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Ruined rice crops in India's Haryana state. More than three billion people worldwide rely on rice as a staple food and India contributed to about 40% of global rice exports. India's rice stock is piling up as a result of the ban. Vijay Bedi/CNNAt one of New Delhi’s largest rice trading hubs, there are fears among traders that the export ban will cause catastrophic consequences. “The export ban has left traders with huge amounts of stock,” said rice trader Roopkaran Singh.

Persons: India CNN — Satish Kumar, “ I’ve, ”, Kumar, Vijay Bedi, Niño, ” Kumar, ” Satish Kumar, Ukraine —, ” Arif Husain, Pierre, Olivier Gourinchas, ” Husain, “, CNN Surjit Singh, Harayana, …, El Niño, Roopkaran Singh, Husain Organizations: India CNN, CNN, United Nations Food, Agriculture Organization, India wasn’t, United Nations, Food Programme, ” Workers, Thai Rice, Association, India’s Ministry of Agriculture, Monetary Fund, Farmers, Reuters, Meteorological Organization Locations: Harayana, India, India’s Haryana, “, India's Haryana, Ukraine, Global South, United States, Russia, Rice, New Delhi, CNN Nepal, Vietnam, Thailand, Thai, Singapore, Indonesia, Philippines, El, India’s, West Africa

Revenue from beekeeping will reach $624 billion this year in the United States alone, reports IBISWorld, a market research firm. While techniques for nurturing hives have improved, honey bees remain vulnerable animals. As of a few years ago, nearly 30 percent of commercial honey bees still did not survive the winter months, says the Environmental Protection Agency. That’s a large number and one that puts a financial strain on commercial beekeepers. There are more than 20,000 species of wild bees in the world, and many people don’t realize they exist.

Persons: Honey, Black, It’s, IBISWorld, ” Mr Organizations: Environmental Protection Agency, Food and Agriculture Organization, Nations Locations: United States, California, That’s

☆ Global rice prices surge close to 12-year highs, and could rise even more
▼ + stars: | 2023-08-10 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Rice trader displays variety of rice samples at a wholesale store, in Guwahati, Assam, India on August 2, 2023. Rice prices surged to their highest in almost 12 years on the back of India's rice export ban and adverse weather conditions that could impact production, said the United Nations' food agency. The Food and Agriculture Organization All Rice Price Index for July rose by 2.8% to 129.7 points. El Nino is a climate phenomenon marked by extreme temperatures and weather conditions that could interrupt lives and livelihoods. 20, as the government seeks to keep a cap on soaring food prices at home, and ensure there are enough supplies domestically "at reasonable prices."

Persons: Rice, El Nino Organizations: United Nations, Agriculture, Rice, Index, FAO, El Nino Locations: Guwahati, Assam, India, United, Thailand, El

☆ CNBC Daily Open: Inflation, earnings and the American consumer
▼ + stars: | 2023-08-10 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hong Kong's Hang Seng Index dropped 0.95%, while mainland Chinese indexes extended their losses. Markets are waiting for Thursday's July consumer price index report, which will likely show that the pace of price increases is easing — but not enough to get the Federal Reserve to retreat on its inflation fight. The Food and Agriculture Organization All Rice Price Index for July rose 19.7% from a year ago to its highest nominal value since September 2011.

Persons: Hong, Joe Biden's Organizations: CNBC, Nikkei, Dow Jones, Nasdaq, Federal Reserve, Ministry, Disney, Wall, United Nations, Agriculture, Rice, Index Locations: China, —, Beijing, China , Hong Kong, Macao, Panama, United, Thailand

☆ Top economist Paul Krugman says food inflation has mostly been caused by Russia
▼ + stars: | 2023-08-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Food inflation has mostly been brought on by Russia, top economist Paul Krugman said. The Nobel laureate pointed to accelerating food prices over the past year, with the Food and Agriculture Organization's Food Price Index rising to 123.9 in July. But the primary driver of "foodflation" exists outside of the US -- and lies largely in the hands of Russia, Krugman argues. Russia's invasion of Ukraine also spiked fertilizer prices, as the nation is one of the world's largest exporter of fertilizer. Still, Russia's impact is still "at the top of the list" for culprits driving food inflation.

