Tag Archives: food
Sustainable Asset Management And UAE Ambassador Tours Sustainable Agarwood Plantations
The UN FAO (Food and Agriculture Organisation of the UN) estimate that exports of Agarwood and Oud Oil from Singapore total around US$1.2 billion annually, some analysts put this figure higher at around US$3 billion. Singapore (PRWEB UK) 16 June 2013 The UN FAO (Food and Agriculture Organisation of the UN) estimate that exports of Agarwood and Oud Oil from Singapore total around US$1.2 billion annually, some analysts put this figure higher at around US$3 billion. What is certain is that Singapore and Hong Kong are the most important trading posts in Asia for one of the world’s rarest and most valuable natural commodities. Uncertainty on how much of this rare and mystical product arrives in Singapore, and in many cases where it actually comes from, has caused international concern. Since the year 2000 harvesting of wild Agarwood trees and export of its products has been banned by CITES (the Convention on International Trade on Wild Fauna and Flora) as an endangered species. Monitoring of the trade by TRAFFIC (The Wildlife Trade Monitoring Network) has led some analysts to predict there is less than two years of wild supplies of Agarwood left; yet this largely illegal industry carries on unabated. Currently the world’s largest estimated importer and distributer of Oud is the UAE, where Oud is an everyday necessity in the culture and used regularly in Arabic homes. Recognising the importance of ensuring that supplies to the Gulf could be both sustainable and legal today, and working to ensure continued sustainable supplies of this ever diminishing natural resource for the future, the UAE Ambassador to Singapore his Excellency Mohamed A. Al Qubaisi decided it was time he learned more about how this essential element of everyday Middle East life was obtained. Singapore based Sustainable Asset Management, specialist advisors and analysts to the plantation and Agarwood industry, were honoured to assist and recommended the ambassador visit industry leading sites in Thailand: tree nurseries, sustainable plantations, distilleries, processing plant and retail shops, selecting an innovative company in the sector Asia Plantation Capital (APC) as his focus so he could see first-hand the complete soil to oil process. Mark Wills, Managing Director of Sustainable Asset Management, accompanied the Ambassador and his family on his fact finding mission to Thailand where the group spent three days touring the nurseries, plantations, distilleries and finally a retail site of l’Atelier Du Bois the brand owned by APC. Along the way the ambassador not only witnessed the ground breaking technologies developed and researched by APC but also listened first hand to the managers’ detailed explanations of their advanced processes from soil to oil, resulting in a 100% pure and organic high quality sustainable Oud oil with full CITES certification. During the trip Ambassador Mohamed A. Al Qubaisi kindly shared some insights into the Agarwood relationship with consumers in the Gulf where apparently you will rarely find a house in any GCC country without either Oud or Agarwood being used; these products remain as popular as ever and demand is even growing. The Ambassador explained that Oud oil is more important than Agarwood chips and how for consumers “the priority is the smell and the durability of the fragrance note” people “know very little of its origins, except for the fact that it is rare and very expensive and prices keep increasing.” This rarity brings with it additional problems of local traders who will often try and sell sub-standard product and pass this off as high quality. “There are people who look to copy the product, especially chips and make alternatives which are not well regarded.” Apparently local buyers are also generally unaware of the global protection afforded to Agarwood and how the trade is controlled with CITES certificates, his Excellency Mohamed A. Al Qubaisi was enthusiastic “to get a better understanding of where Oud comes from and how it is made, which I now know. I would be very happy to help citizens in the Gulf understand the importance of sustainable supplies to safeguard an important aspect of our culture for generations to come.” Roger Hargreaves Chairman of APC Thailand stated “We are honoured that his Excellency Mohamed A. Al Qubaisi the Singapore UAE Ambassador chose our company and plantations to visit and gain a wider understanding of the source and fast growing industry behind the production of sustainable Oud oil which is driven in part by the demand in the Gulf and wider Middle East. Additionally now that Oud has become a mainstream fragrance with almost weekly launches by the global fragrance mega brands of a new Oud fragrance, it is vital that responsible countries like the UAE take a keen interest to ensure legal and sustainable on-going supplies for their citizens. APC were one of the first plantation companies to secure a license to import and distribute Oud in the UAE and are now entering into exclusive supply agreements with responsible UAE based importers to secure the long term supply of sustainable and natural Oud into the region, with fully legal CITES certified products and supplies. We were equally honoured that the ambassador considered the quality of fragrance and consistency of our oil to be extremely high quality, rarely encountered from plantation produced Oud oils versus wild oil.” Ambassador Mohamed A. Al Qubaisi concluded “I now have a greater understanding of its origins and the process to bring this to market, something that most people in the GCC countries will not know. Clearly the trees are in decline and that will have an effect on something that is a significant part of our culture. I am very happy that APC is providing a long term sustainable solution to help supply the market with a high quality and consistent product and that will help preserve an important part of our culture for generations to come.” APC and Sustainable Asset Management look forward to further co-operation at a diplomatic and commercial level in promoting the qualities and importance of sustainably produced Oud oil for the Middle East market and plan a series of road shows in the Gulf after Ramadan to promote the qualities of their oil, and to educate the community and importers on the importance of ensuring they buy sustainably sourced CITES certified products to safeguard their future supply and continued enjoyment of one the world’s rarest and most mystical natural products. — Questions & Answers During the trip the Ambassador wanted to answer some questions posed by Mark Wills regarding his visit and the current state of the agarwood industry:- Q. Is Agarwood still popular in the Middle East today? A. You will rarely find a house in any GCC country without either Oud or Agarwood chips being used. So yes it is still as popular today as it has ever been and demand seems to be growing. Q. To what extent does he think people in the Middle East are aware of the origin of Agarwood? A. They know very little of its origins, except for the fact that it is rare and very expensive and prices keep increasing. There are many traders who will try and sell sub-standard product and pass this off as high quality. There are people who look to copy the product, especially chips and make alternatives which are not well regarded. Q. Is there a preference to the country of origin? A. No. The priority is the smell and the durability of the fragrance note. Q. What are your views on the long term sustainability of Agarwood? A. I now have a greater understanding of its origins and the process to bring this to market, something that most people in the GCC countries will not know. Clearly the trees are in decline and that will have an effect on something that is a significant part of our culture. I am very happy that APC is providing a long term sustainable solution to help supply the market with a high quality and consistent product and that will help preserve an important part of our culture for generations to come. Q. What is used more in the GCC oil or chips A. There are more consumers of oil than chips. The largest part of the market is by far oil. Q. Are buyers in the GCC aware that Agarwood product requires CITES certification? A. No. They would not be aware of this. Q. What did you hope to achieve from the trip? A. I wanted to get a better understanding of where Oud comes from and how it is made, which I now know. I would be very happy to help you in whatever ways I can especially helping citizens in the Gulf understand the importance of sustainable supplies to safeguard an important aspect of our culture. The UAE Ambassador to Singapore his Excellency Mohamed A. Al Qubaisi Continue reading
Expert: 2013 Ohio Farmland Value Projected To Increase
Cropland values in Ohio increased in 2012 and are expected to continue on an upward trend in 2013 despite the drought that devastated growers this year. December 12, 2012 Cropland values in Ohio increased in 2012 and are expected to continue on an upward trend in 2013, despite the drought that devastated growers this year, an Ohio State University Extension expert said. Ohio cropland value rose 13.6% this year, with bare cropland averaging $5,000 an acre, said Barry Ward, production business management leader for OSU Extension. Ward, citing statistics from the Ohio Agriculture Statistics Service, expects the trend to continue next year, with “projected budgets for Ohio’s primary crops for 2013 showing the potential for strong profits.” This is true, he said, in spite of the drought of 2012, which devastated growers and producers across the country, particularly in the Midwest including Ohio. “We’re expecting the potential for profitability (next year) with corn looking like it will be king again,” Ward said. “We’ll have farmers with strong balance sheets, which will drive land values as well. “With those strong balance sheets in spite of the drought, many farmers will continue to be in the land buying mode.” Ward spoke last week during Ohio State University’s College of Food, Agricultural, and Environmental Sciences kickoff of its 2013 Agricultural Policy and Outlook series. The event initiates a series of county meetings to be held statewide next year. Dates and times for the meetings will be announced at a later date. OSU Extension is the outreach arm of the college. The December 3 event featured presentations from experts from the college’s Department of Agricultural, Environmental and Development Economics (AEDE), who discussed issues the food and agricultural community should expect in 2013, including information on policy changes, key issues and market behavior with respect to farm, food and energy resources, and the environment. Because of the moderate to severe drought conditions many growers experienced, profit margins were highly variable, said Ward, who is also an AEDE assistant extension professor. But crop insurance proceeds will alleviate some of the revenue