Daily Archives: September 15, 2009

Brazil May Block MERCOSUR-Israel FTA

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Working with the Palestinian National BDS Committee, Brazil’s Chamber of Deputies Committee on Foreign Relations and National Defense has recommended to the Brazilian Congress not to ratify the free trade agreement between Mercosur and Israel until “Israel accepts the creation of the Palestinian state on the 1967 borders”.

Israel’s foreign trade with the five Mercosur companies totaled over $2 billion in 2008. Imports totaled $545 million, including $294 million from Brazil, $150 million from Argentina, and $700,000 from Venezuela. Exports totaled $1.36 billion, including $1.17 billion to Brazil (mostly fertilizers and agrochemical products), and $125 million to Argentina.

To read more about the issue from an Israeli source, visit: Globes Online

To read more about the issue from a Palestinian source, visit: Maan News Agency

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Wheat Production Highest in Two Years

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WheatFor all of us carb-lovers, this is the year to devour.

The weather is key to the recent drop in wheat prices, the lowest in over two years. The U.S, China and Australia have all seen favorable weather causing a boost in production.

Wheat global output will exceed demand by 17.6 million tons in 2009-2010 as the  four largest exporters, U.S., Canada, Russia and Australia, are expected to expand production.

Wheat demand fell by 38 percent in the past year as the economy sank into a recession. Farmers expanded in its importing and exporting curving global trade. But the high supply will allow the price to drop in wheat, which will be beneficial as the economy begins to recover and consumers are more willing to spend their money on wheat and other grains.

Want more info, click here.

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