever discovery in the Black Sea.
Brazil’s Center-South H2 May sugar production expected to increase 1.3pc on year: survey
Sugar production in the second half of May in Brazil’s key Center-South region is expected to total 2.590 million mt, a slight annual increase of 1.3 percent, according to the consensus expectations of analysts surveyed by S&P Global Platts on June 8. If analyst estimates prove to be right, this will be the highest historical volume of sugar produced in any H2 May. That sugar uptick can be mostly attributed to the strong dry weather in the CS region, which has been converted in an increased ATR – the cane’s total recoverable sugar. Many producers from CS Brazil postponed the beginning of the 2021-22 sugarcane crushing willing to increase the productivity after almost one year of rains below the normal average in the region. According to the survey, the ATR is expected to increase to 136.52 kg/mt from 133.83 kg/mt in H2 May 2020. If this estimative proves to be right, it will be the highest ATR for the period since the crop 2006-07, when it was recorded at 137.7kg/mt of cane.