More bad news for wheat stocks from drought-hit Argentina by AFP Staff Writers Buenos Aires (AFP) June 9, 2022 With wheat prices skyrocketing due to Russia's invasion of Ukraine, major producer Argentina faces its "worst planting scenario in 12 years" of the crucial grain, a major trade forum said Thursday. The Rosario Board of Trade said the area planted with wheat in Argentina for the 2022-23 season would be a lower-than-expected 6.2 million hectares. This was 700,000 hectares smaller than the preceding season, which yielded a record harvest of 23 million tons of wheat. Argentina was the world's eighth-biggest wheat producer in 2021-22, according to figures from the United States Department of Agriculture. And according to the UN's Food and Agriculture Organization (FAO), it was the seventh-largest exporter in 2021, behind Ukraine in sixth place. This year, Argentina faces "a very complex planting scenario" for wheat due to three successive years of drought caused by the La Nina weather phenomenon, said the board. Last week, the FAO said wheat prices were up 5.6 percent in May from a month earlier, and were 56.2 percent higher than a year ago. This was the result of Russia's war on Ukraine as well as an export ban announced by India -- the eighth-largest wheat exporter in 2021. The hottest March on record hit Indian harvests hard. Ukraine's wheat harvest is expected to fall by 40 percent this season, according to the Ukrainian Grain Association. The war has also disrupted deliveries of agricultural products from the country, fuelling concerns of a global food crisis.
Spain seeks to reduce food waste by supermarkets, restaurants Madrid (AFP) June 7, 2022 Spain's government on Tuesday adopted a draft bill aimed at reducing food waste by introducing fines for restaurants and supermarkets who bin leftovers, similar to existing legislation in France and Italy. "This is a pioneering legal instrument to prevent wastefulness" in the food chain, from producers to consumers, which leads to financial losses and impacts the environment, Food Minister Luis Planas said after a cabinet meeting. "In a world where unfortunately hunger and malnutrition still ex ... read more
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