International Ag News, Monday September 26, 2016

Iran Now Self-Sufficient in Wheat

Government leaders in Iran say the nation is now self-sufficient in regards to its domestic wheat supply and aims to export wheat in the coming months. Iran has been a major wheat importer in recent years as the country sought to guarantee local food supplies, although its needs have varied partly due to erratic domestic production, according to Reuters. However, following a good growing season, the mood has changed in Iran with an increased domestic supply. Iran’s agriculture ministry said in June that 4.2 million metric tons of wheat had been bought from domestic farmers this year in state-sponsored purchases. That figure represents a 20 percent increase from the same period last year.

China places Anti-Dumping Duties on U.S. DDGs

China on Friday announced anti-dumping duties on U.S. distillers ‘dried grains, or DDGs, shipped by two U.S. suppliers. The 33.8 percent duties are effectively immediately against Louis Dreyfus and Archer Daniels Midland. There’s no word on a final decision, but the duties stem from a months-long investigation by China following complaints that the U.S. was unfairly benefiting from subsidies, according to Pro Farmer’s First Thing Today. China is the world’s top buyer of DDGs, a by-product of corn ethanol. China imports almost all of its DDGs from the United States, the largest exporter. Trade experts fear the final decision regarding the duties on DDGs could be even higher than the one issued Friday.

Source:  NAFB News