Agriculture Sector News
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India, the world’s second-biggest rice, wheat and sugar cane grower, may get above-average monsoon rainfall for the third time in four years in 2013, boosting crop harvests and curbing retail food prices.
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The following is the text of the Federal Reserve Board’s Ninth District-- Minneapolis.
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Following is a summary of U.S. economic conditions as reported by the 12 Federal Reserve district banks in the central bank’s latest regional survey, also known as the Beige Book.
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India, the second-biggest rice, wheat and cotton grower, may get normal monsoon rainfall for the third time in four years in 2013, a private forecaster said.
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President Uhuru Kenyatta of Kenya said his government wants to create sustained economic growth of more than 10 percent, in part by cutting a public wage bill that is almost 12 percent of the gross domestic product.
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Paraguay will more than double soybean exports this year as farms recover from drought, spurring the fastest economic growth in Latin America, Finance Minister Manuel Ferreira said.
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India, the world’s second-biggest rice, wheat and cotton grower, may get normal monsoon rainfall for the third time in four years in 2013, potentially boosting plantings and exports.
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Indian suppliers to automakers including Suzuki Motor Corp. and Tata Motors Ltd. are looking at cutting costs and boosting shipments abroad as they brace for the first annual decline in vehicle sales at home in a decade.
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Privatbank, Ukraine’s largest lender by assets, wants to boost credit to large businesses by between 10 percent and 15 percent this year, Chief Executive Officer Alexander Dubilet said.
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Goldman Sachs Group Inc. is “very positive globally” on the agriculture sector, in part as dry weather in the U.S. supports grains, said Steve Jesse, an executive director of fixed income, commodities and currencies at the bank.
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