Pubblicato in: Commercio, Economia e Produzione Industriale

Indonesia. Dec21. Import +47.93% Export +35.30% anno su anno.

Giuseppe Sandro Mela.

2022-01-19.

2022-01-18__ Indonesia 001

                         In sintesi.

– The value of Indonesia’s exports in December 2021 …. rose 35.30 percent compared to December 2020

– Imports of Indonesia in December 2021 …. increased by 47.93 percent compared with December 2020

– exports of mining and others increased by 92.15 percent compared to the same period in 2020

– The main country destinations of non-oil and gas exports in December 2021 were China at US$5.10 billion, United States at US$2.64 billion, and Japan at US$1.70 billion

* * * * * * *

L’Indonesia è la dimostrazione vivente di come un sistema economico produttivo sano possa non solo sopravvivere ma anche crescere pur dovendo operare in un contesto mondiale in stagflazione.

L’Indonesia è ricca di minerali, che estrae e vende bene, essendo sempre richiesti dai mercati internazionali.

Questa è la chiave del successo: produrre bene richiesti dal mercato senza preclusioni ideologiche.

* * * * * * *


Exports in December 2021 reached US$22.38 billion, imports reached to US$21.36 billion.

                         EXPORT

– The value of Indonesia’s exports in December 2021 reached US$22.38 billion, decreased 2.04 percent compared to exports in November 2021 but rose 35.30 percent compared to December 2020.

– Non-oil and gas exports in December 2021 reached US$21.28 billion, decreased 1.06 percent compared to November 2021 but rose 37.13 percent compared to December 2020.

– Cumulatively, Indonesia’s exports from January to December 2021 reached US$231.54 billion, increased 41.88 percent over the same period in 2020. Likewise, non-oil and gas exports reached US$219.27 billion or increased 41.52 percent.

– The highest decrease in non-oil and gas exports in December 2021 was mineral fuels commodity, in amount of US$880.4 million or decreased 21.32 percent from November 2021. The highest increase was animal or vegetable fats and oils commodity, in amount of US$428.8 million or increased 16.84 percent.

– By industry classification, exports of manufacturing products during period January−December 2021 increased by 35.11 percent, exports of agriculture, forestry, and fisheries increased by 2.86 percent, and exports of mining and others increased by 92.15 percent compared to the same period in 2020.

– The main country destinations of non-oil and gas exports in December 2021 were China at US$5.10 billion, United States at US$2.64 billion, and Japan at US$1.70 billion, with the contribution of the three reaching 44.34 percent. Meanwhile, exports to ASEAN and the European Union (27 countries) amounted to US$3.93 billion and US$1.71 billion, respectively.

– According to the province of origin, Indonesia’s largest exports in January– December 2021 came from Jawa Barat Province with a value of US$33.86 billion (14.62 percent), followed by Kalimantan Timur Province at US$24.32 billion (10.50 percent) and Jawa Timur Province at US$23.00 billion (9.94 percent).

                         IMPORT

– Imports of Indonesia in December 2021 were worth US$21.36 billion, rose by 10.51 percent compared with November 2021, or increased by 47.93 percent compared with December 2020.

– Imports of oil and gas in December 2021 were worth US$3.38 billion, rose by 11.66 percent compared with November 2021, or inclined by 127.95 percent compared with December 2020.

– Imports of non-oil and gas in December 2021 were worth US$17.98 billion, rose by 10.29 percent compared with November 2021, or grew by 38.78 percent compared with December 2020.

– The most significant increase in imports of non-oil and gas in December 2021 was machinery/mechanical appliances and parts thereof which rose by US$401.5 million (15.24 percent). On the other hand, cereals experienced the highest decrease, which reduced by US$135.2 million (38.63 percent).

– The largest trading partner countries of non-oil and gas imports in January– December 2021 were China US$55.74 billion (32.66 percent), Japan US$14.61 billion (8.56 percent), and Thailand US$9.08 billion (5.32 percent). Imports of nonoil and gas from ASEAN and EU countries were US$29.31 billion (17.17 percent) and US$10.97 billion (6.43 percent), respectively.

– Based on Broad Economic Categories (BEC), total of Indonesia imports in January– December 2021 rose US$5,529.5 million (37.73 percent) for consumption goods, US$44,174.2 million (42.80 percent) for intermediate goods, and US$4,924.1 million (20.77 percent) for capital goods.

– Indonesia’s balance of trade in December 2021 experienced a surplus of US$1.02 billion, which was mainly affected by a surplus of non-oil and gas of US$3.30 billion. On the other hand, there was a deficit of US$2.28 billion in oil and gas.

Pubblicato in: Cina, Commercio

Cina. Diffida la Walmart Inc che boicotta i prodotti dello Xinjiang.

Giuseppe Sandro Mela.

2022-01-05.

Cina Usa 001

«From our humble beginnings as a small discount retailer in Rogers, Ark., Walmart has opened thousands of stores in the U.S. and expanded internationally. Through innovation, we’re creating a seamless experience to let customers shop anytime and anywhere online and in stores. We are creating opportunities and bringing value to customers and communities around the globe. Walmart operates approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. We employ 2.2 million associates around the world — nearly 1.6 million in the U.S. alone. ….

