3 BIG THINGS TODAY, FEBRUARY 13

BEANS HIGHER, CORN LOWER IN OVERNIGHT TRADING; CWG PEGS BRAZIL SOY OUTPUT AT 106 MILLION TONS.

1. SOYBEANS HIGHER, CORN LOWER OVERNIGHT AHEAD OF WASDE

Soybeans were higher in overnight trading while corn was lower as investors square their positions ahead of tomorrow’s World Agricultural Supply and Demand Estimates (WASDE) report.

Analyst said they expect the U.S. Department of Agriculture to lower its estimate of soybean stockpiles from last month amid strong consumption.

The USDA’s corn inventories forecast also is expected to decline slightly month over month, but analysts have said they expect the government to raise its outlook for Brazilian production. Investors including fund managers and hedgers alike also are looking forward to today’s weekly ethanol production and stockpiles reports.

Soybean futures for March delivery rose 8¢to $10.50¾ a bushel overnight on the Chicago Board of Trade. Soy meal gained $2.50 to $338.60 a short ton, and soy oil added 0.17¢ to 34.47¢ a pound.

Corn lost a penny to $3.67½ a bushel in Chicago.

Wheat futures for March delivery fell 1¢ to $4.29¾ a bushel. Kansas City futures rose ¾¢ to $4.40¼ a bushel.

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2. COMMODITY WEATHER GROUP PEGS BRAZILIAN SOYBEAN OUTPUT AT 106 MILLION TONS

Brazilian growers will produce a record 106 million metric tons of soybeans this year, Commodity Weather Group said in a special statement.

“A combination of favorable soil moisture and good vegetative health” has given the country’s crop a boost, CWG said. Brazil is the world’s largest exporter of soybeans and the second-biggest producer behind the U.S.

Yields are forecast to be records in the country’s largest-producing states as long as weather conditions continue to favor development.

The U.S. Department of Agriculture last month pegged Brazil soybean production at 104 million metric tons. CWG’s estimate is also about 3 million tons above a forecast by Conab, Brazil’s agricultural consultancy.

CWG said there’s potential for another 500,000 to 1 million tons to be added if the weather improves from already-favorable conditions. The only risk to the downside is a dry patch in northeastern Brazil, but that accounts for only about 10% of the Soy Belt, the weather forecaster said.

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3. WINTER WEATHER ADVISORY ISSUED FOR SEVERAL STATES FROM SOUTH DAKOTA TO OHIO

A winter weather advisory stretching in a narrow band from the Black Hills all the way east to central Ohio is in effect this morning, according to the National Weather Service.

In extreme northwestern Nebraska, as much as 5 inches of snow is falling. Periods of light snow are expected through much of the morning, the NWS said in a report early Wednesday.

In central Iowa, the snow may hold off for a few hours this morning before starting again this afternoon, which could lead to the advisory being canceled in the area, the agency said. Snowfall should end by about noon.

Further east into Indiana and Ohio, the advisory will last until at least 8 p.m. local time. Up to 3 inches of snow are expected, and roads are expected to be slippery, according to the NWS.

Armyworm Invasion threatens farmer’s Livelihood

•  CABI Chief Scientist call for urgent response to protect farmer’s interest

Crop destroying caterpillars- Army worms are now spreading rapidly across Africa, threatening Agricultural trade.

The caterpillar destroys young maize plants, attacking their growing points and burrowing into the cobs.

In a research published by the Britain-based Centre for Agriculture and Biosciences International (CABI) the pest, which had not previously been established outside the Americas, is now expected to spread to the limits of suitable African habitat within a few years.

The CABI research also found evidence of two species of fall armyworm in Ghana for the first time and scientists are now working to understand how it got there, how it spreads, and how farmers can control it in an environmentally friendly way.

CABI’s Chief scientist, Matthew Cock, informed that this is the first time it has been shown that both species are established on mainland Africa.

“It likely travelled to Africa as adults or egg masses on direct commercial flights and has since been spread within Africa by its own strong flight ability and carried as a contaminant on crop produce. Following earlier reports from Nigeria, Togo and Benin, this shows they are clearly spreading very rapidly”, he explained.

Earlier this month, Reuters reported that a plague of suspected armyworms destroyed 2000 hectares of crop fields in Malawi and was spreading at alarming rates. These outbreaks can cause devastating losses and have resulted in a mounting debt crisis amongst many farmers in affected areas.

While armyworm mainly affects maize, reports also indicate that it eats more than 100 plant species, causing major damage to crops such as rice and sugarcane as well as cabbage, soybeans, onion, pasture grasses, millet, tomato, potato and cotton.

