DIRS.INFO The most relevant business & tech news

Russia, whose officials haven't commented on the corridor, warned this summer that ships heading to Ukraine's Black Sea ports would be assumed to be carrying weapons. Despite such attacks, Ukraine has exported over 5.6 million metric tons of grain and other products through the new corridor, U.S. “That corridor worked in an unpredictable way for us,” said Mykola Horbachov, president of the Ukrainian Grain Association. Before the invasion, the exporter paid $50 per metric ton to ship grain through the Black Sea. To ease that hurdle, an insurance program launched this month to provide affordable coverage to shippers carrying food from Ukraine’s Black Sea ports.

Persons: Roman Andreikiv, ”, Munro Anderson, Lloyd’s, Ukraine’s, haven't, Volodymyr Zelenskyy, Ukraine Bridget Brink, Taras Kachka, it’s, Kelly Goughary, “, Oleksandr Kubrakov, it's, Mykola Horbachov, ” Horbachov, Osmachko, Anderson, ” Osmachko, Marsh McLennan, Zelenskyy, Mykola Solskyi, ___ Bonnell Organizations: —, Agroprosperis, Liberian, Gro Intelligence, Farmers, Ukrainian Grain Association, Ukrainian Locations: KYIV, Ukraine, Russia, Africa, East, Asia, Egypt, Spain, China, Bangladesh, Netherlands, Tunisia, Turkey, Kyiv, U.S, Sumy, Ukrainian, Europe, Lloyd’s, Nigeria, London, russia, ukraine

☆ Why apple prices plunged in October
▼ + stars: | 2023-11-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

But apple prices plunged 7.9%. A Goldilocks year for applesIn general, apple prices dip in the fall, because that’s when they’re harvested and flood the market. An apple orchard near Leavenworth, Washington state. “We have a lot of volume, but I don’t know if we’re gonna be making any money this year.”Though gas prices have fallen, apple farmers have other rising costs, including labor. To cope with rising costs and improve sustainability, many farmers have been making adjustments to how they operate, said Todd Fryhover, president of the Washington Apple Commission, which promotes the state’s apple industry.

Persons: it’s, ”, Chris Gerlach, ” Gerlach, “, Jon DeVaney, Gerlach, Lynsee Gibbons, we’ve, Association’s DeVaney, …, Craig Campbell, Campbell, DeVaney, “ I’ve, Jonathan Haines, Todd Fryhover, “ We’re, “ They’re Organizations: New, New York CNN, Bureau of Labor Statistics, US Apple Association, Gro Intelligence, Tree Fruit Association, USDA, “, ” Farmers, Harmony Orchards, Washington Apple Commission Locations: New York, United States, India, Leavenworth , Washington, Washington, Turkey, Iran, Ukraine, Russia, East, South Asia, Yakima, Wenatchee

☆ For the second Halloween in a row, U.S. candy inflation hits double digits
▼ + stars: | 2023-10-28 | by ( ) www.cnbc.com time to read: +3 min

For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. That's on top of a 14% increase in candy and gum prices in October 2022. "The price of candy has gotten to be outrageous," said Jessica Weathers, a small business owner in Shiloh, Illinois. Weathers said she usually buys plenty of candy for trick-or-treaters and events at school and church. Meanwhile, global sugar prices are at 12-year highs, Goughary said.

Persons: Jessica Weathers, Weathers, Dan Sadler, Kelly Goughary, Goughary, —, Michele Buck, Buck, Hershey Organizations: Gro Intelligence, Aldi, Hershey Locations: Shiloh , Illinois, West Africa, El, Ivory, India, Brazil

For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. That’s on top of a 14% increase in candy and gum prices in October 2022. “The price of candy has gotten to be outrageous,” said Jessica Weathers, a small business owner in Shiloh, Illinois. Meanwhile, global sugar prices are at 12-year highs, Goughary said. Buck said Hershey is trying to meet consumers’ needs with offerings in value stores and pack sizes at various price points.

