Worst US Drought Since 1930s

“Corn prices will stay high as a record crop in Argentina and a higher harvest in Brazil will fail to replenish stockpiles after production losses from the worst U.S. drought since the 1930s, the United Nations said.”

““It is too early to talk about a full recovery in production, stocks and a decline in international prices,” said Liliana Balbi, a senior economist at the UN’s Food & Agriculture Organization. It will take a recovery in output in the U.S., the largest grower and exporter, and bumper crops in China and Europe to ease the supply concerns, she said.”

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US may levy antidumping duty on xanthan gum

“The Chinese Ministry of Commerce has repeatedly urged the United States to abide by its commitment against protectionism and work together with China and other members of the international community to maintain a free, open and just international trade environment.”

The US Commerce Department is scheduled to make its final determination in May 2013.

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Penalty awaits guar traders

“In order to avoid the repeat of guar-like saga in other agri-commodities, the Forward Markets Commission (FMC) is planning to impose a heavy penalty on a number of traders for … artificially manipulating prices.”

 “An FMC investigation in May 2012 revealed 4,490 entities were involved in guar price manipulation, who benefited by around Rs 1,291 crore.”

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