analysis commodity prices
14 | The Grocer | 10 August 2019 Get the full story at thegrocer.co.uk
● Dairy: A no-deal Brexit
could lead to the culling
of up to 45,000 dairy cows
in Northern Ireland if new
higher tari s are applied to
British milk, senior industry
gures have told the BBC’s
Newsnight. Defra o cials
had been warned about a
major cull, ‘but they are not
listening’, the report warns.
NI is particularly vulnerable
because about a third of its
dairy output is processed in
the Republic of Ireland.● Pork: About 130,
pigs have been killed on
large commercial farms in
Bulgaria during the past
month, amid a n escalation
of African swine fever cases
in domestic pigs in eastern
Europe, the National Pig
Association said this week.
A state of emergency has
been con rmed in several
districts across the country.● Pesticides: Pesticide
chlorpyrifos does not meet
the criteria for the renewal
of its EU operating licence,
the European Food Safety
Authority has said. The
chemical’s approval runs
out in January. EFSA said
it had identi ed concerns
about possible genotoxic
and neurological e ects.prices digest
Hormone-free beef exports from the US will triple in a seven-year dealT
he US is set to triple
tari -free exports of
hormone-free beef to
the EU under a new seven-year
agreement.
Currently the EU has a 45,
tonne duty-free tari rate quota
(TRQ) for non-hormone treated
beef, which is open to qualify-
ing third countries.
The quota was established
in 2009 to resolve a long-stand-
ing WTO dispute with the US
over the EU’s ban on the use of
growth-promoting hormones.
However, the US currently only
exports 13,000 metric tonnes of
beef to the EU annually.
Under the new deal, signed
this week, the US will be allo-
cated 35,000 tonnes of the
TRQ, phased over a seven-year
period, while the remainder will
stay open to other exporters.
US trade representative
Robert Lighthizer said the deal
would guarantee American
ranchers a “bigger share of
Europe’s beef market”, with
annual duty-free exports
expected to grow from $150m
to $420m once the agreement is
US set to triple tari -
free EU beef exports
fully implemented.
The European Commission
stressed the deal wouldn’t
increase overall imports, and
all beef coming would be hor-
mone-free in line with existing
EU food safety rules.
It comes as AHDB claimed
the UK had made “positive pro-
gress” in e orts to re-open the
market for red meat exports to
America, following a visit from
US government inspectors.
A team of o cials visited ve
beef sites, four pork and onelamb on the mission, which was
part of a bid to get approval for
beef and lamb exports to the US
and achieve ongoing approval
for UK pork exports to America.
“This has been a crucial step
towards gaining access to the
American marketplace for beef
and lamb and continue our
access for pig meat and we are
pleased that the three-week
mission proved a success,”
said AHDB international mar-
ket development director Phil
Had ley.Carina Perkins
CURRENCY PRICE CHANGE CHANGE
WINNERS & LOSERS
price per
tonne m-o-m % y-o-y %
Key climbers
Gas (UK) GBP . . – .
Palm k’nel oil (R’dam) USD . – .
Aluminium (LME) USD , . – .
Sunflower oil (NW Eur) USD . . .
Palm oil (R’dam) USD . . –.
Key fallers
Tea (Kenya) USD . – . – .
Rye bread (Germany) EUR . –. –.
Arabica (ICE) (NY) (US) US cent . –. –.
Robusta (ICE) (EU) USD, . –. –.
Wheat (Euronext Paris) EUR – . – .
Source: Mintec. Note: All prices are indicative only and are representative within the country quotedEU sun ower oil prices are on
the up due to a rise in demand
caused by high rapeseed oil
prices. Forecasts had expected
the rapeseed market to recover
from last year’s hot weather.
However, there are concerns
over the crop’s oil content.
Increased production for
the fourth consecutive year in
Indonesia and Malaysia has
seen palm oil prices remain
down compared with last year.
But month-on-month prices are
on the up a er an increase in
imports from India and China.
These rises are expected to be
short term.
Tea prices at auctions in
Mombasa have been hit by
lower demand from major
Kenyan tea importers.
Pakistan, the UK and the UAE
have all reduced their trading
activities with Kenya, which
has counteracted the potential
for price increases.
Commodity and Wholesale prices data
supplied by Mintec. Mintec is the principal
independent source of information for
commodities and raw materials. Mintec
monitors the key factors that are vital for efficient
procurement and provides sophisticated tools for analysing
and interpreting market information. http://www.mintecglobal.comcommodity prices: sun ower oil in high demand