Connect with us

Foreign News

World Food Prices Drop for 5th Consecutive Month – FAO

Published

on

Share

The UN Food and Agriculture Organisation (FAO) has reported that world food prices have fallen for a fifth consecutive month but are still nearly eight per cent higher than a year ago.

FAO, in its latest Food Price Index published on Friday, showed that the prices of five commodities – cereals, vegetable oil, dairy, meat and sugar – were lower in August than in July.

The Index tracks the monthly international prices of these breadbasket staples.

It averaged 138.0 points in August, down nearly two per cent from July, though 7.9 per cent above the value a year before.

The UN food agency said the decline in cereal prices reflected improved production prospects in North America and Russia, and the resumption of exports from Black Sea ports in Ukraine.

A landmark agreement to unblock Ukraine grain exports amid the ongoing war was signed in July by the country, Russia, Turkey and the UN.

The price of rice was stable on the average in August, while quotations for coarse grains, such as maize, increased marginally.

Vegetable oil prices decreased by 3.3 per cent, which is slightly below the August 2021 level.

FAO attributed this to increased availability of palm oil from Indonesia, due to lower export taxes, and the resumption of sunflower oil shipments from Ukraine.

Although dairy prices saw a two per cent drop, they remained 23.5 per cent higher than in August 2021.

The price of cheese increased for the tenth consecutive month, though milk prices “eased” following expectations of increased supplies from New Zealand, even amid projections of lower production in Western Europe and the US.

The price of meat declined by 1.5 per cent but remained just over eight per cent higher than the value last August.

International quotations for poultry fell amid elevated export availabilities, and bovine meat prices declined due to weak domestic demand in some top exporting countries, while pig meat quotations rose.

Sugar prices also hit their lowest level since July 2021, largely due to high export caps in India and lower ethanol prices in Brazil.

FAO has also issued its global cereal production forecast for this year, which projects a decline of nearly 40 million tonnes, or 1.4 per cent from the previous year.

The bulk of this decline mainly concerns coarse grains, with maize yields in Europe expected to drop 16 per cent below their five-year average level due to the exceptional hot and dry weather conditions affecting the continent.

By contrast, FAO expects there will be a “negligible drop” in worldwide wheat production resulting from expected record harvests in Russia and conducive weather conditions in North America.

Global rice production is also expected to decline by 2.1 per cent from the all-time high reached in 2021. (NAN)

Foreign News

Putin Demands Ukrainian Troop Withdrawal in Exchange for Peace

Published

on

Share

Russian President Vladimir Putin on Friday said the withdrawal of Ukrainian troops from the territories annexed by his country is a prerequisite for any settlement of the ongoing war.

Putin said this during a visit to the Foreign Ministry in Moscow ahead of the Ukraine peace summit in Switzerland at the weekend.

If Ukraine also renounces membership of NATO, Russia would be prepared to cease fire and enter negotiations immediately.

His speech was clearly aimed at the current G7 summit in Italy and the Ukraine event opening on Saturday in the Swiss mountain hotel resort of Bürgenstock.

The affiliation of the Ukrainian regions of Donetsk, Luhansk, Zaporizhzhya and Kherson to Russia is no longer in question, Putin said.

Ukraine should withdraw its army from the parts of these regions that it still controls, he added.

The Kremlin leader said he was stating Russia’s minimum demands in order not to freeze the conflict but to resolve it once and for all.

At the same time, Putin repeated the demands he made when he ordered the invasion of the neighbouring country in February 2022: The creation of a neutral, non-aligned and nuclear-free Ukraine.

The country should also be disarmed and “denazified,” said Putin, using a term widely interpreted in the West as meaning the instalment of a Russia-approved leadership in Kiev.

Russia currently occupies around a fifth of Ukraine’s territory, including the Crimean peninsula, which it illegally annexed in 2014.

Ukraine has so far adhered to its stated goal of retaking the occupied territory, including Crimea.

President Volodymyr Zelensky is also calling for the prosecution of Russian war crimes and Russian reparations for the destruction caused. (dpa/NAN) 

Continue Reading

Foreign News

Biden Accuses Trump of Using ‘Hitler’s Language in Newspaper Mock-up

Published

on

Share

U.S. President Joe Biden has accused his predecessor and likely election opponent Donald Trump of using Nazi rhetoric following the publication of a video referencing a “unified Reich.’’

Trump is using “Hitler’s language’’.

That’s not America’s, Biden said in a campaign video released.

In the short clip, the Democrat held a phone in his hand and said, referencing the video, is this on his official account? Wow.

Earlier, on Monday, Trump had shared a video which was later deleted on his social media site Truth Social, showing mocks of newspaper articles that would be written if Trump won the presidential election in November.

Among the bits of text featured was a subheading referring to the creation of a unified Reich.

The term, empire in German, is often associated with the Third Reich under Adolf Hitler’s Nazi regime from 1933 to 1945.

The word Reich in the video presumably refers to the founding of the German Reich in 1871, with the text being taken from a Wikipedia entry on World War I, according to U.S. media.

