Market News
Cocoa prices climbed to the highest level in more than two years. The beans used to make chocolate rose 2% to a high of $2,844 a metric ton on ICE Futures U.S., the highest since Sept. 2011, reported Bloomberg.com. Full Story
With Arabica coffee prices near seven-year lows, the Brazilian government is studying ways to aid coffee growers who hold some $2.36 billion in debt, reported The Wall Street Journal. Full Story (WSJ Subscription Required)
The European Union banned most imports of South African citrus fruit for the rest of the year over fears that a fungal disease found in dozens of shipments could spread, reported Reuters. Full Story
The 2014 Gulf of Maine shrimping season could be canceled due to depleted stocks caused by overfishing in the previous two seasons. The Northern Shrimp Technical Committee of the Atlantic States Marine Fisheries Commission will recommend a total "moratorium on fishing in 2014 to maximize spawning potential" of the Gulf of Maine shrimp population. If accepted by the Northern Shrimp Section, that recommendation effectively would close down the entire 2014 Gulf of Maine shrimping season before it even begins, reported the Bangor Daily News. Full Story
A Canadian arctic blast swept through Portland, OR, worrying farmers in San Joaquin Valley, CA, that the cold air heading towards them may damage their $1.5 billion citrus crop, which 85% of the fruit is still on the trees, reported The Fresno Bee. Full Story
Potash Corp. of Saskatchewan Inc. is reducing production, along with reducing its work force by 18%, as prices for its crop nutrients fall and demand softens in emerging markets, reported The Globe and Mail. Full Story
As of December 2, U.S. average diesel fuel prices were $3.883 per gallon, up 0.039 cents per gallon from a week ago, and down $0.144 from one year ago. Full Story
South American grapes and blueberries could reach some U.S. markets quicker under a new pilot program that began Oct. 1, bringing fruit to south Florida ports, reported The Packer. Full Story
Open Range Beef opened a new meat processing operation in Nebraska. The 36,000-sq. ft. plant is poised to process between 250 and 300 heads of cattle each day, reported the StarHerald.com. Full Story
Wheat prices advanced on demand from importing nations and amid speculation that freezing weather in the U.S. may hurt crops. Wheat for delivery in March rose 0.6% to $6.72 a bushel, reported Bloomberg.com. Full Story
Robusta coffee prices advanced the most since 2011 as investors closed out bets on lower prices due to low stockpiles and falling exports from Vietnam. Bean inventories in warehouses stood at 45,900 metric tons on Nov. 25, the lowest since at least 2002, reported Bloomberg.com. Full Story
Natural Blend Vegetable Dehydration will invest more than $12 million to open a manufacturing facility in Farmville, NC. The company is being developed by Ham Produce Company, Inc., for the purpose of dehydrating vegetables for use as an ingredient in various food products, reported Area Development. Full Story
Total produce sales were up 4.7% during the third quarter, compared with year-ago third quarter numbers, with volume 0.9% higher and prices 3.8% above a year ago, according to United Fresh Produce Association FreshFacts on Retail report, reported The Packer. Full Story
The number of acres in Indiana devoted to organic crops is increasing, but at a much slower rate than all the surrounding states. A recent USDA report shows the rate of growth in Indiana this year at 2% compared with a 25% growth in Ohio, 30% growth in Illinois and 160% growth in Kentucky, reported Indiana Public Media. Full Story
The avocado category continues to deliver excellent retail growth. In 2012, retail volumes exceeded 1.1 billion units and retail sales topped $1.2 billion, reported The Produce News. Full Story