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January U.S. Import Price Index Up 0.6 Percent
US, EU Wheat Price Drop Improves Prospect of Sales to Russia
A fall in wheat prices in the United States and Europe to the lowest levels in seven months has improved the prospects of sales to Russia, traders and analysts said. Yum Brands Takes Hit After Earnings Call, KFC China Poor Outlook
David Novak, CEO of Yum Brands, Inc., admitted a “poultry supply chain” issue in China as he spoke with investors today. Tyson Foods Boosted By Exports, Reveals Value-Added Future in Earnings Call
Tyson Foods was cautiously optimistic about its near-term prospects during an earnings call Friday, as it revealed a strategy to better supply the foodservice industry. Indonesia Uncertain About U.S.-Supported TPP, Others Considering
Indonesia has expressed reticence towards joining the Trans-Pacific Partnership (TPP), as the next development meeting looms a month away. U.S. Trade Representative Ron Kirk To Quit End of February
Ron Kirk, who serves as United States Trade Representative, will step down at the end of this month. He was in charge of planning and advising American trade policy to President Barack Obama. European Commission Recommends Anti-Dumping Measures Against U.S. Biofuels
Anti-dumping duties of 9.5 percent on U.S. biofuels have been recommended by the European Commission, the executive body of the European Union. Ethanol imports were found to negatively affect the EU bioethanol industry. U.S. Trade Deficit Grows, Food Exports Decrease
The U.S. notched a 15.8 percent higher trade deficit in November, with exports worth $182.6 billion versus imports of $231.3 billion. All told, the goods and services deficit was $48.7 billion compared with $42.1 billion in October. Russia's U.S. Meat Import Ban Begins February 11
Meat from the United States is set to be barred from Russia, due to usage of a drug in cattle feed. Ractopamine, as the substance is called, helps to promote lean meat development in livestock. Japan Easing Decade-Long Ban on American Beef Imports
A ban on U.S. beef imports in place since "mad cow disease" outbreaks in 2003 has been eased by the Japanese Ministry of Agriculture, Forestry and Fisheries. The change will take effect on Monday, January 28. Russia Helps Farmers, Consumers By Allowing Grain Exports
Russia's decision not to ban grain exports after another poor harvest shows its leaders recognize that the embargo imposed after the failed 2010 crop was a mistake. Twinkies Maker Hostess in Talks With 110 Potential Buyers to Keep CupCakes, Ding Dongs, Devil Dogs Alive
Twinkies fans rejoice! Hostess is not going anywhere anytime soon. Twinkies fans rejoice! Hostess is not going anywhere anytime soon. According to the Associated Press, Hostess Brands Inc. Food Banks Face Empty Pantries in Thanksgiving Week
It's Thanksgiving week, but not everyone will get their share of Turkey as hunger relief is not matching the requirement, reported The Sun. "Nearly five years into the economic crunch, hunger relief is failing to match the demand", food bank officials said according to the report. Cuban Coffee Farms Damaged by Hurricane Sandy
Hurricane Sandy destroys coffee farms in Cuba. The prices of coffee Arabica and Robusta have been affected. Senator Boxer, 500 Restaurateurs Plead for Action against Fish Fraud
California Senator Barbara Boxer urges the FDA to take action against fish fraud in the country. Meanwhile, 500 restaurateurs have signed and sent a petition to the Congress to put a stopper to fish mislabeling.
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