Persons: Paul Krugman, Vladimir Putin, Krugman, Biden, That's, Putin Organizations: Service, Soaring, Food, Agriculture, That's, Observers, Cleveland Fed Locations: Russia, Ukraine, Wall, Silicon, Kazakhstan, Odesa, Europe

☆ Oil and food prices are rising, and so are wages. Inflation isn’t beaten yet
▼ + stars: | 2023-08-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

Oil and food prices have jumped in recent weeks, and wages are still growing strongly in some of the world’s biggest economies. The UN global Food Price Index rose in July, notching only the second monthly increase in a year of steady declines. Oil supply cutsGlobal oil prices have shot up in recent weeks. The International Energy Agency has forecast that global oil demand will rise to a record 102 million barrels this year. Rising oil prices have spurred a jump in US gasoline prices, which hit an average of $3.82 a gallon Tuesday.

Persons: ” Randall Kroszner, “, Price, Chris Ratcliffe, Richard Bronze, ”, —, unraveled, ” Kroszner, — “, Michelle Bowman Organizations: London CNN, US Federal Reserve, European Central Bank, US Federal Reserve System, University of Chicago Booth School of Business, CNN, UN, Bloomberg, Getty, West Texas Intermediate, International Energy Agency, OPEC, Agriculture Organization, United Nations, Capital Economics, “ Labor, Bank Locations: Ukraine, United States, United Kingdom, Brent, Saudi Arabia, Russia, Moscow

☆ Italy earmarks 2.9 million euros to tackle blue crab invasion
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

A view shows blue crabs that hit the shores of Porto Tolle, Italy, in this recent undated handout image received by Reuters. Fishermen's Cooperative Of Polesine/Handout via REUTERS/File photoROME, Aug 7 (Reuters) - Italy's government has earmarked 2.9 million euros ($3.2 million) to tackle the spread of a particularly aggressive crab species that is threatening the country's role as one of the world's top producers of clams. The "blue crab", originating from the western Atlantic, has spread across several lagoon-like locations in Italy, preying on local shellfish, fish roe and other aquatic life, to despair of the clams aquafarm industry. According to a draft seen by Reuters, the 2.9 million euros will be given to fishing cooperatives and aquafarmers who are trying to curb blue crab numbers with a large-scale fishing campaign. It is also home to "spaghetti alle vongole" (spaghetti with clams), a classic of Italian cuisine.

Persons: Francesco Lollobrigida, Emanuele Rossetti, Alvise Armellini, Angelo Amante, Conor Humphries Organizations: Reuters . Fishermen's, REUTERS, Agriculture, Sunday, Reuters, Fishermen's Cooperative, Agriculture Organization, Thomson Locations: Porto Tolle, Italy, Handout, ROME, China, South Korea, Food

☆ What Japanese potato chip maker Calbee learned from a potato shortage
▼ + stars: | 2023-08-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —What happens when Asia’s biggest potato chip maker runs out of potatoes? Pepsi (PEP) controls about 24% of the region’s potato chip market, while Calbee has about 12%, according to data from Euromonitor International. But the area was ravaged by drought in 2021, and the firm’s domestic potato supply fell by 8% and 14% in the 2021 and 2022 fiscal years, respectively. Calbee tried to make up for the shortfall by importing more from the United States, which normally accounts for the remaining 10% of its potato supply. “Staying available on shelves is essential, not just to compete with other potato chip brands but also with other types of snacks.”

Persons: ”, Makoto Ehara, Noriko Hayashi, Calbee, Ehara, it’s, Keiei Sho, Sho, Emil Fazira Organizations: Hong Kong CNN, CNN, Bloomberg, Getty, Pepsi, Euromonitor, United Nations, Food, Agriculture Organization, FAO, Walmart Locations: Hong Kong, Tokyo, Asia, Brazil, Ukraine, Japan, Hokkaido, United States, Pacific Northwest, ”, America, Europe, China, Indonesia, Asia Pacific

☆ World rice price index jumps to near 12-year high in July, UN food agency says
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Aug 4 (Reuters) - The United Nations food agency's rice price index rose 2.8% in July from a month ago to their highest level in nearly 12 years as prices in key exporting countries jumped on strong demand and India's move to curb the exports, the agency said on Friday. The Food and Agriculture Organization's (FAO) All Rice Price Index, which tracks prices in key exporting countries, averaged 129.7 points in July against 126.2 points for the previous month, the agency said. The July score was almost 20% higher than the last year's 108.4 points and the highest since September 2011, it said. The agency's overall world food price index also rose in July, rebounding from two-year lows. India, which accounts for 40% of world rice exports, last month ordered a halt to its largest rice export category to calm domestic prices, which climbed to multi-year highs in recent weeks as erratic weather threatens production.