Persons: ”, Jessica Weathers, ” Weathers, Dan Sadler, Kelly Goughary, Goughary, —, Michele Buck, Buck, Hershey Organizations: Gro Intelligence, Aldi, Mars Inc, Hershey Co Locations: Shiloh , Illinois, West Africa, El, Ivory, India, Brazil

☆ Beef prices are at record highs — how much pricier will your steak get?
▼ + stars: | 2023-10-25 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Retail beef prices in the U.S. are at record highs, pushing up prices of beef-based products from burgers to steaks and steak tartare. Retail beef prices are currently hovering around record levels of about $8 per pound, according to data from the United States Department of Agriculture (USDA). "All consumers will be paying more for all beef products for several more years," Wells Fargo's Chief Agricultural Economist Michael Swanson told CNBC via email. "As cattlemen retain cows to rebuild the herd, there is a much lower supply of cattle to provide beef," Swanson said. With elevated cow slaughter, has come tighter cattle supplies, and an expectation that domestic cattle supplies will remain tight into the future.

Persons: That's, Wells, Michael Swanson, Swanson, Brandon Bell, Brian Earnest, Adam Speck, Speck Organizations: Portland Press Herald, Getty, CNBC, United States Department of Agriculture, USDA, Gro Locations: U.S, Texas, Kansas, Quemado , Texas, Gro Intelligence's

☆ Cocoa farmers face mounting challenges as El Nino rages on
▼ + stars: | 2023-10-10 | by ( Quek Jie Ann | ) www.cnbc.com time to read: +7 min

Frequent extreme weather events caused by El Nino and climate change hurts cocoa production. According to the the latest El Nino-Southern Oscillation Outlook, El Nino is expected to last through January to March 2024, with a 71% chance it will intensify from November to January. An intensified and frequent El Nino effect could significantly reduce the amount of arable land for cocoa cultivation. watch nowAccording to a report by the Economist Intelligence Unit, a high intensity El Nino may result in severe economic disruption across Africa. The financial cost of El Nino and climate change remains unquantified for Cote d'Ivoire and Ghana.

Persons: Cristina Aldehuela, El, El Nino, Nino, Jonathan Haines, it's, Kerry Daroci, Daroci, That's, Steffany Bermudez, Bermudez Organizations: Afp, Getty, El, El Nino, Southern Oscillation, Gro Intelligence, CNBC, Cocoa, Rainforest Alliance, International Cocoa Organization ., West Africa's Cote d'Ivoire, National Oceanic, Atmospheric Administration, Economist Intelligence Unit, Cote d'Ivoire, West, Rainforest, International Cocoa Organization, Environmental Protection Agency, International Institute for Sustainable Development Locations: Asikasu, Ghana, El Nino, West, West Africa, Kerry, Brazil, Ecuador, International Cocoa Organization . Asia, Pacific, Indonesia, Papua New Guinea, West Africa's Cote, Ivory, Ivory Coast, Africa, London, New York

☆ Record chicken prices squeeze US shoppers, benefit Tyson Foods
▼ + stars: | 2023-10-05 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim's Pride (PPC.O), but will pinch consumers' pockets as they try to save money by turning away from higher-end proteins. Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic. The U.S. government last month trimmed its estimate for 2023 chicken production from August due in part to expectations for lower chick placements. "We've seen some recovery in chicken prices and we've seen some consumer prices start to level off," Tyson CFO John R. Tyson told investors last month. Further increases in chicken prices could threaten demand, said Adam Speck, senior commodity analyst for Gro Intelligence.

Persons: Lucas Jackson, Tyson, Bob Brown, Brown, Donnie King, Arun Sundaram, Sundaram, We've, John R, Adam Speck, Bill Densmore, Tom Polansek, Caroline Stauffer, David Gregorio Our Organizations: New York U.S, REUTERS, Rights, Tyson Foods, U.S . Department of Agriculture, Rabobank, Producers, CFRA Research, Gro Intelligence, Fitch, Thomson Locations: Brooklyn, New, Arkansas, U.S, freezers ., Wilkesboro , North Carolina, Great

☆ Global food prices bounce following collapse of Black Sea grain deal
▼ + stars: | 2023-08-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Global food prices ticked up last month after Russia pulled out of a deal to allow the safe passage of ships carrying grain from Ukrainian ports. The United Nations’ Food and Agricultural Organization (FAO) said Friday that its global Food Price Index rose 1.3% in July compared with the month before — notching only the second increase in a year of steady declines since the grain deal was struck. “International sunflower oil prices rebounded by more than 15% month-on-month, primarily underpinned by renewed uncertainties surrounding the exportable supplies out of the Black Sea region,” the FAO said in a statement. The FAO’s global wheat price index — which feeds into its broader Food Price Index — jumped 1.6% in July from the month before, its first monthly increase in nine months. Russian attacks on Ukrainian port infrastructure since the grain deal’s collapse have also bumped up prices in recent weeks.

