Duxton’s Agri Bits and Pieces Vol. 193

QUOTE OF THE WEEK

In declaring India’s commitment to veto new global customs rules designed to ease clearances at ports and airports, angering and mystifying fellow members of the World Trade Organization (WTO) in the process, the country’s ambassador to the WTO stated:

To jeopardise the food security of millions at the altar of a mere anomaly in the rules is unacceptable… In order to fully understand and address the concerns of members on TFA (trade facilitation agreement), my delegation is of the view that the adoption of the TF protocol be postponed till a permanent solution on public stock holding for food security is found.

See more:  http://goo.gl/kHESxy and http://goo.gl/RrZVRI

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INDIA’S AGRICULTURAL SUBSIDIES THREATEN GLOBAL TRADE REFORMS

It is 1951, just four years after independence from British colonial rule, and India is facing a serious food crisis after being hit by both floods and a drought, leaving its grain harvest some 4m tonnes short of requirements.

Washington stepped in with urgent food aid, but its efforts…

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Duxton’s Agri Bits and Pieces Vol. 192

QUOTE OF THE WEEK

David Kohl, Professor Emeritus of Agricultural Economics at Virginia Tech University, says farmers need efficient management in production agriculture if they want to be profitable. Kohl told corn producers at the Wyffels Hybrids Corn Strategies Conference near Knoxville, Illinois, that it is going to be a volatile time over the next five years.

In the grain sector, the easy money has been made. But there is opportunity for the real good managers to make money. There are going to be more opportunities for success – but also more opportunities to fail. You need to get efficient before you get bigger, better is better before bigger is better.

http://goo.gl/Ot04A8

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INSPIRING YOUNG AGRICUTLRUAL ENTREPRENEURS IN AFRICA

Young people still view agriculture as a dead-end career that entails life-long labour on a farm. However, it does not have to be this way. With the right investments to support entrepreneurs in agriculture, profitable careers could await Africa’s young population.

When we talk about African development, there is a belief that its booming population…

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Vietnam Update – July 2014

ECONOMIC UPDATE

Economic indicators in June continued to demonstrate the solid growth momentum of Vietnam’s economy.

Vietnam recorded GDP growth rate of 5.18% in the first half of 2014, up from 4.90% of the same period last year . The Services sector posted the strongest improvement of 6.01% YoY, followed by Industry and Construction sector (+5.33% YoY) and the Agriculture, Forestry and Fishery sector (+2.96% YoY).1

HSBC released the Purchasing Manager Index of 52.3 in June, representing the 10th consecutive month of expansion, though at a slower pace compared to May due to weaker external demand. Meanwhile, the Industrial Production Index also rose 5.8% YoY, higher than last year’s growth of 5.3% YoY, according to the General Statistics Office of Vietnam.

Headline inflation inched up marginally to 4.98% YoY in June on higher costs of healthcare, housing and construction materials1, hitting the lowest rate recorded for the last 13 years. As the inflation outlook remains relatively stable, the International Monetary Fund has recommended Vietnam redirect its monetary policy towards inflation targeting while increasing exchange rate flexibility.

Vietnam’s trade balance is estimated to record a deficit…

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