Anti-Dumping Tariff on Vietnamese Catfish Reduced
The US Department of Commerce (DOC) has announced the seventh final results of its administrative review (POR7) on frozen catfish fillets imported from Vietnam. Specifically, Vinh Hoan Group will continue to enjoy 0 per cent anti-dumping tariffs on exports to the US from August 1, 2009 to July 31, 2010, while the other 12 Vietnamese exporters involved in the review are still subject to a tax rate of US$0.03 a kilogram for POR7.
http://www.thefishsite.com/fishnews/16669/antidumping-tariff-on-vietnamese-catfish-reduced
Vietnam PM Signs Decision so Traders Stockpile Rice for Farmers
Vietnamese Prime Minister Nguyen Tan Dung has signed a decision under which traders will buy a maximum of 1 million tonnes of winter-spring rice crop from farmers for temporary stockpiling, from March 15 to April 30. Vietnam Food Association will be in charge of assigning traders to buy the above amount of rice for temporary stockpiling, and traders will buy directly from farmers in accordance with market mechanism and will be responsible for all business dealings.
The State Bank of Vietnam will support this program with 100 per cent interest free loans during the allocated time period so that traders may complete their transactions.
Yurun Group Sees Profits Down
Chinese integrated meat processor China Yurun Food Group has encountered a drop of 10.1 per cent of the Group's gross profits. The company said the decrease was mainly due to the significant increase in raw material costs, in particular hog prices, together with weakened market confidence in the group's products and the increasing difficulty in transferring the group's increased operation costs to its customers. The decrease has also been attributed to product promotion activities conducted by the group in the fourth quarter of 2011, which were targeted at retaining market share.
The Group will nonetheless continue to expand its capacity, accelerate the enhancement of its nationwide production capacity in the coming years, so as to further strengthen its leading position in the industry and capture the tremendous business opportunities in both upstream and downstream markets.
http://www.thepigsite.com/swinenews/29165/yurun-group-sees-profits-down
Corn and wheat prices rise on Chinese demand
Due to high Chinese demand for US corn and the global price of both wheat and corn commodities has risen. The most active corn contract for May delivery rose 14.4 cents, or 2.23 percent, to close to $6.59 per bushel. May wheat gained 8.2 cents, or 1.28 percent, to $6.51 per bushel, however May soybeans edged down 3.2 cents, or 0.24 percent, to settle at $13.34 per bushel.
http://www.chinadaily.com.cn/usa/business/2012-03/13/content_14821997.htm
Dabeinong Technology to invest millions for expansion
Beijing Dabeinong Technology Group, a Chinese producer of animal feed and seeds, announced it will spend CNY 618 million (?79 million) on a nationwide capacity expansion program. The main reason driving this expansion is high demand exceeding the company's ability to supply. According to the company, it will acquire and expand animal feed production lines in five cities for CNY 318 million (?37.5m), and then invest another CNY 300 million (?35.5m) for the construction of a bio-pharmaceutical industry base at its wholly-owned subsidiary, Beijing Zhongke Mufeng Bio-Technology.
http://www.allaboutfeed.net/news/dabeinong-technology-to-invest-millions-for-expansion-12869.html
Rock Lobster Fishery Gains Third MSC Certification
Australia's most valuable single species fishery, the Western Australian Rock Lobster fishery, has gained a third MSC certification. With an estimated value of $200M per year, the Western Australia Rock Lobster fisher was first certified back in 2000 and was recertified in 2006. This recertification has again demonstrated that the rock lobster stocks are healthy, while fishing practices have minimal impact on the marine eco-system and the fishery is well managed.
As a result products from this fishery will continue to bear the blue MSC ecolabel, which assures customers that the products come from a sustainable and well managed fishery. These conditions relate to the setting of well defined harvest control rules, the use of data in setting these control rules and the collection of data on the spatial extent of the fishery. These conditions have been agreed by the fishery, and will be met by the second annual audit in November 2013.
http://www.thefishsite.com/fishnews/16665/rock-lobster-fishery-gains-third-msc-certification