Persons: Vladimir Putin, —, ” Putin, Shashwat Organizations: London CNN — Global, United Nations, Food, Agricultural Organization, FAO, —, UN, Organisation for Economic Co, Development, Gro Intelligence, East, International Rescue Locations: Russia, Russian, Somalia, Eritrea, Ukraine, Asia, North America, East, East Africa

☆ How the Black Sea grain deal collapse could impact global food prices and hunger
▼ + stars: | 2023-07-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —Wheat and corn prices on global commodities markets jumped Monday after Russia pulled out of a crucial deal allowing the export of grain from Ukraine. The collapse of the pact threatens to push up food prices for consumers worldwide and tip millions into hunger. The White House said the deal had been “critical” to bringing down food prices around the globe, which spiked after Russia invaded Ukraine in February last year. Food pricesThe global food price index complied by the UN’s Food and Agriculture Organization hit an all-time high in March 2022, but has fallen steadily since then. “A renewed rise in agricultural commodity prices would obviously push up retail food prices but perhaps not by as much as you think, particularly in developed economies,” she said.

Persons: “, ” Adam Hodge, —, Vladimir Putin, General Antonio Guterres, Shashwat, ” Saraf, Richer, Caroline Bain, ”, Rob Picheta, Hanna Ziady, Mick Krever, Anna Chernova, Priscilla Alvarez Organizations: London CNN —, US National Security Council, Chicago Board of Trade, United Nations, Organisation for Economic Co, Development, Gro Intelligence, Food Security Information Network, European Union, Rescue, East, Agriculture Organization, Capital Economics, CNN Locations: Russia, Ukraine, Turkey, Istanbul, Kyiv, Moscow, United States, Sevastopol, Russian, Crimea, East Africa, East, Africa

☆ Cocoa prices are soaring. Here’s what that means for your chocolate
▼ + stars: | 2023-06-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —If you have a sweet tooth, take note: Cocoa prices have been soaring — and that could drive chocolate prices higher. Because of that, there is an “outsize impact of the region’s weather patterns on world cocoa prices and supplies,” according to Gro Intelligence’s post. Tony's Chocolonely welcomes higher cocoa prices. Petra Figueroa/SOPA Images/LightRocket/Getty Images“We are very happy that cocoa prices are rising,” said Pascal Baltussen, chief of impact and operations at Tony’s. “Cocoa prices have been way too low for West African cocoa farmers to earn a living income.”Cocoa futures are used to determine the prices paid to farmers for cocoa in Ivory Coast and Ghana.

Persons: El, Paul, Christophe Gateau, Niño, ”, Intelligence’s, Tony's Chocolonely, Petra Figueroa, Pascal Baltussen, Alex Assanvo, Côte, “ Price, Tony’s, Baltussen, Steven Voskuil, Hershey, “, we’ll, —, Laura Paddison, Rachel Ramirez Organizations: New, New York CNN, Rabobank, International Cocoa, Getty, Cocoa Organization, Gro Intelligence, Hershey Locations: New York, Europe, Asia, Agboville, Ivory Coast, Ghana, Cameroon, Nigeria, Amsterdam, Tony’s, NIQ

☆ Risks the global economy still faces as threat of US debt default recedes
▼ + stars: | 2023-06-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

London CNN —With the threat of an unprecedented US debt crisis receding fast, the global economy looks to have dodged a huge shock. While an immediate crisis has likely been avoided, the litany of problems that had been temporarily overshadowed by the specter of a US default — among them, high inflation, rising interest rates and sluggish growth — haven’t gone away. Bloomberg/Getty ImagesInflation still too highAgainst that backdrop, inflation has eased in Europe’s second biggest economy, mimicking falls in Germany, Spain and Italy. But it could still arise from two longstanding threats: the Ukraine war and the climate crisis, both of which pose risks to global supply chains and food prices. The war helped drive international food prices to an all-time high last year.