Walmart has been at the forefront of retail modernization in China since 1996, when we opened a hypermarket and Sam’s Club in Shenzhen. We now serve communities nationwide as a leader in omnichannel retail. We delight customers through nearly 400 stores and clubs as well as multiple e-commerce platforms. Walmart China focuses on nurturing local talent and diversity. Chinese associates make up 99.9% of the total workforce. All stores and clubs are managed by local talents. Women make up more than half of the management at all levels. ….

Revenue: 559.2 billion USD (2021)» [Walmart]

* * * * * * *

China graft agency warns Walmart and Sam’s Club over Xinjiang products.

«Last week, Sam’s Club came under fire in China after users  of the Weibo social media platform shared screenshots allegedly showing that products from the far-western Chinese region of Xinjiang had been removed from the store’s online  app»

* * * * * * *

«China’s anti-graft agency on Friday accused U.S. retail giant Walmart Inc and its Sam’s Club chain of “stupidity and shorted-sightedness” after Chinese news outlets reported Sam’s Club had removed Xinjiang-sourced products from stores»

«Last week, Sam’s Club came under fire in China after several news outlets shared videos and screenshots on the Weibo social media platform that they said showed products from the far-western Chinese region of Xinjiang had been removed from the store’s online app»

«The social media row erupted after U.S. President Joe Biden signed into law on Dec. 23 legislation banning imports from Xinjiang over concern about forced labour there»

«China rejects accusations of forced labour or any other abuses in Xinjiang»

«Neither Walmart nor Sam’s Club has made public statements on the backlash against them in China, and Walmart did not respond to a request for comment on Friday»

«China is a huge market for Walmart, which generated revenue of $11.43 billion in the country during its fiscal year that ended Jan. 31. Of 423 retail units Walmart operates in China, 36 are Sam’s Club stores»

* * * * * * *

Lituania. Blinken e Simonyte e le sanzione imposte dalla Cina. Lituania sulla brace.

China’s European Diplomacy

Women make up 60% of White House staff, diversity total at 44%

Usa. Biden. La Cnn accusa l’Amministrazione delle femmine di mancanza di ‘competenza’.

Lituania. Cina bandisce le società che hanno rapporti con la Lituania. Vilnius ed EU sulla brace.

* * * * * * *

Vedremo come potranno evolvere le cose. Una cosa parrebbe essere certa.

Quanti non cessassero gli attacchi alla Cina sarebbero estromessi da quel mercato.

Adesso è la Cina che può imporre e far rispettare le proprie sanzioni, possibilità di azione oramai persa dell’occidente liberal.

* * * * * * *


China warns Walmart and Sam’s Club over Xinjiang products

Beijing, Dec 31 (Reuters) – China’s anti-graft agency on Friday accused U.S. retail giant Walmart Inc and its Sam’s Club chain of “stupidity and shorted-sightedness” after Chinese news outlets reported Sam’s Club had removed Xinjiang-sourced products from stores.

Last week, Sam’s Club came under fire in China after several news outlets shared videos and screenshots on the Weibo social media platform that they said showed products from the far-western Chinese region of Xinjiang had been removed from the store’s online app.

The social media row erupted after U.S. President Joe Biden signed into law on Dec. 23 legislation banning imports from Xinjiang over concern about forced labour there.

 Walmart is the latest foreign firm to be tripped up by Western pressure over Beijing’s treatment of Uyghurs and other minority Muslims in Xinjiang and China’s importance as a market and supply base.

China rejects accusations of forced labour or any other abuses in Xinjiang.

Neither Walmart nor Sam’s Club has made public statements on the backlash against them in China, and Walmart did not respond to a request for comment on Friday.

The ruling Communist Party’s Central Commission for Discipline Inspection (CCDI) accused Sam’s Club of boycotting Xinjiang products and trying to “muddle through” the controversy by remaining silent.

“To take down all products from a region without a valid reason hides an ulterior motive, reveals stupidity and short-sightedness, and will surely have its own bad consequences,” it said on its website.

China is a huge market for Walmart, which generated revenue of $11.43 billion in the country during its fiscal year that ended Jan. 31. Of 423 retail units Walmart operates in China, 36 are Sam’s Club stores, according to its website.

A search for popular Xinjiang goods like raisins on the Sam’s Club China store app did not yield any relevant results, but neither did searches for products from other places, such as Fujian tea, according to a Reuters review on Wednesday.

Pubblicato in: Commercio, Geopolitica Asiatica

Bangladesh. Fatture dell’import +54% in cinque mesi.

Giuseppe Sandro Mela.

2021-12-29.

2021-12-30__ Bangladesh's import payments 001

«Import bills in July-November swelled 53.74% year-on-year to $30.3 billion»

«With nations facing the pandemic funk, the settlement of Letters of Credit (LC), also known as actual import payments, in the corresponding period last year stood at $19.72 billion»

«Imports of yarn, capital machinery and intermediate goods had a major contribution to the bills, which means production lines are alive and kicking and there has been a strong consumer demand at home.»

«However, spiralling commodity prices in the international market and spiked shipping cost pushed up the import payments»

«In the first five months of this fiscal year capital machinery import saw 30% growth»

«During the period import growth of intermediate goods was 70%, chemical fertilizer 105%, yarn 103% and drugs and medicines more than 1,000%»

«In July-November, there had been around 13,779% rise in LCs opening for rice import as the government allowed bringing in the food staple from foreign markets»

2021-12-30__ Bangladesh's import payments 002

* * * * * * *

2021-12-30__ Bangladesh's import payments 003


Import bills rise 54% in five months

Bangladesh’s import payments surged by around 54% in the first five months of the current fiscal year compared to the corresponding period of last year – indicating a strong and steady economic recovery in keeping with a sharp fall in coronavirus infections.

