Argentina Devalues Peso By 26.5%, Grains Farmer Gets Benefitted
Argentina local currency Peso has plunged 26.5 percent with govt’s free market reforms being underway.Govt wants to revitalize the stagnant economy.It was the sharpest one-day devaluation in decades.Farmers have benefitted much with this decision.Farmers in Pampas grain belt will start getting paid in stronger U.S. export dollars, while average consumers risk seeing their purchasing power fall.Large devaluations tend to be pretty disruptive and negative for gross domestic product in the short-term, but much more helpful in the long-term
FSG Revises EU Soft Wheat Export Forecast Up By 0.8MMT To 27.6 MMT
French consultancy Strategie Grains has revised its forecast up for EU soft wheat exports this season in view of improved competitiveness on world markets and evidence of more buoyant exports, particularly from France. EU soft wheat shipments may reach at 27.6 million tonnes, 800,000 tonnes above last month’s estimate but still sharply lower than
the 32.5 million exported last season.
India Gets Lower Coffee Exports Revenue By 4.46% In November 2015-DGCIS
As per DGCIS latest report, India received around Rs.306.63 crore as the total coffee exports revenue which is 46.38 million in USD in October 2015. This is lower by 4.46 % in Rs. and 10.82% in USD respectively as against Rs.320.94 crore and USD 52.01 million respectively in the corresponding month of previous year. It stood at Rs. 3294.41 crore and the value in USD at 511.97 million since April-2014 to November 2015 up by 3.86% in Rs. however down by 2.51% in USD as against the last year revenue i.e. Rs.3171.94 crore and in USD 525.15 million in corresponding period of time.
India Will Produce 350,000 Tonnes Of Coffee Beans In 2015/16
As per the state- run Coffee Board, India may harvest total 350,000 tonnes of beans in 2015/16 with a decline of 1.6% from the previous estimates followed by 107800 tonnes of Arabica and 24200 tonnes of Robusta in the 2015/16 marketing year which started from 1st October 2015 on account of recent heavy rainfall. India exports three-quarters of its production. Italy, Germany and Belgium are the main buyers of India’s crop. However, the production estimates is placed higher by 7% against last year records harvesting i.e. 327000 tonnes due to ample rainfall in coffee growing areas in India.