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- Data shows that China’s soybean imports from Brazil in April decreased by 16% compared to the same period last year, with the quantity imported from this South American country lagging far behind last year’s level due to delayed harvests. China imported 5.3 million tons of soybeans from Brazil in April, compared to 6.3 million tons during the same period last year.
- The Group of Seven (G7) states in a statement called on all parties involved in the Black Sea grain shipping agreement to “continue and fully implement the pact to its fullest potential when needed.”
- Data released by Ukraine’s Ministry of Agriculture showed that as of May 18th, the country had completed 86% of its spring grain sowing for 2023, covering 4.7 million hectares.
- Agricultural consulting company Sovecon has raised its estimate for Russia’s 2023 wheat production to 88 million tons, up from its previous estimate of 86.8 million tons.
- Interfax news agency cited Russian Agriculture Minister Dmitry Patrushev as saying that the base price used to calculate export duties on Russian wheat will be increased from 15,000 rubles per ton to 17,000 rubles (US$218.73) per ton.
- Oksana Lut, Deputy Minister of Agriculture of the Russian Federation, said that Russia plans to produce an average of around 130 million tons of grain annually, with exports reaching a maximum of 55 million tons per year.
- Argentina’s Ministry of Agriculture, Livestock, and Fisheries (MAGYP) has lowered its estimate for the country’s soybean production by 2.2 million tons to 25.5 million tons, while its corn production forecast has been revised down to 41 million tons.
- Analysis of customs and port vessel queue data by agricultural analysis website “AgriCensus” showed that by early May, Argentina’s soybean imports from Brazil will exceed 800,000 tons, exceeding the total import volume of 657,000 tons in 2018 and the highest import volume in the past 10 years.
- Consulting firm Safras & Mercado expects Brazil’s soybean production for the 2022/2023 season to be 155.66 million tons, up from its previous estimate of 155.08 million tons.
- Datuk Seri Salahuddin Ayub, Malaysia’s Minister of Domestic Trade and Consumer Affairs, said that sugar supply is still under control and has not plunged into a “crisis”.