Import bills in July-November swelled 53.74% year-on-year to $30.3 billion, according to the latest data of the Bangladesh Bank. With nations facing the pandemic funk, the settlement of Letters of Credit (LC), also known as actual import payments, in the corresponding period last year stood at $19.72 billion.

Imports of yarn, capital machinery and intermediate goods had a major contribution to the bills, which means production lines are alive and kicking and there has been a strong consumer demand at home.

However, spiralling commodity prices in the international market and spiked shipping cost pushed up the import payments.

In the first five months of this fiscal year capital machinery import saw 30% growth, the central bank’s latest data show. During the period import growth of intermediate goods was 70%, chemical fertilizer 105%, yarn 103% and drugs and medicines more than 1,000%.

In July-November, there had been around 13,779% rise in LCs opening for rice import as the government allowed bringing in the food staple from foreign markets. However, the upswing put a less significant $340 million mark to the bills.

At the same time, LCs opening for sugar increased by more than 100% and refined edible oil by 81%.

The country saw 31.86% fall in LC opening for onion, 1.35% for pulses and 8.92% for dairy items.

Pubblicato in: Banche Centrali, Commercio, Devoluzione socialismo

UNCTAD. Inefficienza dei porti e della catena approvvigionamenti terranno alti i costi al consumo.

Giuseppe Sandro Mela.

2021-11-25.

2021-11-25__ Unctad 001

La Conferenza delle Nazioni Unite sul Commercio e lo Sviluppo è il principale organo sussidiario permanente dell’Organizzazione delle Nazioni Unite operante nei settori del commercio, sviluppo, finanza, tecnologia, imprenditoria e sviluppo sostenibile.

* * * * * * *

Lo United Nations Conference on Trade and Development ha rilasciato il Report High freight rates cast a shadow over economic recovery.

«High freight rates cast a shadow over economic recovery»

«UNCTAD warns that global consumer prices will rise significantly in the year ahead until shipping supply chain disruptions are unblocked and port constraints and terminal inefficiencies are tackled»

«The recovery of the global economy is threatened by high freight rates, which are likely to continue in the coming months»

«the current surge in container freight rates, if sustained, could increase global import price levels by 11% and consumer price levels by 1.5% between now and 2023»

«The current surge in freight rates will have a profound impact on trade and undermine socioeconomic recovery, especially in developing countries, until maritime shipping operations return to normal»

«Demand for goods surged in the second half of 2020 and into 2021, as consumers spent their money on goods rather than services»

«This large swing in containerized trade flows was met with supply-side capacity constraints, including container ship carrying capacity, container shortages, labour shortages, continued on and off COVID-19 restrictions across port regions and congestion at ports»

«For example, the Shanghai Containerized Freight Index (SCFI) spot rate on the Shanghai-Europe route was less than $1,000 per TEU in June 2020, jumped to about $4,000 per TEU by the end of 2020, and rose to $7,395 by the end of July 2021»

«still encountered difficulties to ensure their containers were moved promptly»

«The impact of the high freight charges will be greater in small island developing states (SIDS), which could see import prices increase by 24% and consumer prices by 7.5%. In least developed countries (LDCs), consumer price levels could increase by 2.2%»

«Low-value-added items produced in smaller economies, in particular, could face serious erosion of their comparative advantages»

«a surge in container freight rates will add to production costs, which can raise consumer prices and slow national economies, particularly in SIDS and LDCs, where consumption and production highly depend on trade»

«The high rates will also impact on low-value-added items such as furniture, textiles, clothing and leather products, whose production is often fragmented across low-wage economies well away from major consumer markets …. predicts consumer price increases of 10.2% on these»

«The analysis further predicts a 9.4% increase in rubber and plastic products, a 7.5% increase for pharmaceutical products and electrical equipment, 6.9% for motor vehicles and 6.4% for machinery and equipment»

«A 10% increase in container freight rates, together with supply chain disruptions, is expected to decrease industrial production in the United States and the euro area by more than 1%»

* * * * * * *

Il problema affrontato è molto complesso è si presterebbe a numerose considerazioni. Ne esporremo solo alcune, non necessariamente e più importanti.

In primo luogo, tutto il mondo è entrato in una fase di stagflazione. Languono le produzioni e l’inflazione erode il potere di acquisto. Sussistono vistose discrepanze locoregionali. Questa situazione ostacola grandemente anche i paesi che di per sé stessi non avrebbero avuto grossolani problemi. Inoltre, l’inflazione è fortemente contagiosa.

In secondo luogo, oscillazioni così veloci e di ampio valore ostacolano severamente le possibilità di pianificare produzione e commercializzazione. Tutti i pregressi canoni hanno perso valore. Diventa un vivere alla giornata, fatto questo incompatibile con un sano sistema economico.

In terzo luogo, le materie prime hanno evidenziato considerevoli incrementi dei prezzi, mettendo fuori mercato un gran numero di sistemi produttivi. La crisi dei trasporti amplifica i costi ed ostacola il timing dei rifornimenti.

In quarto luogo, i governi nazionali sembrerebbero essere del tutto impotenti a comprendere e governare queste situazioni.

