World wheat flour trade in 2018-19 dropped 1 million tonnes from the previous quarter’s estimate and is now 4% lower than last year, according to the International Grains Council (IGC).
Trade is now estimated at 16.1 million tonnes, down from 17.1 million tonnes in November 2018 and also down from 16.8 million tonnes for 2017-18.
A no-deal Brexit could lead to tariffs of 40% or more being imposed on food such as beef and cheddar cheese, driving up prices in shops and squeezing household budgets across the UK and Ireland, retail organisations from both countries have warned.
In recent years, agribusiness analysts have predicted that agricultural commodities could become “the new oil” in Africa, a continent with a booming population, a growing economy with potential for even greater expansion, and 60% of the world’s uncultivated arable land. This all adds up to an incredible opportunity.
Africa has been a fast-growing grain import market for more than a decade, and not just because its population is mushrooming. Take wheat, for example.
Things are not looking good for the U.S. farm economy.
The Zimbabwean government is likely to give back some land to white farmers, after a land audit is set to be completed in March.
