2024-10-03 20:48
Oct 3 (Reuters) - Kirk strengthened into a category 4 major hurricane and large swells could reach the U.S. East Coast by Sunday, the U.S. National Hurricane Center said on Thursday. The hurricane was located about 1,655 miles (2655 km) southwest of the Azores, packing maximum sustained winds of 130 mph (215 km/h), the Miami based forecaster said. Sign up here. https://www.reuters.com/business/environment/kirk-strengthens-category-4-major-hurricane-nhc-says-2024-10-03/
2024-10-03 20:28
CHICAGO, Oct 3 (Reuters) - California is investigating a possible case of bird flu in a dairy worker who had contact with infected cattle, the state's public health department said on Thursday. The virus' jump to cattle in 14 states and infections of 13 dairy and poultry farm workers this year have concerned scientists and federal officials about the risks to humans from further spread. The worker had a "presumptive positive" result to a test for bird flu, and the U.S. Centers for Disease Control and Prevention will do further testing to confirm the finding, the California Department of Public Health said in a statement. The person, who was not identified, only suffered conjunctivitis, or pink eye, the department said in a statement. The person is being treated with antiviral medication and staying home, it added. The person works at a Central Valley dairy facility suffering an outbreak in cattle, according to the statement. Cows at dairy farms in California, the top U.S. milk-producing state, began testing positive for bird flu in late August. "The risk to the general public remains low, although people who interact with infected animals are at higher risk of getting bird flu," the department said. Missouri last month confirmed bird flu in a person with underlying medical conditions who had no immediate known animal exposure. Six healthcare workers who cared for the Missouri patient developed respiratory symptoms, but the virus was not confirmed in any of them. Scientists are watching closely for signs that the virus has begun to spread more easily in people. The U.S. Food and Drug Administration on Thursday said it would begin testing raw cow's milk intended for pasteurization at dairy plants to better understand the prevalence of the bird flu virus in milk. Participation in the study, set to begin Oct. 28, is voluntary and pasteurized dairy products remain safe to consume, the agency said. Prior FDA testing of retail dairy samples came back negative, and more such testing is underway. Sign up here. https://www.reuters.com/business/healthcare-pharmaceuticals/california-investigates-possible-human-case-bird-flu-state-says-2024-10-03/
2024-10-03 20:02
CARTAGENA, Oct 3 (Reuters) - Colombia's state-run oil company oil Ecopetrol (ECO.CN) , opens new tab and Brazil's Petrobras (PETR4.SA) , opens new tab on Thursday announced two major gas discoveries executives said would hugely increase reserves and help the Andean country remain self-sufficient for energy. The oil industry and some politicians in Colombia have repeatedly sounded concerns over the country's ability to maintain gas self-sufficiency. Reserves through the end of 2023 fell to 2.4 trillion cubic feet - equivalent to 6.1 years of consumption - amid a dearth of new gas projects. Those fears were recently compounded by a judge's ruling to immediately halt operations at the Sirius-2 well - formerly known as Uchuva-2 - following a complaint made by Indigenous communities who said their way of life would be adversely affected by the well's development. The judge subsequently ruled the suspension would take place gradually, adding that an appeal process would be heard by a different judge. The names of the wells and the block they sit on were changed under the same ruling. The companies are jointly developing the Siruis project, which is operated by Petrobras. "The initial conception of Sirius...foresees the first offshore gas in 2029 to 2030 with four producing wells and an expected production of 13.3 million cubic meters (470 million cubic feet) per day for 10 years," Soares said at the Colombian Petroleum Association's (ACP) forum on oil, gas and energy in Cartagena. The Sirius project has more than 6 trillion cubic feet of gas in place, Soares said, who added that total investment in its development could around $5 billion, split between exploration - forecast at around $2 billion - and production development, which is around $3 billion. "Sirius alone represents the largest discovery made offshore Colombia and has the potential to double reserves throughout the country," he added. A later phase which could start in 2031 includes the previously planned development plus one or two other wells, and could see gas flow of 15 million cubic meters per day from first gas, he added. Later, Ecopetrol's Chief Executive Ricardo Roa told journalists that the company had discovered a new offshore well called Papayuela, which could produce some 800 million cubic feet of gas per day. "It's almost 80% of what national demand can consume. Logically, this will take the five or seven years necessary to mature and develop these exploration activities," Roa said. Sign up here. https://www.reuters.com/business/energy/ecopetrol-petrobras-announce-major-gas-discoveries-colombia-2024-10-03/
2024-10-03 19:52
WASHINGTON, Oct 3 (Reuters) - Indian Trade Minister Piyush Goyal and U.S. Commerce Secretary Gina Raimondo signed an agreement on Thursday to cooperate on strengthening supply chains in the two countries for lithium, cobalt and other critical minerals used in electric vehicles and clean energy applications. The Commerce Department said in a statement that the memorandum of understanding (MOU), signed during Goyal's visit to Washington, was aimed at building resilience in the sector for each country. "Priority areas of focus include identifying equipment, services, policies and best practices to facilitate the mutually beneficial commercial development of U.S. and Indian critical minerals exploration, extraction, processing and refining, recycling and recovery," Commerce said. Goyal, speaking at a Center for Strategic and International Studies in Washington after the signing, described the MOU as a multi-dimensional partnership that would include open supply chains for materials, technology development and investment flows to promote green energy. He said the U.S. and India would also need to include third countries in their engagement, including mineral-rich countries in Africa and South America. The MOU, which Reuters first reported was in the works on Monday, falls far short of a full critical minerals trade deal that would allow India to benefit from the $7,500 U.S. electric vehicle tax credit. Japan last year signed a deal with the U.S. Trade Representative's office that allows Japanese automakers to more fully participate in the credit, aiming to reduce U.S.-Japanese mineral dependence on China and prohibiting bilateral export controls on lithium, nickel, cobalt, graphite, manganese and other minerals. Sign up here. https://www.reuters.com/markets/commodities/india-us-cooperate-critical-battery-minerals-trade-minister-says-2024-10-03/