In quinto luogo, le continue tensioni politiche e militari non concorrono sicuramente a rasserenare gli animi. Chiamando le cose con il loro nome, il rischio di un conflitto atomico è reale.

* * * * * * *

In estrema sintesi, nessuno si illuda. Questa situazione continuerà peggiorando fino al collasso. Il problema è sicuramente economico, ma principalmente è politico

* * * * * * *


High freight rates cast a shadow over economic recovery

UNCTAD warns that global consumer prices will rise significantly in the year ahead until shipping supply chain disruptions are unblocked and port constraints and terminal inefficiencies are tackled.

* * *

Geneva, Switzerland, 18 November 2021

The recovery of the global economy is threatened by high freight rates, which are likely to continue in the coming months, according to UNCTAD’s Review of Maritime Transport 2021 published on 18 November.

UNCTAD’s analysis shows that the current surge in container freight rates, if sustained, could increase global import price levels by 11% and consumer price levels by 1.5% between now and 2023.

“The current surge in freight rates will have a profound impact on trade and undermine socioeconomic recovery, especially in developing countries, until maritime shipping operations return to normal,” said UNCTAD Secretary General Rebeca Grynspan.

“Returning to normal would entail investing in new solutions, including infrastructure, freight technology and digitalization, and trade facilitation measures,” she said.

                         What triggered the spike in freight rates and costs

Demand for goods surged in the second half of 2020 and into 2021, as consumers spent their money on goods rather than services during pandemic lockdowns and restrictions, according to the report. Working from home, online shopping and increased computers sales all placed unprecedented demand on supply chains.

This large swing in containerized trade flows was met with supply-side capacity constraints, including container ship carrying capacity, container shortages, labour shortages, continued on and off COVID-19 restrictions across port regions and congestion at ports.

This mismatch between surging demand and de facto reduced supply capacity then led to record container freight rates on practically all container trade routes.

For example, the Shanghai Containerized Freight Index (SCFI) spot rate on the Shanghai-Europe route was less than $1,000 per TEU in June 2020, jumped to about $4,000 per TEU by the end of 2020, and rose to $7,395 by the end of July 2021. On top of this, cargo owners faced delays, surcharges and other costs, and still encountered difficulties to ensure their containers were moved promptly.

                         Everyone is affected, but not equally

The impact of the high freight charges will be greater in small island developing states (SIDS), which could see import prices increase by 24% and consumer prices by 7.5%. In least developed countries (LDCs), consumer price levels could increase by 2.2%.

Supply chains will be affected by higher maritime trade costs. Low-value-added items produced in smaller economies, in particular, could face serious erosion of their comparative advantages.

In addition, concerns abound that the sustained higher shipping costs will not only weigh on exports and imports but could also undermine a recovery in global manufacturing.

The report says sustained high rates are already affecting global supply chains, noting that Europe, for example, has been facing shortages of consumer goods imported from Asia such as home furnishings, bicycles, sports goods and toys.

According to the report, a surge in container freight rates will add to production costs, which can raise consumer prices and slow national economies, particularly in SIDS and LDCs, where consumption and production highly depend on trade.

The high rates will also impact on low-value-added items such as furniture, textiles, clothing and leather products, whose production is often fragmented across low-wage economies well away from major consumer markets; the UNCTAD predicts consumer price increases of 10.2% on these.

The analysis further predicts a 9.4% increase in rubber and plastic products, a 7.5% increase for pharmaceutical products and electrical equipment, 6.9% for motor vehicles and 6.4% for machinery and equipment.

The impact of the high freight rates will not be evenly spread, even within Europe, and will be generally greater in smaller economies.

It is suggested that prices would rise by 3.7% in Estonia and 3.9% in Lithuania, compared with 1.2% in the United States and 1.4% in China. This differential also reflects a greater “import openness”, the ratio of imports to GDP, which is typically higher in smaller economies.

Manufacturers in the United States rely mainly on industrial supplies from China and other East Asian economies, so continued cost pressures, disruption and delays in containerized shipping will hinder production, according to the report.

A 10% increase in container freight rates, together with supply chain disruptions, is expected to decrease industrial production in the United States and the euro area by more than 1%, while in China production is expected to decrease by 0.2%.

UNCTAD emphasizes that transport costs are also influenced by structural factors, including port infrastructure quality, the trade facilitation environment and shipping connectivity, and there is potential for significant improvements.

UNCTAD urges countries to consider a portfolio of measures that span hard and soft infrastructure and services. Improving the quality of port infrastructure would reduce world average maritime transport costs by 4.1%, while costs would be reduced by 3.7% by better trade facilitation measures and by 4.4% by improved liner shipping connectivity.

It calls on governments to monitor markets to ensure a fair, transparent and competitive commercial environment and recommends more data sharing and stronger collaboration between stakeholders in the maritime supply chain.

The report urges continued monitoring and analysis of trends to find ways of cutting costs, enhancing efficiency and smoothing delivery of maritime trade. It also emphasizes the need for smaller economies to diversify by graduating to higher-value-added products to be more resilient to external shocks.

In the medium to longer term, the maritime supply capacity will also be affected by the transition of the industry towards zero-carbon shipping. To ensure that the necessary investment in ships, ports and the provision of new fuels is not delayed, it will be important for investors to count on a predictable global regulatory framework.

* * *

Surging shipping costs will drive up prices for some consumer products by 10%, new UN report finds.