Persons: Rice, Rajendra, Tomasz Janowski Organizations: United, Agriculture Organization's, Thomson Locations: MUMBAI, United Nations, India, Thailand, Vietnam, Cambodia, Pakistan, China, Philippines, Benin, Senegal, Nigeria, Malaysia

The change drew the ire of several P&G investors. Its new forestry policy could put it at odds with a European Union deforestation law coming into effect in about 18 months banning certain goods linked to deforestation and forest degradation. "Our ongoing efforts to keep forests as forests while continuing to serve consumers with superior-performing products, all of those efforts remain unchanged." In its new forestry policy, P&G, which also makes Tide detergent and Dawn dish soap, consolidates existing guidelines for paper packaging and palm oil, used throughout its portfolio of products. The NRDC late last year filed a complaint with the U.S. Securities and Exchange Commission (SEC) to evaluate if P&G's claims that it prohibits forest degradation were materially misleading investors.

Persons: Leslie Samuelrich, Jack McAneny, McAneny, Elrod, Gaurav Madan, Madan, Shelley Vinyard, Vinyard, Peter van der, Jessica DiNapoli, Aurora Ellis Organizations: YORK, Procter, Gamble, Green, Funds, Reuters, Commodities, United, Food, Agriculture Organization, BNP, Asset Management, Natural Resources Defense, BlackRock, Street, UBS, Legal, General, Natural Resources Defense Council, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Cincinnati, Latin America, Europe, Canada, U.S, Robeco, New York

☆ 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

CNN —Russia said Monday it was suspending its participation in a crucial deal that allowed the export of Ukrainian grain, once again raising fears over global food supplies and scuppering a rare diplomatic breakthrough to emerge from Moscow’s war in Ukraine. Peskov left the door open to reviving the deal in the future, saying that Russia will comply “as soon as the Russian part (of the deal) is completed.”A ship carries grain from Ukraine last week. Mehmet Emin Caliskan/ReutersUS Secretary of State Antony Blinken last week accused Russia of using the grain deal “as a weapon.”The deal allowed Ukraine to export grain from its Black Sea ports and and navigate safe passage through the waterway to Turkey’s Bosphorus Strait. It proved vital for stabilizing global food prices and bringing relief to the developing countries which rely on Ukrainian exports. There are alternative routes for Ukrainian grain and oilseed exports by rail through eastern Europe, but they can’t readily cope with the volume that Ukraine wants to export.

Persons: Dmitry Peskov, “, Peskov, ”, Vladimir Putin, Mehmet Emin Caliskan, Antony Blinken, Ukraine’s Organizations: CNN, United Nations, ”, Reuters, Food Programme, European Commission, Agriculture Organization, FAO, UN Locations: Russia, Ukraine, Turkey, Istanbul, Kyiv, Moscow, ” Russia, Russian, Crimea, Sevastopol, Europe

☆ Scientists are growing seeds in space to help adapt to climate change on Earth
▼ + stars: | 2023-07-14 | by ( Nadia Leigh-Hewitson | ) edition.cnn.com time to read: +5 min

Agriculture is extremely vulnerable to the impacts of changing climate conditions and although changes to temperature, rainfall patterns, and frost might extend a growing season or enable the cultivation of different crops, climate change also introduces major challenges for farming. Shoba Sivasankar examines sorghum seeds that spent around five months at the International Space Station . K. Laffan/IAEABy selectively breeding plants grown from the mutated seeds, Sivasankar and her team hope to create new crop strains. The private sector has also taken an interest in the impact of spaceflight on plant seeds. StarLab Oasis plans to grow seeds on external docking platforms at space stations, shown here in a rendering Nanoracks/Starlab OasisSending seeds to space will help “sustainability, climate change, and food security on Earth,” StarLab Oasis’ co-founder Allen Herbert told CNN in 2022.

