Latest news with #CCGA
Yahoo
7 days ago
- Business
- Yahoo
Canadian canola farmers brace for losses as China announces 75% tariff
China will hit Canadian canola with a 75.8 per cent tariff starting Aug. 14, sending benchmark futures tumbling four per cent to their lowest level since April. The Chinese ministry of commerce said Canadian canola imports constitute dumping, and so it decided to slap a preliminary tariff on the Canadian crop. Colin Carter, an agricultural economist and professor emeritus at the University of California, Davis, said this tariff from China was expected. 'This decision by China is a preliminary announcement and it's fully compliant with World Trade Organization laws,' he said. 'Unlike the tariffs that President Donald Trump is announcing, this is actually rooted in international trade law.' Rick White, chief executive of the Canadian Canola Growers Association (CCGA), said the tariff has farmers worried. 'It's a new risk that they (farmers) cannot manage in terms of one of our biggest export markets and I just don't think, at that price, any seed will be exported to China in the near future until this is dealt with,' he said. The tariff is expected to have a significant impact on the price of canola, with farmers set to face losses on unsold crops. Jerry Klassen, a commodities trader and market analyst, expects a steep decline in canola prices. 'The total effect of this tariff, I would estimate it to be in the range of $150 to $200 a tonne for canola,' he said. 'If a farmer has a couple thousand tonnes, it adds up pretty quickly for them.' China is the biggest importer of Canadian canola, so Canadian farmers will have to look for alternative markets for their canola with the Chinese market becoming a harder destination. 'China was buying between four and five million tonnes of Canadian canola per year,' Klassen said. 'That's the largest market for canola, and you cannot find other destinations to absorb that type of volume very quickly.' White, however, said opportunities exist for canola within Canada's borders. 'The biggest opportunity we have here is within our own borders, and that's the renewable diesel market,' he said. 'We are really pressing our Canadian government to get the clean fuel regulations right so that we can create a new industrial market for canola seed.' Klassen expects an immediate response from the Canadian government to this tariff and hopes a resolution can be found. China taps new sources for canola after falling out with Canada Trump hiked Canada's tariff rate to 35%, but just who's paying it remains a mystery 'I'm expecting a prompt response; I'm expecting the Canadian government officials to get on a plane and go over to China and negotiate this out,' he said. White said the CCGA has been working with the government regarding China's anti-dumping investigation and that he hopes the government keeps the farmers' best interests in mind while dealing with this issue. 'The government needs to be prepared; we are going to ask them to please pay attention to the economics of our canola farmers because the farmers did not create this problem,' he said, adding that producers now face weeks of uncertainty until Ottawa and Beijing decide whether to negotiate. 'Compensation should not be out of the question, depending on the losses incurred here by farmers.' Sign in to access your portfolio
Zawya
24-06-2025
- Business
- Zawya
Zain Omantel International takes home four major industry Awards
Carrier Community Global Awards and Global Brand Awards 2025 recognize ZOI's innovative subsea and terrestrial networks ZOI's impact on regional and international connectivity reinforces the Middle East's position as a global digital hub empowering organizations to scale and innovate Dubai, UAE – Zain Omantel International (ZOI), the joint venture between Zain Group and Omantel, has earned four prestigious international awards – underscoring its position as a connectivity powerhouse in the regional and global wholesale telecom arena. The Carrier Community Global Awards (CCGA) recognized ZOI for its unique model integrating terrestrial and subsea infrastructure across eight markets, awarding: ' Best Data Connectivity Innovative Provider of the Year' – for advancing pan-regional connectivity with integrated subsea-terrestrial networks and high-capacity solutions for hyperscalers and carriers. 'Best Subsea Cable Operator of the Year' – for its leadership in subsea investments, including strategic participation in G2A, AAE-1, and Oman Australia Cable. 'Middle East Regional Connectivity Operator of the Year' – for delivering the only fully operator-owned pan-Middle East fibre network, with a continuous footprint linking the Indian Ocean, Arabian Sea, and Red Sea across key markets. CCGA honours outstanding achievements in the telecom wholesale industry and its ecosystem of partners worldwide. Evaluated by a panel of global telecom experts from more than 100 companies and awarded organisations that demonstrated excellence in innovation, capacity, and connectivity solutions. Furthermore, at the Global Brand Awards 2025, ZOI was named ' Best New Telecom Connectivity Brand – Middle East '. The Global Brand Awards are presented by Global Brands Magazine, a UK-based publication that receives over 8 million annual views and is recognised for honouring excellence across branding, leadership, and innovation across various sectors worldwide. Launched in May 2023, ZOI unites Zain Group's regional scale and digital leadership with Omantel's global infrastructure, combining over 20 international subsea cable systems with expansive terrestrial reach. Sohail Qadir, CEO of ZOI commented, 'These awards reflect ZOI's unique role as a driver for innovation in local and global connectivity. We operate the region's highest-ranked IP network, as measured by CAIDA, and continue to invest in both terrestrial and subsea cable infrastructure shaping how the Middle East connects with the world.' Sohail Qadir concluded: 'ZOI's success is driven by our unmatched ability to connect key markets and global hubs through resilient international subsea and regional terrestrial infrastructure. We enable connectivity providers to execute seamless, high-performance strategies that drive socio-economic growth. In doing so, we reinforce the Middle East's position as a global digital hub and accelerate how organizations connect, scale and innovate.' ENDS About Zain Omantel International (ZOI) Zain Omantel International (ZOI) is the Middle East's premier wholesale powerhouse serving regional operators, international carriers, global hyperscalers and cloud providers seeking services within the region and beyond. The first-of-its-kind joint venture signifies a substantial advancement in the telecommunications industry and is positioned as the global powerhouse leveraging Zain's regional scale and success in the retail and digital arenas, combined with Omantel's exceptional wholesale capabilities and comprehensive international subsea and terrestrial networks. ZOI manages all international wholesale requirements of Zain and Omantel operations in eight countries, serving over 50 million customers.
