Summary of newspapers of the previous days – 24. 7. – 26.7. 2009

Senate gave green to bio-fuels

An amendment of act on consumption tax approved by the Senate will enable a support of liquid bio-fuels in CR transport and a production of bio-fuels of 2nd generation produced from non-food commodities. The passed novel of law on consumption taxes represents a tax allowance for high-percent mixtures or pure bio-fuels and bio-gas. A reduced rate of the consumption tax is applied for mixtures of diesel oil with methyl ester of fat acids (FAME) where FAME represent a share of at least 30 % (so called mixed diesel oil).

Corn – the biggest growth over 6 months

During yesterday´s trading on Chicago Board of Trade corn experienced the biggest growth over the last 6 months whereas December contract strengthened by 19,5 cents (6,1 percents) to 3,385 dollars for bushel. The cause is speculations that American farmers sowed a smaller area. USDA estimated to the 30th June that the sown area would reach 87 million acres which is by 1,2 % more against the foregoing year. Tim Hannagan from a company Alaron Trading told that thanks to wet and cold weather in May and June, farmers sowed less corn. Moreover, a weather forecast for next days will not be favourable for corn because temperatures will be abnormally low.

All-European crisis in milk sector

The European Commission published a release on a situation on the milk and milk products market on the 22nd of July. The release is accompanied by a press declaration which was issued also in Czech language. The European Commission makes certain that it will do its best to stabilize the milk market and support milk producers. For this purpose it gives details of available measure which should help to solve the critical situation.

Food concern Danone increased profit almost by half

French food concern Danone increased its net profit in the first half-year by 44 percents to 978 million Euro (roughly 25 billion CZK) because reduction in process contributed to a revival of volume of sale of a key division of fresh milk products. It was announced by a firm today which operates also in Czech market. The firm´s takings in the half-year without inclusion swings of exchange rates and changes in plant structure increased by 1,6 percents. The fresh milk product division shared in the half-year takings by almost 60 percents.