Ben Westcott

Australian vintner Treasury Wine Estates is expecting lower earnings for the current financial year as it looks to focus on solidifying key markets and bolstering its position in the luxury portfolio.

US authorities are accelerating emergency measures after the flesh-eating New World screwworm parasite was detected in a three-week-old calf in South Texas, the first animal case reported in the country in almost a decade.

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Australian beef exports to China will face an additional 55% tariff starting this weekend after hitting Beijing’s annual quota limit, which could impact trade flows and prompt producers to seek new markets for red meat.

Asian consumers will be facing higher grocery bills for months thanks to costly packaging stemming from the Iran war, which created severe shortages of plastics needed to get food from farms to market.

Chicago soybean oil futures climbed to a three-week high after fresh US military strikes on Iran sent crude oil prices higher, raising the prospect of greater demand for biofuel feedstocks.

Australia should adopt national biofuel mandates to bolster its energy security, according to GrainCorp Ltd., after months of uncertainty from the Iran war which sent shockwaves through the country’s economy.

Genesis Minerals Ltd. and Vault Minerals Ltd. will merge to create Australia’s third-largest gold producer, a day after rival bidder Regis Resources Ltd. said it would not counter Genesis’s bid and pulled out of the running.

Australia is facing its smallest wine grape harvest in more than 25 years as shrinking demand and poor weather stifle production in one of the world’s largest wine-making nations.

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