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Scientists discover a new form of pesticide that neutralises pathogens attacking rice

Rice is one of the most important staple foods globally, providing one fifth of the calories consumed by humans. However, the major areas where rice are grown are blighted by pathogens – organisms that cause disease.

To date, this problem has been treated with the use of chemical pesticides that typically target the plant-pathogenic fungi. But, with none of these treatments wholly effective, and many considered unfriendly to the environment, researchers have been seeking alternative solutions.

In a study published in the KeAi journal Fundamental Research, a group of researchers from China, Austria and Japan, outline a promising solution which uses a compound that has no harmful effects on the environment or humans consuming the rice.


Oil prices settle up 4pc

Oil prices jumped on Wednesday, as a large increase in U.S. crude inventories failed to soothe worries about tight global supply, with major oil traders expected to shun Russian barrels.

Brent crude settled up $4.14, or 4 percent, to $108.78. U.S. West Texas Intermediate (WTI) crude futures ended up $3.65, or 3.7 percent, to $104.25.

The gains came a day after both benchmarks climbed more than 6 percent. The oil market has swung wildly as end-users and traders have tried to quantify the disruption in Russia’s daily exports following its invasion of Ukraine. Most estimates range from 1 million to 3 million barrels per day.


Qatar leverages its lng goals with gas diplomacy amid war

Even before the Ukraine war had Europe scrambling for alternatives for Russia’s oil and natural gas, Qatar’s ambitions to grow its LNG business were coinciding with burgeoning energy demand by western countries amid the recovery from the pandemic.

In January, Qatar’s emir secured the first head-of-state visit to the White House in 2022. President Joe Biden designated the nation a “major non-NATO ally” and the US and Qatari energy ministers discussed enhancing energy relations at the CERAWeek by S&P Global conference in early March.

At the same time, Saudi Arabia and the UAE had ignored US requests for more oil to cool gasoline prices, the top driver of record high inflation, dismayed by the cognitive dissonance of the Biden Administration’s climate activism.

The Saudis and the Emiratis also consider the US response to intensifying attacks by Yemen’s Iran-backed Houthi rebels, often targeting vital oil infrastructure, as insufficient, and they continue to sound alarms over the Biden Administration’s attempts to revive the nuclear deal that would end sanctions on Tehran’s energy industry.


Sugar prices settle mixed with London sugar at a 5-year high

May NY world sugar #11 (SBK22) on Wednesday closed down by -0.12 (-0.59 percent), and May London white sugar #5 (SWK22) closed up by +12.80 (+2.27 percent).

Sugar prices Wednesday settled mixed, with London sugar posting a 5-year high. Sugar garnered support Wednesday from a more than +3 percent rally in crude oil prices (CLK22) to a 1-week high. Strength in crude benefits ethanol prices and could prompt Brazil’s sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies. NY sugar fell back from a 5-month high Wednesday and closed lower after a rally in the dollar index to a 1-3/4 year high sparked long liquidation in NY sugar futures.

Sugar prices have support on the outlook for Brazil’s sugar mills to produce less sugar this month. Covrig Analytics last Thursday said that Brazil’s April sugar production could fall by -30 percent y/y to below 1.55 MMT as higher profitability of making ethanol compared to sugar prompts Brazil’s sugar mills to divert as much as 70 percent of sugarcane to ethanol production.


Ukraine war threatens global grain shortages

Ukraine and Russia produce a substantial amount of grain and other food for export. Ukraine alone produces a whopping 6 percent of all food calories traded in the international market. At least it used to, before it was invaded by the world’s largest nuclear power.

Russia, meanwhile, is the world’s largest exporter of wheat, providing more than 17 percent of all wheat sold across national borders. At least it used to, before it was struck with some of the most severe international sanctions ever inflicted.

Any way you slice it, there’s a lot of bread this year that was supposed to be sourced from Ukrainian or Russian wheat that definitely won’t be.


USDA raises 2022 milk production and price forecasts

Compared to last month, the USDA raised the milk production forecast by 300 million pounds to 226.3 billion pounds. If realized, 2022 production would be unchanged from 2021.

Price forecasts for cheese and butter were raised from the previous month on tighter stocks and firm demand. Nonfat dry milk prices were raised fractionally, while whey prices were lowered, as U.S. prices are expected to become competitive with international prices.

With the higher cheese price more than offsetting a lower whey price, the projected annual average Class III price was raised $1.10 from last month to $22.75 per hundredweight (cwt). The projected Class IV price was raised 35 cents to $24.05 per cwt. The 2022 all milk price forecast was increased to $25.80 per cwt, up 75 cents from last month.


India looks to plug gaps in tea supply after Sri Lanka crisis

India is working on a strategy to fill the supply gaps that have opened up in the global tea market following the sudden economic crisis that has engulfed Sri Lanka, the world’s largest tea exporter.

The strategy includes working out alternative payment mechanisms for trade with sanctions-hit Russia and Iran, marketing and brand promotion activities in Europe and North America, and supporting exporters facing high freight costs.

The island nation has been left grappling with a sharp decline in tea production amid 12-14 hour power cuts, as it announced a default on all its external debt of $51 billion.

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