(American Dairy Products Institute)
The U.S. Agriculture Department said on Monday it will extend for another year a dairy export subsidy program that has been criticized as a protectionist ploy by international competitors.
The program, revived in May after a five-year hiatus, had been set to wrap up by June 30, but Agriculture Secretary Tom Vilsack said world markets remained weak.
“Our international markets continue to erode and the European Union has shown no indication that it will refrain from providing dairy export subsidies,” Vilsack said in a release. “We will continue to use this program in a responsible manner in support of U.S. dairy farmers,” he said, noting the program is consistent with U.S. commitments to the World Trade Organization. Read more here.
Tuesday, July 7, 2009
Monday, July 6, 2009
China Begins Trial Scheme for Yuan Trade Settlement
(RTT News)
Monday, China has commenced a pilot scheme for companies to settle cross-border trade transactions in the yuan or the renminbi, reports said. Currently, some Shanghai companies have already agreed to settle deals with their Hong Kong and Indonesian trading partners. The move is widely seen as China’s attempt to globalize the use of the yuan in trade transactions, thereby lessening the use of the U. S. dollar. […]
In June, China reiterated its call for a new global reserve currency to replace the U.S. dollar. The People's Bank of China said there is a need to create an international reserve currency with a stable value in the long term to avoid the shortcomings of sovereign currencies for maintaining reserves. Read more here.
Monday, China has commenced a pilot scheme for companies to settle cross-border trade transactions in the yuan or the renminbi, reports said. Currently, some Shanghai companies have already agreed to settle deals with their Hong Kong and Indonesian trading partners. The move is widely seen as China’s attempt to globalize the use of the yuan in trade transactions, thereby lessening the use of the U. S. dollar. […]
In June, China reiterated its call for a new global reserve currency to replace the U.S. dollar. The People's Bank of China said there is a need to create an international reserve currency with a stable value in the long term to avoid the shortcomings of sovereign currencies for maintaining reserves. Read more here.
Thursday, July 2, 2009
WTO Cuts Trade Forecast, Sees Rising Protectionism
(Industry Week – Agence France-Presse)
Trading volumes of developed economies are now expected to shrink by 14% while those of developing economies contract 7%
The World Trade Organization (WTO) warned Wednesday of rising protectionism amid the economic crisis as it sharply cut its forecast for trade volumes of developed and developing economies this year.
Making its latest assessment of the global economic situation, the WTO also observed that the sharp contraction of the global economy registered in the first quarter this year “appears to be slowing down.” However, citing risks including rising unemployment and oil prices, the organization lowered its forecast of global trade contraction to 10% from its March forecast of a shrinkage of 9%.
Trading volumes of developed economies are now expected to shrink by 14% instead of 10% while those of developing economies would contract 7%, rather than the earlier forecast 2% to 3%. Read more here.
Trading volumes of developed economies are now expected to shrink by 14% while those of developing economies contract 7%
The World Trade Organization (WTO) warned Wednesday of rising protectionism amid the economic crisis as it sharply cut its forecast for trade volumes of developed and developing economies this year.
Making its latest assessment of the global economic situation, the WTO also observed that the sharp contraction of the global economy registered in the first quarter this year “appears to be slowing down.” However, citing risks including rising unemployment and oil prices, the organization lowered its forecast of global trade contraction to 10% from its March forecast of a shrinkage of 9%.
Trading volumes of developed economies are now expected to shrink by 14% instead of 10% while those of developing economies would contract 7%, rather than the earlier forecast 2% to 3%. Read more here.
Organic Products Certification
(CFIA)
As of June 30, 2009, the Organic Products Regulations require mandatory certification to the revised National Organic Standard for agricultural products represented as organic in international and inter-provincial trade, or that bear the federal organic agricultural product legend (or federal logo).
Links:
• List of Certification Bodies accredited by the Canadian Food Inspection Agency
• List of Conformity Verification Bodies
As of June 30, 2009, the Organic Products Regulations require mandatory certification to the revised National Organic Standard for agricultural products represented as organic in international and inter-provincial trade, or that bear the federal organic agricultural product legend (or federal logo).
Links:
• List of Certification Bodies accredited by the Canadian Food Inspection Agency
• List of Conformity Verification Bodies
Subscribe to:
Posts (Atom)