Archive for 2011

NEW YORK, NEW YORK, U.S. — The United Nation’s Food and Agriculture Organization’s (FAO) Food Price Index hit a new record high in February, driven mostly by higher prices of cereals, meat and dairy products, the agency said on March 2.

The index rose for the eighth consecutive month, averaging 236 points in February, up 2.2% from January and the highest since January 1990, when the index started.

With the exception of sugar, prices of all other commodity groups monitored registered gains ...

TAMBOV, RUSSIA — According to news reports, First Deputy Prime Viktor Zubkov said on March 2 that Russia may extend its ban on grain exports scheduled to expire at the end of June for the rest of this year.

No decision has been made yet, he told reporters in the central Russian city of Tambov. The government will look at considerations including having “good carry-over stocks to be able to have a grain intervention fund again” before deciding on the measure, ...

WINNIPEG, MANITOBA, CANADA — The Canadian Grain Commission (CGC) announced on March 2 that the maximum shrinkage allowance is fixed at zero at licensed process and transfer elevators effective March 19. This means that licensed process and transfer elevators may not make a shrinkage deduction from deliveries of grain.

“This change is good news for Canadian grain producers,” said Chief Commissioner Elwin Hermanson. “They can now expect consistent deductions when they deliver their grain to any type of elevator licensed by ...