IGC forecasts small rise in wheat stocks in 2013-14

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london / reuters The International Grains Council forecast March 21 that world wheat harvested area would climb to a four-year high for the 2013-14 season but global stocks would only rise modestly.

The IGC, in a monthly update, forecast a rise in global wheat stocks of three million tonnes by the end of the 2013-14 season, which would only partially offset a decline of 20 million tonnes in 2012-13. A sharp rebound in U.S. maize production was anticipated in 2013-14 with the IGC forecasting the world’s top grower could boost production by as much as 30 per cent, year on year, from a drought-affected 2012-13 harvest.

World Bank lends money to Smithfield-led pork initiative in Mexico

washington / reuters The World Bank’s private-sector lender is loaning $40 million to Norson, a joint venture in Mexico of local investors and the world’s largest pork processor Smithfield Foods, to expand production and cut greenhouse gas emissions at its plants.

The International Finance Corp. (IFC) said the loan will help Norson Holdings increase production, processing and cold storage over the next four years. The company will also install plastic liners at its waste facilities and look at ways to turn methane into electricity.

“This partnership supports food security by promoting agriculture productivity, rural employment, and environmental and social standards,” said Jin-Yong Cai, IFC executive vice-president and chief executive.

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