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The American International Agricultural Group and the Groupe Lacheb signed a joint venture (JV) agreement on November 8, 2015, to create the U.S.-Algeria JV, El Ferma.
India published two notices concerning Draft Food Safety and Standards Amendment Regulations, 2015 and Draft Food Safety and Standards Amendment Regulation, 2015 for comment.
The MY 2015/16 production estimate is 28.5 million 480 lb. bales as insect infestation in northern India raises yield concerns. Planted area reached 11.76 million hectares.
On October 23, 2015, the Government of India’s Food Safety and Standards Authority of India (FSSAI) published draft Alcoholic Beverages Standards.
India’s MY 2015/16 coffee crop (Oct/Sep) is forecast at 5.3 million 60-kg bags. Large carryover stocks are expected to keep the prices subdued as exports are forecast at 5 million 60-bags.
On October 19th, 2015, the Ministry of Finance issued a notification raising the basic custom duty on imports of wheat to 25 percent (ad valorem on CIF value).