Persons: specter, haven’t, ”, Carsten Brzeski, “, Charlotte de, Neil Shearing, Vladimir Putin, Michael Bociurkiw, Bociurkiw, Marcelo del Pozo Organizations: London CNN —, ING, Charlotte de Montpellier, Bloomberg, Getty, Data, United, Deutsche Bank, Capital Economics, Atlantic Council, Isla Mayor, ” Gro Intelligence Locations: United States, China, Germany, France, Beijing, Europe’s, Spain, Italy, United Kingdom, Ukraine, Moscow, Russian, Russia, Isla, Europe

☆ After Russia-Ukraine grain deal extended, global wheat prices fall
▼ + stars: | 2023-05-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Global wheat prices fell Thursday after Ukraine and Russia agreed to extend a deal allowing grain to be exported from Ukrainian ports in the Black Sea. “These agreements matter for global food security,” António Guterres, secretary general of the United Nations, told journalists Wednesday. “Ukrainian and Russian products feed the world.”The grain deal, first signed in July, was due to expire on Thursday, but Turkish and Ukrainian officials said on Wednesday that it would be extended for another two months. Ukraine and Russia together account for nearly a third of global wheat exports, according to Gro Intelligence, an agricultural data firm. In the days after the invasion, global wheat prices skyrocketed, with the UN’s Food and Agriculture Organization warning that as many as 47 million people could be pushed into “acute food insecurity” because of the war.

☆ Global rice shortage is set to be the largest in 20 years – here's why
▼ + stars: | 2023-04-19 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

The global rice market is set to log its largest shortfall in two decades in 2023, according to Fitch Solutions. "At the global level, the most evident impact of the global rice deficit has been, and still is, decade-high rice prices," Fitch Solutions' commodities analyst Charles Hart said. That would mar the largest global rice deficit since 2003/2004, when the global rice markets generated a deficit of 18.6 million tonnes, said Hart. "The global rice production deficit situation will increase the cost of importing rice for major rice importers such as Indonesia, Philippines, Malaysia and African countries in 2023," said Tjakra. "It is our view that global rice production will stage a solid rebound in 2023/24, expecting total output to rise by 2.5% year on year," Fitch's report forecast, hinging on India being a "principal engine" of global rice output over the next five years.

☆ The beef supply is shrinking. That means meat isn't going to get much cheaper
▼ + stars: | 2023-04-05 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

A contraction in beef supplies “has been coming for a while,” said David Anderson, a professor in Texas A&M University’s agricultural economics department. Beef supplies are shrinking after farmers sold off cattle in response to drought and high costs. The “big unknown is going to be consumer demand.”The beef supply tends to grow and shrink in roughly 10-year cycles, said Lance Zimmerman, senior beef analyst for the North American market with Rabobank. “If that’s the case, beef prices may be steadier.”And with food inflation stubbornly high, consumers are already cutting back on certain items, including beef. If demand remains strong, “we may see some higher beef prices,” towards the fall and later, Bernt said.

☆ Russia’s war in Ukraine sparked a historic food crisis. It’s not over
▼ + stars: | 2023-01-15 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

“All the major causes of the food crisis are still with us — conflict, Covid, climate change, high fuel prices,” Cary Fowler, the US special envoy for global food security, told CNN. But high food prices mean that funding can’t go as far, and Russia’s war continues to generate volatility. “The Ukraine crisis has had this ongoing negative impact on world food prices and [added] even more volatility,” said Abby Maxman, CEO of Oxfam America. Russia “is not assisting in alleviating the food crisis in slowing down the grain inspections,” Fowler said. Oxfam’s Maxman, who traveled there in September, said disruptions to food supplies were obvious in markets.

☆ Chicken prices are finally starting to fall
▼ + stars: | 2022-11-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN Business —Over the past year, as some meat prices have fallen, chicken prices have remained stubbornly high. In the year through October, not adjusting for seasonal swings, chicken prices had jumped 14.5%, according to data from the Bureau of Labor Statistics. Chicken prices are finally falling. Why chicken prices were highBut the roosters don’t bear all the blame. Still, a decline in wholesale prices eventually leads to a decline in retail prices, which is starting to happen.

☆ Grain deal: Wheat and corn prices rise as Russia withdraws
▼ + stars: | 2022-10-31 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

Ukraine and Russia together account for nearly a third of global wheat exports, according to Gro Intelligence, an agricultural data firm. Russia suspended its participation in the grain deal indefinitely on Saturday, after what it claimed was a drone attack by Ukrainian armed forces on its Black Sea fleet in the Crimean city of Sevastopol. After reaching a record high in March, the UN Food and Agriculture Organization’s global food price index has declined for seven months in a row. Russia’s decision to suspend its participation “is adding immense volatility to global grain prices,” said Tracey Allen, an agricultural commodities strategist at JPMorgan Chase. Twelve vessels left Ukraine’s Black Sea ports on Monday, Ukraine’s Minister of Infrastructure Oleksandr Kubrakov said on Twitter.

Search resuls for: "Gro Intelligence"

17 mentions found