In April Brazil milk prices rise 18.7pc
The Price of the milk produced in April in Brazil closed at BRL 2.4576/liter on the net “Brazil Average”, moving up 5.1percent compared to that in the month before. It is the sixth consecutive rise, according to a recent market report from Cepea.
Therefore, in the partial of this year, milk values rose 18.7percent in real terms (quotations were deflated by the IPCA from April/24).
Price rises continue linked to the production decrease. The Cepea Milk Production Index (ICAP-L) dropped 0.37percent from March to April and 7.8percent in the accumulated of 2024.
In addition to the low investment at the end of last year, the off-season period in the Southeast and in the Central-West and the delay of the season in the South, due to unfavourable weather conditions, have reduced the supply of raw milk. Thus, the competition among dairy companies and cooperatives for suppliers in order to assure the raw material remained significant, sustaining the upward trend.
OPEC+ accepts to extend output cuts to buttress oil prices
The OPEC+ group of oil-producing nations agreed Sunday to extend their production cuts in a bid to support prices, as economic and geopolitical uncertainty looms over the market.
The 12-member oil cartel and its 10 allies decided to “extend the level of overall crude oil production… starting 1 January 2025 until 31 December 2025,” a statement by the alliance said.
In addition, eight countries said they would also extend voluntary supply cuts made at Riyadh’s request to further support the market: Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman.
Some of those cuts will run until September before being phased out, while others will be kept in place until December 2025.
Power generation from Thar coal reaches 2,640mw
Thar Coal is currently contributing approximately 2,640MW of electricity to the national grid from its two blocks, with power generation expected to reach about 3,280MW by the end of this year.
Azhar Malik, Vice President of Site Operations at Sindh Engro Coal Mining Company (SECMC) for Thar Coal Block II, disclosed this while speaking to the media in Islamkot, Tharparkar. Malik mentioned that each block produces 1,320 MW of electricity. He highlighted that Thar coal could save Pakistan $8 billion annually by generating cheaper electricity and suggested shifting cement and urea fertilizer plants to Thar coal to strengthen the country’s economy. He noted that the cost of electricity from furnace oil is Rs 49 per unit, from RLNG Rs 51 per unit and from imported coal Rs 41 per unit, while Thar coal generates electricity at Rs 24 per unit and with increased production, this cost could drop to Rs 20 per unit, benefiting both domestic and industrial users.
Government weighing surplus sugar export
Federal Minister for Industries and Production Rana Tanveer Hussain has stated that the decision regarding the export of surplus sugar stock would be made in collaboration with all relevant departments.
The Sugar Advisory Board (SAB) convened under the chairmanship of Rana Tanveer Hussain to address the issue.
Federal Minister for Commerce Jam Kamal Khan and key stakeholders, including the Pakistan Sugar Mills Associations (PSMA), Kissan Ittehad, and provincial representatives, were present at the meeting.
The gathering deliberated and assess various factors, including sugar stock availability, prevailing market prices, sugarcane rates, global sugar prices, and industry production costs.
PM: diversify tea to earn more foreign currencies
Prime minister Sheikh Hasina on Tuesday asked all concerned to add value to tea instead of only selling tea leaves in bulk as the demand for diversified tea products is increasing globally.
‘People’s taste has now changed. Different kinds of tea are now available. Produce aroma tea. The demand for teas having various flavours is now very high globally. Special attention is required to this end alongside producing tea,’ she said.
The premier was inaugurating the tea festival as chief guest marking celebration of the 4th ‘National Tea Day 2024’ at the Osmani Memorial Auditorium in the capital Dhaka on the day.
She also conferred the National Tea Award 2024 on different persons, organisations and companies in eight categories.
The prime minister asked the tea garden owners and tea businessmen to add value to the tea.
‘If you add value to tea, you will get more money comparing to (only) sale of tea leaves abundantly as the demand for aroma tea is increasing globally day by day,’ she said.
In 2017-18 farmer angst stokes record pulses procurement
The Central Government procured a record Rs29,070 crore worth of pulses and oilseeds from farmers at minimum support prices (MSPs) in the 2017-18 crop season, arresting what could have been a sharper fall in wholesale prices.
The procurement was unprecedented and triggered by growing unrest among farmers spread across the country. Given that this constituency is politically critical, especially due to the busy election season—six states have gone to polls in the past eight months and four more follow in 2018—and general elections due in less than a year, the Union government turned out the stops.
“Procurement of pulses in the last three years is more than five times what government agencies purchased in the previous 15 years,” said Sanjeev Chadha-Nafed, adding, “The achievement is due to the centre’s commitment to procure from farmers at support prices and monitoring on a daily basis by the Prime Minister’s Office.”
Production of major vegetable oils worldwide
The Production volume of vegetable oil in the 2023/24 crop year exceeded 220 million metric tons worldwide. Among the major categories of vegetable oil, palm oil had the highest volume of production, at 79.4 million metric tons in that time period.