The price of bread rose by almost a fifth in the European Union in August as Russia’s invasion of Ukraine, both major exporters of grains and fertilisers, continued to disrupt global markets and headline inflation accelerated.
In its fourth forecast for the 2022 crop, grain industry group COCERAL sees the total grain crop in the EU-27+UK at 287.9 million tons. This would be down significantly from the 309.8 million tons harvested in 2021.
Louis Dreyfus Company Asia Pte. Ltd.(LDC) and Longriver Farms announced that the companies have entered into an agreement for the acquisition of Emerald Grain Pty. Ltd. (Emerald Grain) by LDC.
Since the first vessel sailed under the Istanbul grain export deal on Aug. 1, more than 200 ships have carried over 4 million tons of agricultural products through the grain corridor.
The disputes arising from the drought can be very controversial. Quite often, it is challenging to draw a clear red line between what can be considered a force majeure under the GAFTA contract and what is not. In these circumstances, it is advisable to create a tailor-made solution in your contracts by adapting the force majeure clause to the possible effects of drought in Europe.
“If growth in average yields matches recent trends, and assuming normal weather, global grain produ...
Prof. Dr. Mustafa BAYRAM
Editor-in-Chief of Peer-reviewed articles section-Miller Journal
"We expect price fluctuations in foreign markets will continue because of the c...
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