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Balanced Reporting. Trusted Insights.
Sunday, April 13, 2025
The California Air Resources Board has approved a 20% limit on credits for renewable diesel produced from soybean, canola and sunflower oils, despite industry complaints that the cap was unnecessary and would increase the state's reliance on foreign feedstocks for biofuels.
Dockworkers and their employers appear to have made little progress in discussions over a new contract as the strike that started Monday at East and Gulf Coast ports continues to snarl supply chains for containerized agricultural products.
Prices for global food commodities rebounded in July, driven in part by a sharp rise in the cost of sunflower oil as Russia terminated the Black Sea Grain Initiative, creating new uncertainty about Ukraine’s ag exports, the UN Food and Agriculture Organization reported Friday.
When the Russian military invasion cut off Ukraine’s ability to export sunflower oil and wheat, it helped push “a cascading food crisis around the world,” according to a spokeswoman for the U.S. Agency for U.S. Agency for International Development. Now Indonesia, which last week banned the export of palm oil, is exacerbating the conditions that are driving global shortages and price spikes of vegetable oil.
Ukrainian farmers are struggling to export their corn, wheat and sunflower oil on railcars, trucks and river transportation along the western border, but not much is making it out through Poland, Romania, Slovakia and Hungary, according to a new report released Wednesday out of the Ukrainian Ministry of Agrarian Policy and Food.
USDA increased its forecast for global wheat stocks despite the war in Ukraine but also cautioned that the Russian invasion had “significantly increased the uncertainty” of agricultural supplies and demand around the world.