– The rate for a single shipping container has skyrocketed over the last 18 months as the coronavirus pandemic disrupted supply chains and trade channels.

– That surge in container rates could send consumer prices 1.5% higher over the next year, according to a report from the United Nations Conference on Trade and Development (UNCTAD).

– The impact on consumer prices will vary by country and product, the report said.

* * *

Beijing — The global surge in container shipping rates could send consumer prices 1.5% higher over the next year, according to a report from the United Nations Conference on Trade and Development (UNCTAD).

The rate for a single shipping container has skyrocketed over the last 18 months as the coronavirus pandemic disrupted supply chains and trade channels. Routes have seen costs rise by seven times, if not more.

“UNCTAD’s analysis shows that the current surge in container freight rates, if sustained, could increase global import price levels by 11% and consumer price levels by 1.5% between now and 2023,” the UN report said Thursday.

By country, the U.S. would see consumer prices rise by 1.2%, while China would see a 1.4% increase, the report said. The analysis found that smaller countries more dependent on imports would see consumer prices rise by a much higher 7.5%.

By product, electronics, furniture, and apparel would see the greatest price increases — of at least 10% globally — due to supply chain distribution, UNCTAD said, noting containers account for 17% of total seaborne trade volume.

Some companies have chosen to send smaller products by air as a result of the soaring cargo shipping costs, although air freight tends to be more expensive.

The container shipping cost surge would also drag down growth in major economies, the analysis said.

Industrial production, a major driver of growth, is set to fall by more than 1% in the U.S. and euro area, and drop by 0.2% in China, if container freight rates rise 10% and supply chains remain disrupted, the report said.

As of late October, more than 600 container ships were stuck outside ports worldwide, twice the level at the start of the year, Swiss logistics giant Kuehne+Nagel told CNBC’s “Squawk Box Asia.” The company projected late last month that the congestion would last until at least February.

Pubblicato in: Agricoltura, Commercio, Devoluzione socialismo

FAO Food Price Index. Costi in continuo aumento.

Giuseppe Sandro Mela.

2021-11-12.

2021-11-06__ FAO 001

«FAO Food Price Index (FFPI) up 31.8 points (31.3 percent) from October 2020»

«25.1 points (22.4 percent) above its level one year ago»

«FAO Vegetable Oil Price Index averaged 184.8 points in October, up 16.3 points (or 9.6 percent) month-on-month»

«FAO Dairy Price Index averaged 120.7 points in October, up 2.6 points (2.2 percent) from September and 16.2 points (15.5 percent) above its level in the corresponding month a year ago»

«FAO Meat Price Index* averaged 112.1 points in October, down 0.8 points (0.7 percent ) from its revised value in September, marking the third monthly decline, though still 20.3 points (22.1 percent) above its value in the corresponding month last year»

* * * * * * *

Quelle riportate sono le variazioni medie a livello mondiale.

Queste variazioni possono essere anche molto maggiori da continente a continente e da stato a stato, dipendendo largamente dai regimi impositivi e dai costi di trasporto e distribuzione.

In linea generale, ma con ragionevole approssimazione, i costi al dettaglio sono circa due volte maggiori.

* * * * * * *


«The FAO Food Price Index (FFPI) is a measure of the monthly change in international prices of a basket of food commodities. It consists of the average of five commodity group price indices weighted by the average export shares of each of the groups over 2014-2016. A feature article published in the June 2020 edition of the Food Outlook presents the revision of the base period for the calculation of the FFPI and the expansion of its price coverage, to be introduced from July 2020. A November 2013 article contains technical background on the previous construction of the FFPI.»

* * * * * * *


The FAO Food Price Index at its highest since July 2011.

Release date: 04/11/2021.

» The FAO Food Price Index (FFPI) averaged 133.2 points in October 2021, up 3.9 points (3.0 percent) from September and 31.8 points (31.3 percent) from October 2020. After rising for three consecutive months, the FFPI in October stood at its highest level since July 2011. The latest month-on-month increase was primarily led by continued strength in the world prices of vegetable oils and cereals.

» The FAO Cereal Price Index averaged 137.1 points in October, up 4.3 points (3.2 percent) from September and 25.1 points (22.4 percent) above its level one year ago. International prices of all major cereals increased month-on-month. World wheat prices continued to surge for a fourth consecutive month, rising by a further 5 percent in October, to stand 38.3 percent higher year-on-year, and reaching their highest level since November 2012. Tighter availability in global markets due to reduced harvests in major exporters, especially Canada, the Russian Federation and the United States of America, continued to put upward pressure on prices. Reduced global supplies of higher quality wheat, in particular, exacerbated the pressure, with premium grades leading the price rise. Among coarse grains, international barley prices increased the most in October, underpinned by strong demand, reduced production prospects and price increases in other markets. World maize prices also firmed, supported by gains in energy markets. However, increased seasonal supplies and easing of port disruptions in the United States of America limited the increase in maize values. International rice prices also edged up further in October, although the onset of main crop harvests in various Asian suppliers capped the increases.

