Canada – levy increase
Canadian beef farmers have agreed a levy (known as check-off) increase of CAD$1.50 (€1.00) per head on cattle, bringing the total to CAD$7.00 (€4.66).
China – profit warning
Mengniu Dairy, the world’s eighth-largest dairy processor according to Rabobank, has issued a profit warning for the past year, blaming a surplus of milk in the domestic market (DCA).
Russia – wheat exports
The forecast for Russia’s wheat exports this season has been reduced by 600,000 tonnes to 42.2m tonnes, with February shipments at 2m tonnes - less than half of February 2024.
Argentina – beef exports fall
Argentina’s beef exports fell to 46,200 tonnes in January, over 25% lower than January 2024 and the lowest since January 2022 (WBR).
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