Latest news with #GusTrompiz
Zawya
08-08-2025
- Business
- Zawya
World food prices rise to two-year high in July, FAO says
PARIS - World food commodity prices rose in July to their highest in more than two years, driven by rising international prices for meat and vegetable oils, the United Nations' Food and Agriculture Organization said on Friday. The FAO Food Price Index, which serves as a global benchmark for food commodity prices, averaged 130.1 points in July 2025, marking a 1.6% increase from June, FAO said. That was the highest reading since February 2023, though the index was 18.8% below its peak of March 2022, which followed Russia's full-scale invasion of Ukraine. In July, gains for meat and vegetable oil prices outweighed declines observed in cereal, dairy and sugar, FAO said. (Reporting by Gus Trompiz; Editing by Alex Richardson)
Zawya
25-06-2025
- Business
- Zawya
Egypt bought several hundred thousand tons of wheat for July/Aug delivery, sources say
Egypt's state grains buyer, one of the world's largest wheat importers, has purchased several hundred thousand metric tons of wheat in the past weeks for delivery in July and August, traders and sources told Reuters on Tuesday. The exact volume of the purchases was still unclear, but all sources referred to several hundred thousand tons. Egypt's wheat purchases had fallen sharply in the first half of this year after hefty shipments in the second half of 2024. One said the sale was for between 300,000 and 400,000 tons, another that a state-owned company was looking for 600,000 tons and a third that both state-owned and private buyers had sold a total of between 800,000 and 1 million tons. The sales would be of Russian, Ukrainian and Romanian origins, they said. Prices reported ranged from $250 to $258 per ton, cost and freight included. The state buyer told Reuters last week it was in advanced talks to secure hundreds of thousands of tons of wheat with suppliers from other EU origins, but had not named the countries. (Reporting by Sybille de La Hamaide and Gus Trompiz in Paris, Mohamed Ezz in Cairo, Sarah El Safty in Dubai, Olga Popova in Moscow, Michael Hogan in Hamburg and Pavel Polityuk in Kyiv; Editing by Jan Harvey)
Medscape
02-06-2025
- General
- Medscape
Latvia Reports Bird Flu in Backyard Poultry
PARIS (Reuters) - Latvia has reported a first outbreak of highly pathogenic H5N1 avian influenza among poultry, the World Organisation for Animal Health said on Monday. The outbreak occurred in a flock of 190 backyard poultry birds in the district of Birzgales, Paris-based WOAH said in a notice, citing Latvian authorities. (Reporting by Gus Trompiz, Editing by Louise Heavens) Reuters Health Information © 2025 Reuters Ltd.
Yahoo
16-05-2025
- Business
- Yahoo
France's CMA CGM to redeploy fleet to avoid U.S. port fees on Chinese vessels
By Gus Trompiz PARIS (Reuters) -French shipping group CMA CGM will reorganise its global fleet to avoid U.S. port fees on Chinese-built vessels that are due to take effect from October, the company's finance director said. The port charges are another operational headache for shipping firms wrestling with the fallout from U.S. tariffs, though adjustments made by Washington after an industry backlash have made the fee scheme less disruptive than feared, Ramon Fernandez, CMA CGM's chief financial officer, told Reuters. U.S. President Donald Trump's administration aims to use the port fees to counter China's dominance in global shipbuilding and support a revival of U.S. maritime transport. "We have enough ship capacity to adapt to this situation and avoid paying fees," Fernandez said in an interview, adding that less than half of CMA CGM's fleet of around 670 ships were Chinese-built. On a complex scale of fees, Chinese companies operating ships built in China face the steepest levies for calling at U.S. ports. All shipping firms including China's COSCO would adapt to the fees, Fernandez added during a call with reporters, without commenting on the potential impact on Ocean Alliance, a vessel-sharing agreement in which CMA CGM and COSCO are among the partners. The world's third-largest container shipping line, CMA CGM, was hailed by Trump for a plan to invest $20 billion in the United States. Reporting first-quarter results, CMA CGM said a rush to ship goods before the U.S. tariffs announcement on April 2 had supported a 4.2% year-on-year rise in its maritime volumes, contributing to an increase in group sales and profits. Controlled by the French-Lebanese Saade family, CMA CGM also has a large logistics business and growing media interests. Echoing its peers, CMA CGM said the escalation in tariffs in April had stifled trade between China and the U.S., before a revival in demand this week following a Sino-American agreement to scale back tariffs temporarily. The group saw the cancellation of around half of bookings for May shipments between China and the United States prior to an upturn this week, Fernandez said. "Everyone is expecting trade in June to be much more active than was feared just a few days ago." He declined to give an outlook for full-year volume growth in container shipping, citing uncertainty over how the on-off trade war will play out.
Yahoo
16-05-2025
- Business
- Yahoo
France's CMA CGM to redeploy fleet to avoid U.S. port fees on Chinese vessels
By Gus Trompiz PARIS (Reuters) -French shipping group CMA CGM will reorganise its global fleet to avoid U.S. port fees on Chinese-built vessels that are due to take effect from October, the company's finance director said. The port charges are another operational headache for shipping firms wrestling with the fallout from U.S. tariffs, though adjustments made by Washington after an industry backlash have made the fee scheme less disruptive than feared, Ramon Fernandez, CMA CGM's chief financial officer, told Reuters. U.S. President Donald Trump's administration aims to use the port fees to counter China's dominance in global shipbuilding and support a revival of U.S. maritime transport. "We have enough ship capacity to adapt to this situation and avoid paying fees," Fernandez said in an interview, adding that less than half of CMA CGM's fleet of around 670 ships were Chinese-built. On a complex scale of fees, Chinese companies operating ships built in China face the steepest levies for calling at U.S. ports. All shipping firms including China's COSCO would adapt to the fees, Fernandez added during a call with reporters, without commenting on the potential impact on Ocean Alliance, a vessel-sharing agreement in which CMA CGM and COSCO are among the partners. The world's third-largest container shipping line, CMA CGM, was hailed by Trump for a plan to invest $20 billion in the United States. Reporting first-quarter results, CMA CGM said a rush to ship goods before the U.S. tariffs announcement on April 2 had supported a 4.2% year-on-year rise in its maritime volumes, contributing to an increase in group sales and profits. Controlled by the French-Lebanese Saade family, CMA CGM also has a large logistics business and growing media interests. Echoing its peers, CMA CGM said the escalation in tariffs in April had stifled trade between China and the U.S., before a revival in demand this week following a Sino-American agreement to scale back tariffs temporarily. The group saw the cancellation of around half of bookings for May shipments between China and the United States prior to an upturn this week, Fernandez said. "Everyone is expecting trade in June to be much more active than was feared just a few days ago." He declined to give an outlook for full-year volume growth in container shipping, citing uncertainty over how the on-off trade war will play out. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
