South Africa News
South African Land Bank Unveils Drought Insurance Scheme for Smallholder Farmers
The Land Bank Insurance Company (LBIC) is launching a pioneering pilot project to provide affordable drought-risk insurance for smallholder farmers in South Africa. In partnership with CelsiusPro, this initiative will cover five provinces, targeting both crop and livestock producers. The scheme aims to protect vulnerable farming communities from the impacts of drought, which is exacerbated by climate change and El Niño. Covering regions that house 75% of South Africa's smallholder farmers, the project addresses the lack of tailored insurance solutions for approximately 250,000 smallholder and 1.5 million subsistence farmers. CelsiusPro will manage the insurance process using its proprietary White Label Platform, from pricing to settlement.
Source: Food For Mzansi
Date Published: October 16 2024
South Africa's Essential Oils Industry: A Growing Opportunity for Farmers
South Africa's essential oils industry is experiencing a resurgence, offering farmers a chance to diversify their production and tap into lucrative markets. Despite producing only 3,000 tonnes annually, the country is known for its high-quality oils, particularly eucalyptus and citrus. The sector presents opportunities in organic certification, intercropping, and meeting the growing demand for natural products. Key challenges include competing with larger producers on volume and navigating complex regulations. However, the industry's reputation for quality, coupled with innovative production methods and a focus on sustainability, positions South African essential oil producers well in the global market, which is expected to reach £12.4 billion by 2025.
Source: Food For Mzansi
Date Published: October 15 2024
Africa News
Global Stevia Giant PureCircle Reignites Kenya Operations After Initial Setback
PureCircle, the world's largest stevia buyer, is making a comeback to Kenya after a previous unsuccessful venture. The company is partnering with the Kenya Agricultural and Livestock Research Organization (KALRO) to reintroduce stevia cultivation in the country. This renewed effort aims to tap into the growing global demand for natural sweeteners, with the stevia market projected to reach £560 million by 2024. PureCircle plans to establish demonstration plots and conduct farmer training programmes to ensure successful cultivation. The initiative is expected to benefit Kenyan farmers by providing a new cash crop opportunity and potentially reducing the country's reliance on sugar imports.
Source: FarmBiz Africa
Date Published: October 16 2024
Global News
Hurricane slashes Georgia cotton crop by 20%
High winds and heavy rains from Hurricane Helene destroyed one-fifth of the cotton crop in Georgia, the second-largest cotton state in the nation, said the USDA’s monthly Crop Production report. The USDA estimated that growers would harvest 1.65 million bales of cotton weighing 480 pounds each, down by 400,000 bales from a pre-hurricane estimate. Losses of $207-$220 million have been estimated.
Source: Agribusiness Global
Date Published: October 15, 2024
Canadian Government Invests £1.2 Million in Cereals Canada to Boost Grain Sector
The Canadian government has announced a substantial investment of £1.2 million in Cereals Canada, aimed at enhancing the competitiveness of the country's grain sector. This funding, provided through Agriculture and Agri-Food Canada's AgriMarketing Program, will support various initiatives over five years. The key objectives include expanding market access, addressing trade barriers, and promoting Canadian wheat in international markets. Cereals Canada plans to utilise the funds for trade missions, market research, and technical exchanges with customers. The investment is expected to bolster Canada's position as a leading global grain exporter and foster economic growth in the agricultural sector.
Source: The Western Producer
Date Published: 16 October 2024
US Vice President Kamala Harris Reveals Comprehensive Rural Development Plan
Vice President Kamala Harris has unveiled an extensive rural development strategy aimed at bolstering economic opportunities in America's rural communities. The plan focuses on expanding access to capital, improving infrastructure, and fostering innovation in agriculture and clean energy sectors. Key initiatives include a $5 billion investment to support rural small businesses, the expansion of high-speed internet access, and measures to enhance climate resilience. The strategy also emphasises the importance of education, healthcare, and housing in rural areas. Harris's plan seeks to address longstanding challenges faced by rural communities whilst promoting sustainable growth and creating new job opportunities across various sectors.
Source: Farm Progress
Date Published: 15 October 2024
Maize Production Set to Offset Sugarcane Shortfall, Ensuring Ethanol Supply in Brazil
Despite challenges in the 2024/25 sugarcane harvest due to drought and fires, Brazil's ethanol supply is expected to remain stable, bolstered by increased maize-based biofuel production. While sugarcane processing is projected to decrease by 3.2%, maize-based ethanol production is anticipated to grow by 30%, resulting in a 1.2% overall increase in ethanol supply. The global ethanol market remains robust, with demand expected to rise 30.3% in Q4 2024 compared to the previous year.
However, long-term impacts on sugarcane productivity may affect the 2025/26 harvest, potentially leading to a 2.8% reduction in total ethanol supply despite increased maize and wheat-based production.
Source: Portal do Agronegócio
Date Published: 15 October 2024