» The FAO Vegetable Oil Price Index averaged 184.8 points in October, up 16.3 points (or 9.6 percent) month-on-month and marking an all-time high. The increase was driven by firmer price quotations for palm, soy, sunflower and rapeseed oils. International palm oil prices increased for a fourth consecutive month in October, largely underpinned by persisting concerns over subdued output in Malaysia due to ongoing migrant labour shortages. In the meantime, world prices of palm, soy and sunflower oils received support from reviving global import demand, particularly from India that lowered import tariffs further on edible oils. As for rapeseed oil, the continued strength in international values chiefly stemmed from protracted global supply-demand tightness. Noticeably, rising crude oil prices also lent support to vegetable oil values.

» The FAO Dairy Price Index averaged 120.7 points in October, up 2.6 points (2.2 percent) from September and 16.2 points (15.5 percent) above its level in the corresponding month a year ago.  In October, international price quotations for butter, skim milk powder and whole milk powder rose steeply for the second consecutive month, underpinned by firm global import demand amid buyers’ efforts to secure supplies to build stocks. Seasonally low milk supplies and tight inventories in Europe and a slower start than earlier anticipated to the new milk production season in Oceania also lent support to world milk prices. By contrast, cheese prices remained largely stable, as supplies from major producers were adequate to meet global import demand.

» The FAO Meat Price Index* averaged 112.1 points in October, down 0.8 points (0.7 percent ) from its revised value in September, marking the third monthly decline, though still 20.3 points (22.1 percent) above its value in the corresponding month last year. In October, international quotations for pig meat fell, principally underpinned by reduced purchases from China. Bovine meat prices also fell, reflecting a sharp decline in quotations for supplies from Brazil amid market uncertainty surrounding import suspensions by its leading trading partners over mad-cow disease concerns. By contrast, poultry meat quotations rose, boosted by high global demand, while production expansions remained weak due to high feed costs and avian flu outbreaks, especially in Europe. World ovine meat prices also increased slightly on continued supply limitations from Oceania due to high demand for flock rebuilding.

» The FAO Sugar Price Index averaged 119.1 points in October, down 2.1 points (1.8 percent) from September, marking the first decline after six consecutive monthly increases. International sugar quotations remained, however, more than 40 percent above their levels in the same month of last year, mainly underpinned by concerns over reduced output prospects in Brazil. The recent monthly decline in international sugar prices was triggered by limited global import demand and prospects of large export supplies from India and Thailand. The weakening of the Brazilian Real against the US dollar also contributed to lowering world sugar prices in October. Higher ethanol prices in Brazil, however, prevented more substantial sugar price declines.

Pubblicato in: Cina, Commercio

Cina. Oct21. Exports +27.1%, Imports +20.6 % anno su anno. Surplus 84.54 mld Usd.

Giuseppe Sandro Mela.

2021-11-11.

2021-11-08__ Cina Export 001

                         In sintesi.

– Oct exports +27.1% yr/yr vs +24.5% forecast, +28.1% in Sept

– Oct imports +20.6% yr/yr vs +25.0% forecast, +17.6% in Sept

– Oct trade surplus $84.54 bln vs $65.55 bln forecast

– China’s trade surplus with the United States was $40.75 billion in October

* * * * * * *

Annualizzando il surplus commerciale di ottobre, 84.54 * 12 = 1,014.48 miliardi Usd in un anno, che sarebbe un gran bel risultato.

I media occidentali davano, e danno tutt’ora, per stremato il sistema economico cinese.

Tuttavia questi macrodati non corroborano quelle asserzioni.

Per avere un export cresciuto del 27.1% YoY è necessario che la produzione industriale sia cresciuta di conserva. Poi, il surplus della bilancia commerciale non ammette certo repliche di sorta: è mastodontico.

* * * * * * *


China Oct exports beat forecasts, offer buffer to slowing domestic economy.

– Oct exports +27.1% yr/yr vs +24.5% forecast, +28.1% in Sept

– Oct imports +20.6% yr/yr vs +25.0% forecast, +17.6% in Sept

– Oct trade surplus $84.54 bln vs $65.55 bln forecast

* * *

Beijing, Nov 7 (Reuters) – China’s export growth slowed in October but beat forecasts as booming global demand for holiday seasons, an easing power crunch and mitigating supply chain disruptions offset some pressures facing the world’s second-largest economy.

Imports, however, missed analysts’ expectations, likely pointing to the overall weakness in domestic demand.

Outbound shipments jumped 27.1% in October from a year earlier, slower than September’s 28.1% gain. Analysts polled by Reuters had forecast growth would ease to 24.5%.

Zhiwei Zhang, chief economist at Pinpoint Asset Management, said the strong exports would help to mitigate the weakening domestic economy, and offer the government with more room to manoeuvre economic policy.

“The government can afford to wait ‘til the year end to loosen monetary and fiscal policies, now that exports provide a buffer to smooth the economic slowdown,” he said.

Recent data has pointed to a manufacturing slowdown. Factory activity shrank for a second month in October, an official survey showed, while growth in industrial output eased to the lowest since March 2020 – the first wave of the pandemic.  

However, under heavy government intervention, some supply constraints have started to ease in recent weeks. A power crunch – triggered by a shortage of coal, tougher emission standards and strong industrial demand – has started to ease after heavy government intervention.

Premier Li Keqiang said on Tuesday that China’s government will take measures to support the industrial sector as the economy faces renewed downward pressures.

Imports jumped 20.6% in October from a year earlier, accelerating from a 17.6% gain in September but missing the expectations for a rise of 25%.

China’s crude oil imports plunged in October to their lowest since September 2018, while coal imports slowed as domestic production boomed. Purchases of iron ore slipped for a second month on easing demand.  

