Sydney | Reuters — Australia is set to increase taxes on foreign travellers who work in the country, raising concerns from farmers that their supply of “backpacker labour” at harvest times may dry up and undermine Australia’s ambitions of being Asia’s delicatessen. Australian fruit exports are set to hit a record A$2.27 billion (C$2.19 billion) […] Read more
Australia to hike tax on ‘backpacker’ workers
Australia set to legalize cultivation of medical cannabis
Sydney | Reuters — Australia is expected to legalize the cultivation of cannabis for medical or scientific purposes with a bill introduced to parliament on Wednesday — the first step toward doctors eventually prescribing it to patients with chronic pain. The bill will see Australia create a national licensing and permit scheme to supply medical […] Read more
Major investment to build Farmers Edge’s data power
Canadian precision agronomy and farm data management firm Farmers Edge plans to keep taking its services to previously underserved acres around the world, with a major cash infusion from a group of its backers. Japanese commodities trading and investment firm Mitsui, Toronto commercial real estate company Osmington and the Green Growth Fund operated by investment […] Read more
Australia blocks foreign firm’s deal for largest farm owner
Sydney | Reuters –– Australia on Thursday blocked the sale of the country’s largest landowner, private farming group S. Kidman and Co., to foreign investors, saying an agricultural area the size of South Korea should remain in Australian hands. Ownership of farmland is a sensitive political issue in Australia amid concerns that foreign buyers are […] Read more
Drought exposes cracks in Australia’s acclaimed water market
Sydney | Reuters — A pioneering Australian scheme to improve the management of water in the world’s driest inhabited continent is facing its first real test as an intensifying El Nino threatens crops and builds tensions between farmers and environmentalists. The three-year old management plan for the Murray-Darling basin, an area twice the size of […] Read more
Australia lifts beef export forecast as El Nino bites
Sydney | Reuters — Australia raised its forecast for beef exports by 20 per cent on Tuesday as drought conditions worsened by an El Nino weather pattern force farmers in the world’s third-largest exporter to maintain near-record slaughter rates. Beef exports are expected to total 1.225 million tonnes in the crop year to July 1, […] Read more
‘Megatrends’ expected to move ag sector in future
CNS Canada — Health-conscious customers with money to spend will be looking to purchase more food over the next 20 years, while changing technologies and global economic uncertainty will bring their own challenges. That’s the outlook in a recent report out of Australia, highlighting five megatrends expected to impact the agricultural sector in the coming […] Read more
U.S. grains: Soybeans climb as China fears wane
Chicago | Reuters –– Benchmark U.S. soybean futures rose 1.5 per cent on Thursday as equity markets stabilized in China, the world’s top soy buyer, and on outlooks for dry weather as the U.S. Midwest growing season winds down, traders said. Corn clung to modest gains on better-than-expected weekly U.S. export sales and spillover strength […] Read more
Chinese billionaire buys Australian cattle stations
Sydney | Reuters –– A Chinese billionaire has bought two large Australian cattle stations for A$47 million (C$44.8 million), in at least the third deal this year involving a Chinese investor buying into the country’s farmlands. Xingfa Ma, who owns the Tianma Bearing Group Co., snapped up 40,000 head of cattle along with the 705,700-hectare […] Read more
Warming Pacific waters seen fuelling lengthy El Nino
Sydney | Reuters –– Pacific Ocean temperatures continue to warm, supporting El Nino weather conditions for the rest of 2015, Australia’s Bureau of Meteorology said Tuesday. An El Nino can have devastating consequences for agriculture globally, causing heavy rains and floods in South America and scorching weather in Asia and as far away as east […] Read more
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