The video was created using a ready-made newspaper article mask.

According to the reports, it has also been used in other clips circulating online,.

Other newspaper headlines in the video published on Trump’s platform also make reference to World War I.

Trump’s team later confirmed that the clip had been removed from his account.

A spokeswoman for his campaign team said that “it was not a campaign video, it was created by a random account online and reposted by a staffer who clearly did not see the word.’’

Biden also attacked the Republican, who is hoping to return to the White House, at a campaign event in Boston on Tuesday.

The 81-year-old said that “the threat that Trump poses is greater in the second term than it was in the first,’’ according to reporters travelling with him.

He called Trump a little unhinged and accused him of seeking revenge after losing the 2020 presidential election.

Biden and Trump were all but guaranteed to face off on Nov. 5 in a rematch of the 2020 vote.

They both achieved the required number of delegates to be nominated as candidates of the Democratic and Republican parties respectively.

Trump has been using radical rhetoric in his election campaign, including hateful and dehumanising language, as well as making racist statements and inciting hatred against minorities.

The 77-year-old also compared Biden’s government to the Gestapo, the official secret police of Nazi Germany. (dpa/NAN)

Continue Reading

Foreign News

France Rejects Recognising Palestinian state at Present

Published

on

Share

France’s Foreign Minister Stéphane Séjourné has rejected the idea of recognising Palestine as a state at the moment.

“Our position is clear:  recognition of Palestine is not taboo for France,” the minister said on Wednesday after a meeting with his Israeli counterpart Israel Katz in Paris.

The minister, however, said that  decision in favour of the recognition must be beneficial and would be made at the right time.

He said that such a decision should  enable decisive progress at the political level.

“It is not just a symbolic question or a question of political positioning, but a diplomatic instrument in the service of a solution with two states living side-by-side in peace and security.

“France does not believe that the conditions have been met to date for this decision to have a real impact on this process,” Séjourné said.

Earlier on Wednesday, Norway, Ireland and Spain said they would recognise Palestine as a state on May 28.

Katz’s visit to Paris followed France’s position in favour of the International Criminal Court (ICC), which chief prosecutor applied for arrest warrants on Monday against Israel’s Prime Minister Benjamin Netanyahu and Defence Minister Yoav Gallant.

The Paris Foreign Ministry stated that it supported the ICC, its independence and the fight against impunity in all situations.

After the meeting with Katz, Séjourné wrote on X: “I reaffirmed France’s priorities: immediate release of the hostages, ceasefire, massive humanitarian aid and two states living in peace and security.”

(dpa/NAN)

Continue Reading

Read Our ePaper

Top Stories

NEWS17 hours ago

SEC Warns Nigerians Against Investing in $Davido Meme Coins 

Share The Securities and Exchange Commission, Nigeria (SEC) on Friday warned Nigerians against investing in Meme Coins, known as “$Davido”,...

NEWS17 hours ago

Nigeria Deploys Troops for Peace Keeping in Gambia

ShareThe Armed Forces of Nigeria on Friday, announced the deployment of 197 personnel for the peace keeping mission in the...

Foreign News18 hours ago

Putin Demands Ukrainian Troop Withdrawal in Exchange for Peace

Share Russian President Vladimir Putin on Friday said the withdrawal of Ukrainian troops from the territories annexed by his country...

Education18 hours ago

NUC Accredits 43 Programmes at Federal University, Kashere

ShareThe National Universities Commission (NUC) has fully accredited 43 academic programmes at the Federal University Kashere (FUK) in Gombe State....

NEWS18 hours ago

FG Declares 17, 18, Public Holiday to Mark Eidel-Kabir Celebration

Share The Federal Government has declared Monday 17 and Tuesday 18, as public holidays to mark this year’s Eid-el-Kabir celebration....

JUDICIARY18 hours ago

Man, 24, Jailed 6 Months for allegedly Stealing Canned Beer, Drinks

Share An Abeokuta Magistrates’ Court on Friday sentenced a 24-year-old man, Wisdom Emmanuel, to six months imprisonment for stealing canned...

POLITICS21 hours ago

From the Senate Prism, a Year after Inauguration

ShareBy Eze Okechukwu, Abuja The 10th National Assembly precisely turned one two days ago. Its first anniversary was almost coincident...

JUDICIARY21 hours ago

Emirship tussle: Court rule against Kano govt, others challenging jurisdiction

ShareThe Federal High Court sitting in Kano has on Thursday, ruled against Kano State government and others challenging the jurisdiction...

NEWS22 hours ago

NSCDC Uncovers Illegal Bunkering Sites in Rivers Cemeteries

ShareThe Nigeria Security and Civil Defence Corps has busted illegal crude oil refining sites at cemeteries in Abalama and Oproama...

Business News22 hours ago

Blue Economy Targets Top Spot in PEBEC – Oyetola

ShareFrom Anthony Nwachukwu, Lagos Mindful of the sector’s critical role in economic diversification and sustainable development, the Ministry of Marine...

Copyright © 2021 Daily Asset Limited | Powered by ObajeSoft Inc