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US Farmland Price Growth Slowest Since 2010
21.10.2013 Growth in US farmland prices fell to its lowest in more than three years, sapped by weaker crop prices, which are prompting farmers to cut back on machinery purchases too. A farmland price index compiled by Nebraska-based Creighton University fell to 50.9 this month, the lowest reading since January 2010. The figure, down from 54.0 in September, was only just above the 50.0 level which indicates no growth at all, with figures below that meaning falling prices, and comes as the market enters its key autumn sales period. Prices are already falling in some major agricultural states, including Illinois, Kansas, Nebraska and North Dakota, which suffered a particularly steep decline in its farmland market. However, values are still rising – albeit at relatively slow rates – in the likes of Missouri and Iowa, the top corn and soybean producing state, where 80 acres of land sold last week for $17,600 an acre, which Hardin County Savings Bank claims is a record. ‘Major impact’ Ernie Goss, the Creighton economist behind the survey, attributed the market’s deceleration to “weaker agriculture commodity prices”, with “poor weather” contributing to fall-offs in states such as North and South Dakota, where early snowfalls are viewed “likely to spill over into the broader economies”. Todd Douglas, chief executive of a South Dakota bank, said that the “record snowfall in the western part of the state is estimated to have caused up to 25,000 cattle deaths which will have a major impact on producers in the areas hit hardest by the storm”. The pullback in agriculture sector prosperity was also evident in an index figure for agriculture machinery which came in at 44.6, its lowest since March 2010, and indicating market shrinkage. “[Machinery] sales are declining and inventories are growing as farmers pull back on their purchases of big ticket items,” Professor Goss said. ‘Much slower pace’ Professor Goss forecast continued softness in the farmland market compared with 2011 and 2012, when annual price growth reached 20-30%. “Clearly, farmland price growth and cash rent expansions in the months ahead will not be as healthy as has been experienced in the past couple of years,” he said. Indeed, bankers questioned by the university forecast rises of 2.5% in farmland cash rents over the next 12 months, down from an expectation of 9.3% when surveyed six months ago. “Bankers clearly expect farmland prices and rents to grow at a much slower pace over the next year,” he said. agrimoney Continue reading
AREVA Awarded a Contract For The Construction Of A Biomass Power Plant In The Philippines
PARIS–(BUSINESS WIRE)–October 16, 2013– Regulatory News: AREVA (Paris:AREVA) and its partner Engcon Energy Philippines have been awarded a contract by the Green Innovations For Tomorrow Corporation, an independent power producer, for the construction of a biomass power plant in the Philippines, located 200 kilometers north of Manila. Using rice husk, the plant will have an installed capacity of 12 MW and will be able to supply electricity to around 10,000 households per year. AREVA and its partner will be responsible for the engineering, the design and the installation of the biomass power plant. They will also provide the main equipment and will perform testing before the commissioning. This power plant, scheduled for completion by mid-2015, is the first AREVA biomass project in the Philippines. The group has already delivered two similar units in Thailand where another two plants are currently under construction. Louis-François Durret, CEO of AREVA Renewables, said: “This new success will strengthen our position in Southeast Asian, a booming market where AREVA intends to become a reference biomass power plant provider.” AREVA is the leading manufacturer of biomass power plants in the world having delivered 100 power plants for the largest installed base generating of more than 2,500 MW. MORE ABOUT AREVA AREVA supplies advanced technology solutions for power generation with less carbon. Its expertise and unwavering insistence on safety, security, transparency and ethics are setting the standard, and its responsible development is anchored in a process of continuous improvement. Ranked first in the global nuclear power industry, AREVA’s unique integrated offering to utilities covers every stage of the fuel cycle, nuclear reactor design and construction, and operating services. The group is actively developing its activities in renewable energies — wind, bioenergy, solar and energy storage — to become a European leader in this sector. With these two major offers, AREVA’s 46,000 employees are helping to supply ever safer, cleaner and more economical energy to the greatest number of people. Tour AREVA — 1 Place Jean Millier — 92400 COURBEVOIE — France — Tel : +33 (0)1 34 96 00 00 — Fax : +33 (0)1 34 96 00 01 CONTACT: AREVA Press Office Julien Duperray Katherine Berezowskyj Aurélie Grange Jérôme Rosso Alexandre Thébault T: +33 (0)1 34 96 12 15 press@areva.com or Investors Relations Marie de Scorbiac, T: +33 (0)1 34 96 05 97 marie.descorbiac@areva.com Philippine du Repaire, T: +33 (0)1 34 96 11 51 philippine.durepaire@areva.com SOURCE: AREVA Continue reading
Inter-American Development Bank Study Points At Latin America As The Future Of Renewable Energy
By Patricia Rey Mallén on October 17 2013 Renewable energy has been the subject of never-ending debate: Is it profitable? Is it better? Where is it headed. There may be no answers yet for those questions, but a report by the Inter-American Development Bank points out where the future of the energy may be: in Latin America. The region concentrated 6 percent in 2012 of the world’s investment in green energy, or $16 billion out of a total of $268 billion. Analysts from the IADB point at Latin America and the Caribbean as the “new frontier” for investment. “The lowering of prices and the better climate for investment makes Latin America an interesting and affordable market,” said Greg Watson, project specialist at the Inter-American Development Bank. According to the report, the political climate is also improving, as 110 green energy policies are identified, including tax incentives, feed-in tariffs, and other policies. “Policy frameworks are expanding and strengthening in Latin America and the Caribbean,” said Nancy Lee, general manager of the bank’s Multilateral Investment Fund. “The rapidly falling costs of clean technologies such as solar and wind power combined with an improved investment climate means that clean energy generation in the region is now truly affordable.” The favorable political climate has helped production capacity grow enormously. In 2007, the region had 1.5 gigawatts of renewable capacity, which has grown 296 percent since, reaching 26.6GW in 2012. Most of the investment went to Brazil, which received around $9.2 billion, although the percentage is lower than in previous years: It used to get close to 80 percent of the investment, and in 2012 that rate dropped to 55 percent. The reasons, as pointed out by the study, are that Brazil reduced its budget for clean energy 36 percent. Chile, on the other hand, multiplied its green energy budget by four, from $500 million in 2011 to $2.1 billion in 2012, making it the most-invested country in the region. Other countries that increased their investment in green energy are the Dominican Republic, which raised the investment from $47 million in 2011 to $248 million in 2012, and Uruguay, which raised it from $28 million to $118 million in the same time. The study singles out a geopolitical factor that explains the region’s interest in developing renewable energies. “Many Latin American countries want to stop importing oil, coal and natural gas, so they do not depend as much on other countries,” said Ethan Zindler, head of policy analysis at Bloomberg New Energy Finance, a provider of data, research and news on the clean and low-carbon energy sector. “That makes them want to invest more in energies they can produce themselves.” Continue reading