Persons: Shoba Sivasankar, ”, “, StarLab, Allen Herbert Organizations: CNN, International Atomic Energy Agency, IAEA, Agriculture Organization, FAO, International Space, of, Food, Agriculture, Space, Michigan State University, MSU, United Arab Emirates, StarLab Oasis, Oasis Locations: China, Abu Dhabi

Aspartame is one of the world's most popular sweeteners, used in products from Coca-Cola diet sodas to Mars' Extra chewing gum. In its first declaration on the additive, announced early on Friday, the Lyon-based International Agency for Research on Cancer (IARC) said aspartame was a "possible carcinogen". Several scientists not associated with the reviews said the evidence linking aspartame to cancer is weak. There was also some limited evidence that aspartame has some chemical properties that are linked to cancer, the IARC said. Scientists with no links to the WHO reviews said the evidence that aspartame caused cancer was weak.

Persons: Francesco Branca, " Branca, JECFA, Branca, Mary Schubauer, Paul Pharaoh, Pharaoh, Kate Loatman, Frances Hunt, Wood, Richa Naidu, Caroline Humer, Catherine Evans Organizations: World Health Organization, WHO, Agency for Research, Cancer, Food, Agriculture Organization, FAO, Reuters, Cedars Sinai Medical Center, International Council of Beverage Associations, International, Thomson Locations: Lyon, Geneva, United States, Europe, Cedars, Los Angeles

Reuters reported last month that the cancer research arm of the World Health Organization (WHO), known as the International Agency for Research on Cancer (IARC), was set to make that declaration on July 14, according to two sources with knowledge of the process. The designation as "possibly carcinogenic to humans" will provide an incentive to fund more rigorous research into the safety question, toxicology and cancer experts say. "We have been pushing for an IARC review for many years now." But no action was taken until 2022, after aspartame was again nominated for review by CSPI and Melnick in 2019. The research body has said "new evidence" prompted its aspartame review, without giving any details.

Persons: Andy Smith, Smith, Coke, Peter Lurie, Lurie, James Huff, Ron Melnick, CSPI, There's, Samuel Cohen, Erik Millstone, Millstone, Jennifer Rigby, Michele Gershberg, Catherine Evans Organizations: Reuters, World Health Organization, WHO, International Agency for Research, Cancer, MRC, Unit, University of Cambridge, Cola's, Regulators, for Science, Joint Food and Agriculture Organization, U.S . National Institutes of Health, University of Nebraska Medical Center, University of Paris, Britain's University of Sussex, Thomson Locations: United States, U.S, France

☆ Rice to get costlier as weather, India's farm perks threaten supply
▼ + stars: | 2023-07-06 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +5 min

"As Indian prices moved up because of the new minimum support price, other suppliers also started raising prices." Yet even before the weather phenomenon can disrupt production, the global rice price index of the Food and Agriculture Organization hovers above an 11-year high. The price of Indian rice exports has jumped 9% to a five-year high, following a hike of 7% last month in the price the government pays farmers for new-season common rice. "Rice prices have already been rising due to limited supplies," added Olam's Gupta. Last month Indonesia signed a rare pact with India to import 1 million tons if El Nino disrupts domestic supply.

Persons: El Nino, Krishna Rao, REA, Rice, El, Nitin Gupta, Gupta, Rosa Wang, Narendra Modi's, Modi, Himanshu Agarwal, Rajendra Jadhav, Qin Ningwei, Tony Munroe, Clarence Fernandez Organizations: Rice, Association, Reuters, El, Food and Agriculture Organization, U.S . Department of Agriculture, El Nino, Reuters Graphics, Shanghai JC Intelligence, Narendra Modi's Bharatiya Janata Party, BJP, Satyam Balajee, Vietnam, Thomson Locations: MUMBAI, India, Ukraine, Asia, Bangladesh, China, Indonesia, Thailand, Vietnam, New Delhi, Singapore, Myanmar, Pakistan, Indian, Philippines

☆ The global food crisis is getting so bad that the EU now wants to reconnect a sanctioned Russian bank to the global financial system to keep the grain supply moving
▼ + stars: | 2023-07-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The EU wants to reconnect a sanctioned Russian bank to the global financial system. The bloc is trying to secure Putin's support to extend the Black Sea grain deal, which expires shortly. The concession wants to let the state-owned Russian Agricultural Bank handle payments related to grain exports. The news of the potential concession came just as Gennady Gatilov, Russia's envoy to the United Nations, told the pro-Kremlin Izvestia newspaper there are no grounds to maintain the "status quo" of the Black Sea grain deal. The European Commission and the Russian Agricultural Bank did not immediately respond to requests for comment from Insider.

