Duxton’s Agri Bits and Pieces Vol. 188

QUOTE OF THE WEEK

At the Agricultural Youth  Summit in Johannesburg, on 23 June 2014, the South African Government announced  that more than R7 billion (USD 660.6 million) will be spent on conditional  grants for provinces to support South African Farmers. Agriculture, Forestry  and Fisheries Minister Senzeni Zokana, made the announcement:

The sector’s significance is largely because of  its potential to create jobs, and is a key focus of the National Development  Plan, a plan by the government to create one million new jobs by 2030. South  Africa should invest more in agriculture to create those jobs and education and  training so that youth can take advantage of them.

http://goo.gl/IyjLuA

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CASH  COWS

Australian farm milk has hit  Chinese supermarket shelves, signalling the beginning of a new frontier for  dairy producers. Fresh milk can now travel from  Australia to supermarkets in China in just seven days. Until recently this  would have been impossible. The milk would have exceeded its shelf life by the  time it travelled from Australia and cleared Chinese customs and quarantine.

With Australian dairy on the rise, our Kiwi friends in…

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Duxton’s Agri Bits and Pieces Vol. 187

QUOTE OF THE WEEK

Peter Walsh, co-owner of V & V Walsh’s Bunbury abattoir, commented on the recent joint venture with one of China’s largest red meat importers, Grand Farm Group.

“We have had our mining boom and the next big boom is going to be agriculture. The farmers have missed out for too long. Not anymore. We need to get people encouraged to get stocked up. We are going to see a resurgence in farming.”

http://goo.gl/zeQzJ1

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CHINA’S SOVEREIGN FUND BULLISH ON AGRICULTURE

China’s $650 billion sovereign wealth fund is shifting its focus to invest in agriculture and global food supplies in a significant strategic move that reflects the priorities of the country’s new leadership.

Ding Xuedong, chairman of China Investment Corp (CIC), said the country’s sovereign wealth fund wants to invest more in agriculture around the world and “across the entire value chain”.

“CIC mostly makes big investments, so we need to diversify. We don’t favour any particular sector, but our selection is based purely on financial returns. Going forward, we might increase our investment in agriculture and food,”…

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Vietnam Update – June , 2014

ECONOMIC UPDATE

Economic indicators in May continued to indicate strong fundamentals of Vietnam’s economy.

HSBC released the Purchasing Manager Index (PMI) of 52.5 in May 2014. Although being slightly down from April’s record high of 53.1, it still reflected an increased manufacturing production as companies benefited from an improvement in new orders. Meanwhile, the General Statistics Office of Vietnam (GSO) also reported an increase of 5.6% YoY in Industrial Production Index for the first five months of 2014, higher than 5.2% YoY growth of the same period last year.

The Consumer Price Index slightly rose 0.2% MoM or 4.72% YoY in May, driven by increasing prices of housing, construction materials and transportation1 . This slow growth of CPI was attributed to stable prices of necessities and abundant food supply in the world market amid low domestic demand, according to GSO2 .

Trade balance in the first four months of 2014 has been revised to show a surplus of USD 2.05 billion instead of USD 683 million announced earlier4. Though a trade deficit of USD 400 million has been estimated for May, year-to-date…

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