shortfall and financial stress due to the drought Ward said, noting that the last five year period has resulted in “some of the most profitable years in the last 50 years of crop production.” “With many dollars and buyers chasing farmland, it isn’t surprising to see land values increase substantially in 2012,” Ward said. “Crop profitability along with low interest rates have been the primary drivers in the run-up in cropland values.” Depending on land production capabilities, returns to land are projected to be $204 to $489 per acre for Ohio corn next year, he said. Returns to Land for soybeans are projected to be $102 to $295, with Returns to Land for wheat projected at $122 to $288, Ward said. The projections are based on OSU Extension Ohio Enterprise Budgets, and assume current prices of inputs and present December and September and November 2013 forward contract prices, respectively, he said. OSU Extension has a long history of developing enterprise budgets that can be used as a starting point for producers in their budgeting process. Farmers can find enterprise budgets for 2013 here . The Website is offered by Ohio State University’s AEDE. The budgets are downloadable Excel spreadsheets. Users can input their production and price levels to calculate their numbers. The budgets feature color-coded cells that allow users to plug in numbers to easily calculate bottom lines for different scenarios. Source: Ohio Ag Connection Continue reading
China’s Food Demand Grows
China’s food demand grows Dow Jones Newswires 05/30/2013 @ 10:37am China’s rising hunger is driving ever-larger acquisitions of global food assets as the shifting dietary profile of the world’s most populous nation increasingly puts meat, dairy and processed-food producers into play. Underscoring the trend, China’s Shuanghui International Holdings Ltd. on Wednesday said it agreed to acquire Smithfield Foods Inc. (SFD) of the U.S. for $4.7 billion, aiming to secure more pork for Chinese markets. The proposal is the largest in more than a decade of Chinese ventures to snap up food companies abroad. Other purchases have included state-owned Cofco Corp. buying Australian sugar producer Tully Sugar Ltd. last year for about $140 million, and Shanghai-based Bright Food (Group) Co.’s 2011 purchase of Manassen Foods Australia Pty. Ltd. for an estimated $522 million including debt. Bright Food said last year it would acquire control of U.K. cereal maker Weetabix Food Co. The purchases are part of a broader effort by Beijing to secure the raw materials needed to feed its fast-growing economy. Chinese state-controlled companies in recent years have struck big energy and mining deals. But many of the country’s food investments have had lower profiles. Shuanghui’s bid for Smithfield, the world’s largest hog farmer and pork processor, signals that not just any dish will do. As China grows more wealthy, relatively expensive protein is becoming a bigger portion of the domestic diet. China’s meat consumption would still need to rise about 8% from last year’s level just to catch up to South Korea’s, according to the United Nations’ Food and Agriculture Organization. “It is part of the broad Chinese strategy to invest the country’s current-account surplus into strategically important commodities. And going forward, more transnational acquisitions are possible in meat and dairy,” said Paul Deane, the senior agricultural economist at Australia & New Zealand Banking Group Ltd. (ANZBY, ANZ.AU, ANZ.NZ). Cofco Chairman Ning Gaoning told reporters in March that his company is seeking acquisitions and investment opportunities in more consumer brands in the U.S., Australia and Brazil, suggesting that as Chinese palates get more adventurous, the door will open for imports of more premium foods. Australia may be a favored destination given its resources, Mr. Deane said. Chinese investment in Australia and New Zealand food and agribusiness targets has totaled $1.1 billion since 1995, according to research firm Dealogic. Beef may be a prime target for Chinese buyers, said Rabobank analyst Chenjun Pan. Chinese beef consumption has been rising steadily, with domestic prices more than doubling since 2007, she said. The U.S. Department of Agriculture projected that China’s beef imports would rise to a record 175,000 metric tons this year. Industry data show that China imported about 61,000 tons last year. Milk and other dairy products would also make logical Chinese acquisitions, said Li Guoxiang, a researcher at the state-backed Rural Development Institute of the China Academy of Social Sciences. “If we only rely on domestic resources to develop the animal-husbandry industry, China’s grain production will face challenges, and there will be more serious environmental pollution problems,” Mr. Li said. Relying on foreign resources may also assuage government concerns about having enough food, he said. As rising wealth collides with a string of scandals over tainted food in China, prospective acquirers could also shop for premium processed foods abroad, including olive oil and meat and dairy products, such as cheese and yogurt, Ms. Pan said. “The domestic market can’t convince consumers of food safety, so there’s a lot of space for such acquisitions.” -David Winning in Sydney, Sameer Mohindru in Singapore and Zhoudong Shangguan in Beijing contributed to this article. Write to Chuin-Wei Yap at Chuin-Wei.Yap@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires (END) Dow Jones Newswires May 30, 2013 10:51 ET (14:51 GMT) Continue reading
