Ag News Briefs

The following are news briefs on issues affecting agriculture from around the nation and world.

(LAST UPDATED: 8/18/2017 AT 11:29 A.M.)

**

Argentina Gets Final OK to Ship Lemons to US

(Dow Jones) -- The 16-year wait of over for Argentine lemon producers wanting to sell fruit in the US. After a visit to Buenos Aires by Vice President Mike Pence, Argentina says the US Department of Agriculture has given final approval to a request by President Mauricio Macri to open the market to local lemons. "We estimate annual exports to reach about 20,000 tons and total about $50M," Argentina's foreign ministry says. The issue has long been a thorn in the side of bilateral ties and Macri can tout the opening as a political victory. "Argentina and the US continue conversations to quickly open the market for sheep and cattle meat, as well as other fruit and citric products," the ministry says.

**

South Korea Reopens to US Chicken, USDA Says

(Dow Jones) -- The US Agriculture Department trumpets South Korea's move to reopen to imports of US chicken meat and eggs, which have been shut out of the market off and on for the past three years. After a massive avian influenza outbreak that hit US chicken and turkey flocks in 2015, South Korea reopened to US poultry products in July 2016, only to again ban them in March after another case was confirmed in the US. But South Korea's been dealing this year with its own bird-flu outbreak, forcing flocks to be destroyed there, and the USDA says the country will temporarily drop duties for US eggs due to "a shortage of domestic supplies" in South Korea. In 2014, the last full year with no bird-flu related trade restrictions, the USDA says South Korea bought $122M in US poultry products.

**

Crop Chemicals Company Nufarm Dented by Nufarm

(Dow Jones) -- Crop chemicals company Nufarm's (NUF.AU) FY17 underlying net profit forecast missed Macquarie's estimate by 4% at the midpoint. The main culprit? Argentina. Macquarie thinks Nufarm's business there is suffering from competitive pressure, especially after a delayed start to the season, and that's casting a shadow over its entire operations in Latin America. "At its 1H result call, management said it anticipated Argentina would remain 'very challenging' in 2H and this looks to have played out," Macquarie says. Its 2H LatAm Ebit forecast drops to A$19M from A$27M, reflecting the lack of earnings from Argentina. NUF last traded at A$8.92.

(BE)

Copyright 2017 DTN/The Progressive Farmer. All rights reserved.