Persons: —, SWIFT, Vladimir Putin's, Gennady Gatilov, Gatilov, Swift, Izvestia Organizations: Service, Financial Times, Russian Agricultural Bank, United Nations, Moscow, Kremlin Izvestia, UN Food and Agriculture Organization Food, European Commission Locations: Russian, Russia, Ukraine, Moscow

Several consumer industry trade bodies - whose members use aspartame - on Thursday rejected the IARC’s assessment. Shoppers can find aspartame in Weight Watchers yoghurts, some Snapple drinks and Conagra’s Mrs. Butterworth’s syrups. “Aspartame has been in use as an intense sweetener for more than 30 years in the UK. In 2014 General Mills (GIS.N) swapped the aspartame in Yoplait Light for the sweetener widely known as Splenda. Sweeteners have varying levels of sweetness and price, and are different chemical compounds, making it difficult to simply swap ingredients.

Persons: Health Organization's, Garrett Nelson, Butterworth’s, ” Nelson, ” Tom Sanders, Mills, Richa Naidu, Savyata Mishra, Jessica DiNapoli, Barbara Lewis Organizations: Reuters, International Agency for Research, Cancer, Health, Joint WHO, Food, Agriculture Organization's, CFRA Research, Shoppers, Nutrition, King’s College London, PepsiCo, Thomson

JECFA, the WHO committee on additives, is also reviewing aspartame use this year. The first group includes substances from processed meat to asbestos, which all have convincing evidence showing they cause cancer, IARC says. Like aspartame, this means there is either limited evidence they can cause cancer in humans, sufficient evidence in animals, or strong evidence about the characteristics. Pepsico removed aspartame from sodas in 2015, bringing it back a year later, only to remove it again in 2020. Listing aspartame as a possible carcinogen is intended to motivate more research, said the sources close to the IARC, which will help agencies, consumers and manufacturers draw firmer conclusions.

Persons: Coke, Shannon Stapleton, Health Organization's, JECFA, Nozomi Tomita, Zsuzsanna, Germany’s Bayer, IARC, Frances Hunt, Wood, Mars Wrigley, Kate Loatman, –, Jennifer Rigby, Richa Naidu, Michele Gershberg, Mark Potter, Susan Fenton Organizations: REUTERS, International Agency for Research, Cancer, Health, Reuters, Joint WHO, Food, Agriculture Organization's, WHO, Japan's Ministry of Health, Labour, Welfare, Food Safety Authority, U.S, International, Association, Cargill, International Council of Beverages Associations, Ramazzini Institute, EFSA, Pepsico, Thomson Locations: New York City, U.S, United States, Europe, Geneva, France, Italy, sodas

[1/4] Diet Coke is seen on display at a store in New York City, U.S., June 28, 2023. Aspartame, used in products from Coca-Cola diet sodas to Mars' Extra chewing gum and some Snapple drinks, will be listed in July as "possibly carcinogenic to humans" for the first time by the International Agency for Research on Cancer (IARC), the World Health Organization's (WHO) cancer research arm, the sources said. Pepsico removed aspartame from sodas in 2015, bringing it back a year later, only to remove it again in 2020. Listing aspartame as a possible carcinogen is intended to motivate more research, said the sources close to the IARC, which will help agencies, consumers and manufacturers draw firmer conclusions. But it will also likely ignite debate once again over the IARC's role, as well as the safety of sweeteners more generally.