2024-10-03 19:40
SAO PAULO, Oct 3 (Reuters) - Germany's Bayer (BAYGn.DE) , opens new tab forecasts that some 30% of Brazil's soybean area will be sowed with its genetically modified biotech seed Intacta2 Xtend in the 2024/25 season, doubling the share from the previous crop, a top executive said this week. The exact share Intacta2 Xtend will reach should be clear only in some two or three weeks after expected rains allow a broad planting in Brazil's soy fields, Bayer's head of regulatory science for Latin America Geraldo Berger told Reuters in an interview on Monday. WHY IT'S IMPORTANT Brazil, the world's largest soy producer and exporter, is Bayer's second largest market behind only the United States. CONTEXT Bayer's Intacta2 Xtend seed is designed to tolerate herbicides, including glyphosate and dicamba, and protects the plant against caterpillars. Last year, Bayer had estimated that between 10% to 15% of Brazil's soybean area would be sowed with Intacta2 Xtend - the third generation of the genetically modified soybean - in the 2023/24 season. KEY QUOTES Bob Reiter, head of research and development for Bayer's crop science division, said the firm plans to launch a fourth generation of the product in the next 10 years. "We always have to stay ahead of insect pressure and insect resistance risk and also improve the breadth of insects that we can try to control with biotechnology," he said. Sign up here. https://www.reuters.com/markets/commodities/bayer-sees-intacta2-xtend-gmo-seed-covering-30-brazils-soybeans-2024-10-03/
2024-10-03 19:17
Meat importers hope port strike lasts less than a week Beef, seafood importers stocked up before strike US beef imports surged after cattle supplies dwindled CHICAGO, Oct 2 (Reuters) - Dockworkers striking at U.S. East Coast and Gulf Coast ports are preventing imports of beef that restaurants and retailers increasingly rely on to make hamburgers due to limited domestic supplies, traders and industry members said. The labor strike blocks everything from shipments of automobiles to containers filled with Guatemalan bananas and Italian wine from loading or unloading at dozens of ports from Maine to Texas. Along with beef, imports of seafood and U.S. exports of chicken are being disrupted. Even short-term disruptions to shipments could snarl the broader U.S. food supply chain, according to experts and food importers. If the strike stretches out, the result will be either shortages of some food products, price inflation or both, they said. More than 50 container ships were already anchored or loitering off dozens of East Coast and Gulf ports as of early Wednesday, compared to just three on Sunday before the strike, according to Reuters shipping data and Everstream Analytics. "From a supply chain standpoint, this is a nightmare," said Jason Miller, interim chair of Michigan State University's department of supply chain management. The beef sector could see ripple effects if the strike disrupts imports for more than a week, industry members said. U.S. beef supplies tightened after a severe drought and high grain prices prompted ranchers to sell off their cattle, shrinking the nation's herd to the lowest level in decades. The decline in cattle numbers led to soaring U.S. beef prices and a flurry of cheaper imports. Beef imports from Australia jumped 72% through July this year, according to U.S. Department of Agriculture data. Imports from New Zealand and Brazil have also increased. In anticipation of the strike, suppliers to U.S. grocers and fast food restaurants ramped up imports of frozen lean beef that is mixed with domestic supplies to make hamburger meat, three industry members said. Dan Sorbello, who imports beef into the Ports of Philadelphia and Houston, said he unloaded containers from vessels more quickly than normal ahead of the strike to make sure he could take possession of the meat and distribute it. "We've got ourselves maybe a week's worth of lifeline," said Sorbello, principal for Sorbello Refrigerated Services. SURF AND TURF PanaPesca USA LLC, which imports and exports seafood, also stocked up on extra supplies of squid and shellfish to meet its customers' needs ahead of the strike, said chief commercial officer Eric Buckner. Much of PanaPesca's product in freezer freight containers arrived, but some is still stuck on ships now anchored offshore, he said. The strike could increase costs for fast food restaurants if it persists more than a week, said Bob Chudy, a consultant for companies that import beef. "All of a sudden, fast food chains that have been relying on much more reasonably priced lean meat from overseas would be forced to turn to domestic alternatives," Chudy said. McDonald's Corp (MCD.N) , opens new tab and Burger King, owned by Restaurant Brands International (QSR.TO) , opens new tab, did not respond to requests for comment. Beef importers could face demurrage fees if the strike persists, costs that may be passed on to consumers, analysts said. Shipments of refrigerated fresh meat, which can be used in restaurant dishes like fajitas, risk spoiling, they said. U.S. retail prices for ground beef in August reached a record high of $5.58 per pound, according to the latest available federal data. For the U.S. chicken industry, which relies on exports, the strike is also ill-timed, said Matt Busardo, commodity information firm Expana's team lead for U.S. poultry. Domestic demand is waning as consumers switch to eating cold-weather meals like pot roast and chili, instead of grilling chicken, he said. The sector relies on ports such as Savannah to export leg quarters and drumsticks to countries including Angola and Cuba. Sign up here. https://www.reuters.com/world/us/us-port-strike-disrupts-hamburger-supplies-frozen-seafood-2024-10-02/