Cock warned that outbreaks can cause devastating losses and mounting debts for farmers and said urgent action is now needed to help farmers figure out the best strategies to control the pest.

“This invasive species is now a serious pest spreading quickly in tropical Africa and with the potential to spread to Asia. Urgent action will be needed to prevent devastating loses to crops and farmers’ livelihoods” he said.

HOW TO MAKE MONEY EXPORTING FOODSTUFFS

The local foodstuffs exportation business is growing rapidly kudos to the rising number of Africans living abroad.

This form of entrepreneurship was discovered by some locals who at one time traveled abroad to visit relations or do business and on getting there found out that the local kind of delicacies like egusi, amala, onugbu, fio-fio, pounded yam, and Oha soup etc are rarely available and when seen in an African restaurant, very costly.

This gap in getting local dishes abroad has opened opportunities also for foreigners living Abroad setting up restaurants. Also in the last two decades, restaurant across Europe and America have thrived, making these delicacies a regular feature on their menus.

More so, other than restaurants, the increasing number of Nigerians living abroad in these countries have continued to create a high demand for local foodstuffs and ebibles abroad.

Commodities in high demand include; smoked fish, crayfish, garri, beans flour, melon seed, ogbono, cassava flour, bitter leaf, dried pumpkin leaf, pepper, pap and vegetable leaves, Ugu, Utazi, Ewedu, Efo, Okazi, Chili, pepper, Dried fish, Stockfish, Maggi cubes, ,Yam tuber, Poundo Yam, Ofada rice, Yam flour, Fufu powder, Indomie Noodles among others.

The good news about foodstuffs export is that with a little capital anyone can participate in this highly lucrative business, I therefore urge youths, start ups and those seeking to create wealth for themselves to tap into this wealth creation opportunity which do not require them to break their bank accounts.

Prospective investors can also maximize the returns on their capital and portfolio by investing in Foodstuff export side by side Agro commodities investment and export.

With every business, having access to the right information, knowledge and training about foodstuffs export business; requirements, documentations and processes is the most important aspect of this business beyond having capital and a registered company.

Join Agro News Nigeria on the 18th February, 2017, In Lagos for the 2nd edition of the Agro commodities and Foodstuffs Export Training workshop.

 Featuring;
*Export Documentation
* Foodstuff Export Procedure
*NAQS Documentations and processes
*How to connect with foreign buyers
* Sourcing of foodstuffs
* Quality Determination.
* Freight & shipping documentations and costs.

Also featuring;  The Business of Agro Commodities; Investment, Storage, Processing and Export. (Raw Cashew Nuts, Ginger, Soybean, Palm Oil, Palm Kernel Oil, Palm Kernel, Hibiscus, Sesame Seed, Shea Nuts,  Ground Nut)

Date; Saturday, 18th February, 2017
Venue; Chemline House Training and Event Centre Hall 1, 7,Obasa Road,Off Oba-Akran, Ikeja,Lagos. (Behind Forte Oil Filling Station).
Time; 9;30 am to 4;30 pm
Cost; N20,000.

To register text name and email to 08035044364 or fill the form below;

HOW TO MAKE MONEY FROM AGRO COMMODITIES

Nigeria is a country that is blessed with abundant agricultural produce and commodities.

Some of these Agro commodities that offer a very promising and high prospect for income and wealth building include;

– Soybeans, Hibiscus (Zobo leaf), Ginger, Garlic, Cashew nuts, Cocoa, Sesame Seed, Shea nuts / butter, Maize, Wheat, Onion, Tomato, Honey, Chili Pepper, Palm oil, Palm Kernel Oil, Palm Kernel etc

More so, with these commodities being available at different seasons and its occurrence spread across different regions of the country that supports their growth, they present a huge income building opportunity for investors, youths and entrepreneurs when opportunities in their value chain are explored and tapped into.

Some of the ways by which entrepreneurs, youths and investors can profit through Agro commodities include but not limited to the following;

– Agro Commodities Farming
– Agro Commodities Sourcing
– Agro Commodities Brokerage
– Agro Commodities Supplier
– Agro Commodities Marketing
– Agro Commodities Processing
– Agro Commodities Storage (Trading on and off season)
– Agro Commodities Export.

To participate profitably in the Agro Commodities business; every participant should have a complete knowledge of the following;

– Seasons for Investment
– Farming guide and business plan
– Sourcing Techniques
– Measurements Standards
–  Pricing Standards
– Quality Determination Techniques
– Export Destinations
– Export Documentations and Procedures
– Storage Practices
– Processing opportunities and end products

If you are in Lagos join Agro News Nigeria on the 18th February, 2017, for the 2nd edition of the Lagos Agro commodities and Foodstuffs Export Training workshop.