China posted a trade surplus of $84.54 billion last month, above the poll’s forecast of $65.55 billion and September’s $66.76 billion surplus.

The country’s economy grew 4.9% in the July-September quarter from a year earlier, the weakest reading since the third quarter of last year.

China’s trade surplus with the United States was $40.75 billion in October, Reuters calculations based on customs data showed, down from $42 billion in September.

U.S. Trade Representative Katherine Tai pledged last month to exclude some Chinese imports from tariffs while pressing Beijing over its failure to keep some promises made in a “Phase 1” trade deal made under the Trump administration.

Pubblicato in: Commercio

Arabia Saudita. 2021Q3. Pil in crescita del 6.8% anno su anno.

Giuseppe Sandro Mela.

2021-11-10.

Arabia Saudita 001

«Saudi Arabia’s economy grew 6.8% in the third quarter from a year earlier»

«This positive growth was due to the high increase in oil activities by 9.0% as a result of rising world demand for crude oil and the increase of Saudi production in 2021»

«Seasonally adjusted real gross domestic product (GDP) grew 5.8% quarter-on-quarter on the back of 12.9% growth in oil activities»

«Non-oil activities posted 6.2% annual growth in the third quarter»

«The Saudi government forecast in September economic growth of 2.6% this year and 7.5% in 2022»

* * * * * * *

Si noti come il sistema economico saudita dipenda quasi unicamente dalle vendite del petrolio estratto. Solo il 6.2% del prodotto intero lordo è costituito da prodotti non petroliferi.

* * * * * * *


Saudi Q3 GDP growth at 6.8%, highest since 2012.

Dubai, Nov 9 (Reuters) – Saudi Arabia’s economy grew 6.8% in the third quarter from a year earlier, the fastest expansion since 2012, official data showed on Tuesday, as the world’s top oil exporter benefits from rebounding global energy demand.

“This positive growth was due to the high increase in oil activities by 9.0% as a result of rising world demand for crude oil and the increase of Saudi production in 2021,” said the General Authority for Statistics, based on flash estimates.

Seasonally adjusted real gross domestic product (GDP) grew 5.8% quarter-on-quarter on the back of 12.9% growth in oil activities, it said.

The largest Arab economy was hit hard last year by the twin shocks of the COVID-19 pandemic and record-low oil prices.

The economy has rebounded this year, however, amid easing coronavirus-related restrictions, a vaccine roll-out and higher crude prices.

Non-oil activities posted 6.2% annual growth in the third quarter, the flash estimates showed.

“Saudi Arabia’s economic recovery looks to have picked up speed in Q3 and should remain strong over the rest of this year and 2022, underpinned by rising oil output”, London-based Capital Economics said in a report last week.

“Looking ahead, as oil production rises, virus restrictions are relaxed further, and the government leans towards loosening fiscal policy, the recovery is likely gather momentum”, it said.

The Saudi government forecast in September economic growth of 2.6% this year and 7.5% in 2022, saying projections for 2022 were based on expectations of increased oil production starting in May next year as part of an OPEC+ agreement, global demand recovery and improvements in global supply chains.

Pubblicato in: Cina, Commercio

Cina. Con gennaio entra in vigore il Rcep, il più grande mercato libero mondiale.

Giuseppe Sandro Mela.

2021-11-10.

Rcep 001

Rcep, Regional Comprehensive Economic Partnership, indica una zona di libero scambio tra 15 paesi asiatici bagnati dall’Oceano Pacifico, più Australia e Nuova Zelanda. È un conglomerato che assomma circa un terzo della popolazione mondiale e poco più di un terzo del pil mondiale.

Adesso siamo solo agli inizi, ma a breve la zona geoeconomica dell’Asia oceanica assurgerà al ruolo di polo principale del mondo.

La prima cosa che salta immediatamente agli occhi è l’assenza dal Rcep degli Stati Uniti, anche se molti paesi entrati nel Rcep avevano consistenti rapporti con l’America. È nella logica delle cose che con il tempo questi quindici paesi rinsaldino i reciproci rapporti commerciali, ai quali seguirà per forza di cose anche un aggrado politico. Sarà un processo lento e graduale dal quale gli Stati Uniti saranno esclusi.

Per seconda cosa, gli Stati Uniti dovranno usare molta diplomazia, arte nella quale non brillano, nel trattare con gli stati del Rcep, per non far precipitare gli eventi e perderli in modo definitivo. Ci si ricordi che gli americani hanno il vizietto di voler fare la morale a tutto il mondo, ed il mondo non ne può di più.

La terza cosa, da ultima ma non per ultima, gli Stati Uniti non sono stati ammessi nel Rcep. Ne sono tagliati fuori.

* * * * * * *

Giappone. Il Parlamento ha ratificato l’adesione al Rcep. – Capolavoro diplomatico.

Cina. Rcep. Non enfatizzato, il vero obiettivo è il controllo del mondo.

Asia. Firmato l’Accordo Rcep. Nasce il più grande mercato libero mondiale.

* * * * * * *


World’s largest trade deal will come into force in January. The U.S. won’t be part of it.

– The Regional Comprehensive Economic Partnership or RCEP will come into force in January 2022.

– Australia and New Zealand were the latest to ratify the world’s largest trade agreement.

– Other countries that have ratified RCEP include Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam, China and Japan, according to Australia’s Department of Foreign Affairs and Trade.

