Raw and white sugar futures advanced as analysts revised the 2026/27 global balance toward larger deficits. Traders are also assessing below-average monsoon forecasts in India and the potential effects of El Niño on production in India, Brazil and Thailand.
Australian wine export volumes to the UK fell to their lowest level in 25 years during the 12 months to June, Wine Australia data shows. The decline affects a market that has historically ranked among Australia’s leading wine destinations.
Rice prices in Nigeria have fallen to N48,000 per 50kg bag as cheaper imports enter under a new federal government waiver. The decline offers relief to consumers but increases pressure on local farmers already facing rising production costs.
Russia’s smaller sugar beet area is not expected to leave processors short of raw material. Pravda.ru reports that sugar output could match or exceed last year’s level, limiting the potential for higher procurement prices.
Vietnam's wood and wood product exports reached $10.2 billion in the first seven months of 2026, up 5.5% year on year, but high value-added furniture fell 6.2% under pressure from US tariff policy. Wood chips and pellets carried the growth, with chip shipments hitting nearly 7.8 million tonnes worth about $1.3 billion in the first half. Industry figures warn the two segments consume up to 80% of plantation wood while returning only $3-4 billion.
Turkey produced 232,238 tonnes of chicken meat in June 2026, up 14.7% year on year and 14.8% from May, according to TÜİK data. Egg output increased 21% year on year to 1,838,966,000 units, although it declined 1% month on month.
Extreme heat, prolonged drought and wildfires are reducing forecasts for European grains, oilseeds, vegetables, grapes and olives. Spain expects grain production to fall to just over 18.5 million tonnes in 2026-2027, while the EU has lowered its outlook for several summer crops.
Italy is moving toward an extended producer responsibility regime covering textiles and footwear, with final approval expected by the end of 2026. Foreign brands, ecommerce sellers and marketplaces may face registration, reporting and environmental contribution obligations from the first kilogram placed on the Italian market.
Sales of Italian extra virgin olive oil reached 13,000 tonnes in July, up from 9,000 tonnes in June, as bulk prices settled below €5 per kilogram in the main southern regions. National stocks fell to 99,000 tonnes, but the sell-down is uneven: Puglia has cleared 40% of its January stock while Calabria has sold only 22%.
Italy’s industrial production fell 1% month on month and 0.6% year on year in June, missing analysts’ expectations. Automotive manufacturing diverged sharply, rising 22.7% in the first half and 10.5% year on year in June.
Malaysian crude palm oil futures closed higher on Bursa Malaysia Derivatives, with the nearby contract moving above RM4,750 per metric tonne. Bernama linked the advance to support from stronger crude oil prices.
Russia’s Buryatia exported more than 14,000 tonnes of rapeseed meal to China from the start of the year through August 1. Shipments increased 21% year on year, while the region also supplied 294 tonnes of sunflower meal to Mongolia.
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