FARMING NEWS

Chinese buyers may default on further €650m soybean cargo to avoid losses

Chinese buyers may default on a further 1.2 million metric tons (1.32 million tons) of soybeans worth about $900m (€650m) being shipped from the US and South America, to avoid incurring huge losses in a depressed local market, the country’s top soy buyer said.

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EU ‘will be No 1 driver of global sugar beef prices’ when quota ends

The European Union will become the number one driver of global sugar beet prices once the quota era comes to an end, according to UK investment brokerage Marex Spectron.

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Agriculture Minister Simon Coveney, left,  at the talks with from left, Eddie Downey, IFA president; Pat Smith, IFA general secretary; and Michael Biggins, IFA.  Picture: Maxwells

Beef farmers and meat factories to work closely on price following talks

Beef farmers and meat factories have agreed to meet on a quarterly basis and to monitor prices via a ‘Beef Pricewatch’ online tool.

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Salvage guidelines help farmers minimise losses after Storm Darwin

Farmers minimised their losses from storm damage by following salvage guidelines, Teagasc said.

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Irish Dairy Board gearing up for post-quota opportunities

The Irish Dairy Board’s accounts for 2013 show a company gearing up for the growth opportunity presented by the post-quota era.

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Group records growth across global businesses

Carbery Group has had solid growth across its global food ingredients, flavours, and dairy businesses, with pre-tax profits for 2013 up 23% to €13m and turnover up 11.9% to €318.3m.

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Kelly seeks beef market probe over possible breach of competition rules

Sean Kelly has called upon the European Parliament to investigate the Irish-UK beef market for a possible breach of EU competition rules.

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Dairy division sales dip impacts on Danone as growth slows

French food group Danone has reported a slowdown in first-quarter sales growth as sales volumes at its core dairy division were hit by the company passing on higher milk prices and sales in the baby food business also fell, though less sharply than feared.

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Kernel Capital invests €900k in Clare food diagnostic company AltraTech

The Cork-based investment firm Kernel Capital is leading a €900,000 investment drive in Shannon-based food diagnostics firm, AltraTech.

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New Forest Owners Co-op for private land

A forest-management plan to cover thousands of hectares of privately owned plantations across the south of Ireland is the aim of the Forest Owners Co-op, which will be launched in Macroom on Friday, May 9.

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