*

The world’s largest trade deal — which includes China and excludes the U.S. — will come into force in January next year.

It comes as Australia and New Zealand announced they have ratified the agreement.

The Regional Comprehensive Economic Partnership or RCEP was signed last year by 15 Asia-Pacific countries. The countries are the 10 members of the Association of Southeast Asian Nations and five of their largest trading partners China, Japan, South Korea, Australia and New Zealand.

Australia said in a statement on Tuesday that its ratification — together with New Zealand’s — paved the way for the deal to enter into force on Jan. 1, 2022, and allowed RCEP to reach a “milestone.”

New Zealand confirmed its ratification in a separate statement on Wednesday.

RCEP will be in force 60 days after a minimum of six ASEAN members and three non-ASEAN signatories ratify the agreement.

ASEAN countries that have ratified the deal so far are Brunei, Cambodia, Laos, Singapore, Thailand and Vietnam, according to the website of Australia’s Department of Foreign Affairs and Trade. In addition to Australia and New Zealand, other countries outside ASEAN that have also ratified RCEP are China and Japan.

RCEP covers a market of 2.2 billion people and $26.2 trillion of global output. The partnership will create a trade grouping that covers about 30% of the world’s population, as well as the global economy.

It is also larger than other regional trading blocs such as the United States-Mexico-Canada Agreement (USMCA) and the European Union.

Analysts have said that economic benefits of RCEP are modest and would take years to materialize.

Still, the deal was widely seen as a geopolitical victory for China at a time when U.S. economic influence in Asia-Pacific has waned.

Pubblicato in: Cina, Commercio, Devoluzione socialismo

Cina. Il film The Battle of Lake Changjin visto da 633 milioni di persone. Hollywood nei triboli.

Giuseppe Sandro Mela.

2021-11-05.

2021-10-19__ Cina. Il film The Battle of Lake Changin visto da 633 milioni di persone 001

Hollywood. Sta perdendo il grande mercato cinese. Troppo liberal.

Bbc. Bandita dalla Cina perché propala fake news. – Xinhua e Bbc.

Cina. Si ribella alla femminilizzazione dei suoi maschi. Li vuole virili.

Il mercato cinematografico e televisivo cinese sta affermandosi come il più lucroso al mondo.

Ma non tollera i film prodotti da Hollywood che veicolano propaganda anti-cinese, intrisi di ideologia lgbt, di scene gay inneggianti ad ogni sorta di trasgressione sessuale, femminilizzando i maschi cinesi.

O Hollywood si adegua, oppure non penetra quel mercato.

* * * * * * *

The Chinese film beating Bond and Marvel at the box office.

«The biggest movie in the world right now is not the latest Bond film No Time To Die or even Marvel’s Shang-Chi and the Legend of the Ten Rings. It’s a Chinese propaganda film about the 1950s Korean War, centred on a story of Chinese soldiers defeating American troops despite great odds»

«→→ In just two weeks since its release, The Battle at Lake Changjin has made over $633m (£463m) at the box office. This puts it far ahead of Shang-Chi’s global earnings of $402m, and in just half the time ←←»

«It is set to become China’s highest-grossing film ever»

«Commissioned by the Chinese government, The Battle At Lake Changjin is just one of several nationalist films which have become big commercial hits in China in recent years.

In 2017, Wolf Warrior 2, about a Chinese soldier saving hundreds of people from baddies in an African warzone, raked in a record 1.6bn yuan ($238m; £181m) in just one week.»

«Lake Changjin depicts a brutal battle in freezing weather which the Chinese claim was a turning point in the Korean War – formally known in China as the “War to Resist US Aggression and Aid Korea”»»

«Thousands of young Chinese soldiers died at the titular lake to secure a crucial win against American forces»»

«Work units frequently organise collective viewings, and with over 95 million card-holding members, that promises a significant box office boost»

«→→ But China’s domestic film success is potentially adding to a list of problems that foreign players like Hollywood already face, in their attempt to win over the lucrative Chinese market ←←»

«But China’s domestic film success is potentially adding to a list of problems that foreign players like Hollywood already face, in their attempt to win over the lucrative Chinese market»

«As the production values of Chinese films continue to improve, Hollywood may become less relevant, but Hollywood tells universal stories that China can’t or won’t tell»

* * *

«Hollywood bosses have been censoring films to placate the film market in China, a report has suggested»

«The lengthy report says US film companies want to avoid losing access to China’s lucrative box office market.

It said casting, content, dialogue and plotlines were increasingly being tailored to appease censors in Beijing.

The report, compiled by the free speech charity PEN America, claimed China was therefore influencing movies released in cinemas around the world»

«In effect, Hollywood’s approach to acceding to Chinese dictates is setting a standard for the rest of the world»

* * * * * * *

O Hollywood si adegua, oppure non penetra il mercato cinese.

Uno degli aspetti cruciali consiste nel fatto che Hollywood non riesce a penetrare il mercato di molti altri paesi senza rispettare i canoni cinesi. Semplicemente, il pubblico non va a vederli.

«In effect, Hollywood’s approach to acceding to Chinese dictates is setting a standard for the rest of the world»

Quasi solo l’enclave liberal socialista occidentale gradisce i film americani, ma il pubblico è sempre più scarso. Il botteghino è in perdita.

Questo è uno degli aspetti della devoluzione dell’ideologia liberal.