 Featuring;

* Agro Commodities Investment ( Production business plans, Sourcing, Export documentation and requirements, Processing and Investment Opportunities)

* Foodstuff Export; requirements, documentations and procedure.

*NEXIM Bank Export Credit Facility Procedure.

Date; Saturday, 18th February, 2017
Venue; Chemline House Training and Event Centre Hall 1, 7,Obasa Road,Off Oba-Akran, Ikeja,Lagos. (Behind Forte Oil Filling Station).
Time; 9;30 am to 4;30 pm
Cost; N20,000.

To register text name and email to 08035044364 or fill the form below;

FG OKAYS MEASURES TO REDUCE FOOD PRICE

The Federal Government has approved measures to force down the prices of food in the market.

The minister of Agriculture, Audu Ogbeh disclosed this to State House Correspondents after the federal executive meeting presided over by Acting President Yemi Osinbajo at the Presidential Villa.

LEADERSHIP recalls that the federal government last week  set up a task force on food security to check the rising cost of foods in the market with a one week mandate to report back to the council on Wednesday.

Members of the Task Force include : Minister of Agriculture & Rural Development, Chief Audu Ogbeh;Minister of Finance, Mrs Kemi Adeosun

Minister of Industry, Trade & Development, Dr. Okey Enelamah;Minister of Transportation, Honorable Rotimi Amaechi;Minister for Water Resources, Engr. Suleiman Adam;Minister of Labour & Employment, Dr. Chris Ngige

According to Ogbeh, the hike in cost is “not due to shortage but high cost of transportation”as  food items are generally moved across Nigeria with heavy trucks and the price of diesel which has gone up has therefore, led to increase in prices.

He listed some of the measures to include ;  using railway wagons to transport food items, work with state governments to reduce delays experienced by trucks along the roads through all sort of taxes by local governments,stop mutiple taxation and green house emissions.

The minister also clarified that the government has no plans of controlling the price of food in the market but rather to checkmate the rising cost of food.

Ogbeh also  said council approved a set of measures to boost production and attract investment into the Nigerian tomato sub-sector as according to him, this is a sector that has lots of farmers, in a state like Kano alone there are 75,000 farmers and so it is important to encourage them.

He also  said the government approved

set of measures to encourage them both in local production as well as to attract more investment into tomato farming, processing all the way, the value chain to how tomato gets to our tables.

He explained ;These measures will include things we are doing to make sure we plant tomato round the year, things like green house equipment, making sure that they can come in without any barriers or duties. They also include the use of both tariff and non tariff measures to address the issues Nigerians are most concerned about, which is the issue of dumping, issues around quality and the standards of what we consume.

“We also approved a set of measures that will boost local production in terms of financing seeds and all the other things.Let me say that the most important thing about these set of policies is that in our approach we are going to working with the stakeholders to actually implement the polices.

“so we are going to set up an inter-ministerial committee that will work with the private sector and with different stakeholders to make sure that the implementation of the policy itself it not only done transparently but also robustly to ensure that we achieve the desired objective which is to make sure that we become self sufficient in tomato within the next one or two years.

The minister further explained that the issue of tariff is to discourage import as dumping was very central to the approval of the memo adding that there is going to be an increase in tariff.

He added ;Most definitely we are not coming down, we are going to go up. We will be announcing what the new tariffs are but clearly there is a new set of tariff that will discourage dumping, you can take that to the bank to boost local production we are interested in all the input factors that will boost production. On financing the Central Bank had been working with the tomato farmers already.

He expressed confidence  that the measure taken will boost production saying  the minister of science and technology is working with his ministry in terms of both the production methods and equipment in terms of the things that will boost year round production of tomato.

“Notably the green house equipment the duties on those will be zero so that the equipment will come in before now the duty on green house equipment is 20% we are removing that to make it possible for people to grow tomato all year round.

“We are going to restrict import of finished tomato products that can be produced locally, so all the products that people bring in, in terms of paste and powder and all those things will be restricted because they can be manufactured locally.

He said these policies will be rolled out right away and these are policies for this year as they  are going to use tariffs and levies as well to discourage imports of tomato paste and those levies will be used to develop the local industry just like they have done in the sugar and cement industry.

He said the government is also going to restrict the importation of finished products from other ECOWAS countries where products are dumped then transported across our borders, making sure those risky products don’t go through

our land borders and if you want to import them you have to go through the sea.

“We are going to make sure that in terms of incentives which goes back to production, the Nigerian Investment Promotion Commission make sure that the production of tomato gets its pioneer status.

“We are also working on financing from the CBN in terms of financing of production we are also working with the ministry of agriculture on seedling quality and so on” he  stated .