Persons: Coke, Shannon Stapleton, Health Organization's, JECFA, Nozomi Tomita, Zsuzsanna, Germany’s Bayer, Frances Hunt, Wood, Mars Wrigley, Kate Loatman, –, Jennifer Rigby, Richa Naidu, Michele Gershberg, Mark Potter Organizations: REUTERS, International Agency for Research, Cancer, Health, Joint WHO, Food, Agriculture Organization's, WHO, Reuters, Japan's Ministry of Health, Labour, Welfare, Food Safety Authority, U.S, International, Association, Cargill, International Council of Beverages Associations, Ramazzini Institute, EFSA, Pepsico, Thomson Locations: New York City, U.S, United States, Europe, Geneva, France, Italy, sodas

☆ Explainer: Why is inflation so high in the UK?
▼ + stars: | 2023-06-21 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

Although down from 11.1% last October, it left the country with the highest inflation rate among the Group of Seven advanced economies. Higher core inflation is seen as a sign that price growth is more likely to remain persistently high. Another gauge of underlying price pressure that is watched closely by the BoE - services price inflation - also rose. WHY IS FOOD INFLATION SO HIGH IN THE UK? Industry data published on Tuesday showed British grocery inflation eased slightly for the third month in a row in June.

Persons: BoE, BoE Governor Andrew Bailey, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters, Britain, Food and Agriculture Organization, United Nations, European Union, OF, Investors, Thomson Locations: United States, Europe, Germany, Britain, China, Japan, Ukraine, London, Brussels

☆ Explainer: Why is UK food inflation so stubbornly high?
▼ + stars: | 2023-06-16 | by ( James Davey | ) www.reuters.com time to read: +4 min

While market leader Tesco (TSCO.L) said on Friday there were "encouraging early signs" that food inflation was starting to ease across the market, it remains stubbornly high, running at over 19% in April, according to the most recent official data. Below are possible reasons why:NOT ALL COMMODITY PRICES ARE FALLINGSome global commodity prices have fallen enabling supermarkets to pass on reductions in areas such as milk, bread, butter, pasta and oils. Generally speaking, food retailers and their suppliers operate with long-term contracts. Having eventually secured better prices, suppliers are reluctant to give up those hard won gains. Some politicians and trade unions have raised concerns about profiteering by food retailers, saying they have kept prices high despite falls in commodity, energy and shipping costs.

Persons: Andrew Bailey, reassurances, Ken Murphy, Andrew Opie, Tesco's Murphy, James Davey, David Evans Organizations: Bank of England, Tesco, Food and Agriculture Organization, United Nations, British Retail Consortium, THE, Reuters, Brexit, London School of Economics, Supermarkets, Markets Authority, Thomson Locations: Britain, China, Japan, BREXIT, London, Brussels

An internal Union Investment document seen by Reuters shows that the firm received just 30 responses to its outreach. Although consumer goods manufacturers are particularly exposed, other sectors that import goods associated with deforestation, including commodities houses and industrials companies, will also face scrutiny. Consumer goods makers are counting on technology such as satellites and artificial intelligence to help eradicate deforestation from their supply chains. Several large consumer goods companies say they are close to meeting their ambitious zero-deforestation goals. "The EU rules make deforestation a financial risk as well as an environmental risk."

Persons: Ueslei Marcelino, Henrik Pontzen, Pontzen, Janus Henderson, Jonathan Toub, haven't, Snorre Gjerde, Christophe Hansen, Magdi Batato, Kit Kat, Nestlé, David Croft, Reckitt's, Arild Skedsmo, Richa Naidu, Kate Abnett, Matt Scuffham, David Evans Organizations: REUTERS, Reuters, EU, Germany's, Investment, Unilever, ESG, Union Investment, Nestle, Pepsico, Danone, L'Oreal, KLP, Aviva, Fidelity International, Reckitt, UN Food and Agriculture Organization, Consumer, Thomson Locations: Uruara, Para State, Brazil, NBIM, Nescafe, London, Brussels

☆ World food prices fall to two-year low in May, UN food agency says
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

PARIS, June 2 (Reuters) - The United Nations food agency's world price index fell in May to its lowest in two years, as a slump in prices of vegetable oils, cereals and dairy outweighed increases for sugar and meat. The Food and Agriculture Organization's (FAO) price index, which tracks the most globally-traded food commodities, averaged 124.3 points in May against a revised 127.7 for the previous month, the agency said on Friday. But international rice prices continued to increase in May, partly due to tighter supplies in some exporting countries, said FAO. However, improving weather conditions in Brazil and lower crude oil prices have curbed sugar markets, it added. Wheat stocks were forecast to fall, however, as production was seen declining while demand was expected to be stable.

Persons: Gus Trompiz, Emelia Sithole Organizations: United, Agriculture Organization's, FAO, El, Thomson Locations: United Nations, Ukraine, Brazil

☆ 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.

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