Key points for the fortnight ending 07/02/2014 include:
- A new Farm Bill is close to reality in the US, where President Obama is expected to sign the Agricultural Act of 2014 into law today (US time).
- Commodity prices shrugged off a late increase in offer volumes and the Chinese New Year holiday at this week’s GlobalDairyTrade auction (event 109), where the GDT Price Index rose 0.5%.
- European dairy giant Arla Foods has announced a €332million (A$488m) investment program aimed at boosting capacity and improving energy and water efficiency.
- US regulator Commodity Futures Trading Commission (CFTC) has registered NZX as a Foreign Board of Trade under the US Commodity Exchange Act.
- Bulla Dairy Foods (Bulla) announced last week that it would build a new milk separation plant at its Forest Street, Colac site.
- United Dairy Power (UDP) earlier this week confirmed that its founder Tony Esposito had agreed to sell the business to Hong Kong businessman William Hui.
- Saputo (SAP) announced to the Australian Stock Exchange (ASX) on 6 Feb that it had a 79.13% interest in Warrnambool Cheese & Butter (WCB).