Vietnam Update – July, 2013

Economic update

Macro economic data in July continued to show stabilisation as it has been year-to-date.

Changes that are worth investors’ attention are those related to the Purchasing Manager Index, credit growth and Foreign Direct Investments (FDI). The PMI increased to 48.5 in July from 46.4 in June 2013. Meanwhile, import growth remained much stronger compared to the same period last year, causing a deficit of USD 733mn as estimated by the General Statistic Office of Vietnam.

An important proportion of this import turnover seems to come in the form of capital goods, as so far we have yet to see a strong pick up in industrial production. The index…

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Duxton’s Agri Bits and Pieces Vol. 140

QUOTE OF THE WEEK

“You look out your backyard and things look great,” he says. “But then you go see friends in Iowa and it looks like a train wreck. It is definitely a reality to see $4 or lower for corn. ”

– Tommy Grisafi, President of the Indiana Grain Company, details where he thinks corn prices are headed with Farm Journal Media’s Pam Fretwell at the 2013 Farm Journal Corn College, near Heyworth, Ill.

http://goo.gl/0cz84

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EU TO BAN FIPRONIL TO PROTECT HONEYBEES

Farmers will not be allowed to spray widely used insecticide blamed for declining bee population.

A widely used insect nerve agent that harms bees will be banned from use on corn and sunflowers in Europe from the end of 2013, after member states overwhelmingly backed the proposal in a vote on Tuesday, 16 July 2013. However, the UK once again failed to back measures to restrict pesticide use.

Fipronil is used in more than 70 countries and on more than 100 different crops, but in May the European Food Safety Authority labelled it…

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Duxton’s Agri Bits and Pieces Vol. 139

 

QUOTE OF THE WEEK

“Iran is already in deep trouble. It is feeling the effects of shrinking water supplies from overpumping. Yemen is fast becoming a hydrological basket case. Grain production has fallen there by half over the last 35 years. By 2015 irrigated fields will be a rarity and the country will be importing virtually all of its grain.”

– Lester Brown, head of the Earth Policy Institute in Washington.

http://goo.gl/MEUXn

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WHEN SURF BECOMES TURF: ALGAE’S ANNUAL BLOOM

The coastal Chinese city of Qingdao has been hit by a near-record algae bloom that has left its popular beaches fouled with a green, stringy muck. The State Oceanic Administration said an area larger than Connecticut had been affected by the mat of “sea lettuce,” as it is known in Chinese, which is generally harmless to humans but chokes off marine life and invariably chases away tourists as it begins to rot.

Some beachgoers appeared to be amused by the outbreak, at least according to the Chinese news media, which in recent days have featured images of swimmers…

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