World Agrinews

Chicago soybean futures lost ground on Tuesday, with prices dropping for the first time in four sessions, as expectations of an all-time high Brazilian crop and concerns over economic growth in top consumer China weighed on the market.

Wheat fell, while corn slid from a two-week high.

For much of the global economy, 2023 is going to be a tough year as the main engines of global growth - the United States, Europe and China - all experience weakening activity, the head of the International Monetary Fund said on Sunday.

The new year is going to be "tougher than the year we leave behind," IMF Managing Director Kristalina Georgieva said on the CBS Sunday morning news program "Face the Nation."

Russia's war against Ukraine puts additional pressure on the already tense global logistics, as container shortages and rising production costs are among the factors affecting the fruit industry.

Richard Salazar, executive director of the Ecuadorian Banana Association ACORBANEC, assessed the impact of the war on Ecuador's banana exports and outlined the challenges facing the industry.

The European Union, as part of the next package of sanctions, has limited the import of fertilisers from Russia.

The restrictions do not apply to deliveries before July 10 under contracts concluded before April 9 this year, according to the Official Journal of the EU.