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Scientist warns that hurricane risk to Gulf Coast is increasing 20 years after Katrina
A new study warns that the Gulf Coast of America is becoming increasingly vulnerable to hurricanes. This comes 20 years after Katrina destroyed New Orleans and hundreds of kilometers of coastline. Marc Bove is a German Reinsurer Munich Re meteorologist who warned that with time, the likelihood of major hurricanes making landfall in the area will increase and the effectiveness post-Katrina of flood defense systems would diminish. Katrina, the worst hurricane to ever hit the United States, made its debut in August 2005. It began in Florida, then intensified when it reached the Gulf of Mexico. The storm caused nearly 1,400 fatalities and a total of $205 billion, inflation-adjusted, in damage. "The hurricane risk is increasing, and it's not just in the Gulf area." Bove told. Bove stated that today's Katrina would cost more, and not just due to inflation. The flood protections in New Orleans will gradually erode due to rising sea levels and sinking ground levels. (Reporting and writing by Alexander Huebner, editing by Rachel More).
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Gold falls with Fed Chair Powell's Speech on Radar
Gold prices fell on Friday, as the U.S. Dollar strengthened. Investors were also awaiting Federal Reserve Chair Jerome Powell to speak at the Jackson Hole Symposium for clues about the central bank's policy. Spot gold fell 0.5% to $3,322.43 an ounce at 8:43 am EDT (1243 GMT) while U.S. Gold Futures fell 0.5% to $3,364.20. Investors backed off rate-cut bets in anticipation of Powell's address at 10:00 a.m. ET (1400 GMT). Powell's speech at the annual Jackson Hole Economic Conference comes amid unprecedented pressure from President Donald Trump on the central banks. However, mixed economic data could pull Powell towards a middle-ground that leaves many major questions unresolved. David Meger is director of metals and futures trading at High Ridge Futures. Any signals about possible rate cuts this year may have a significant impact on gold prices. Even subtle hints will have an impact. "I believe we will see (Powell), take a more cautious stance, considering that two important pieces of economic information, the PCE report and the jobs report, still need to be submitted before the September meeting." CME's FedWatch showed that traders now see a 71.5% probability of a rate cut of 25 basis points in September. This is down from 85.4% one week ago. Gold is usually more profitable in low-interest rate environments, since it offers no yield and looks more attractive compared to other assets that pay interest. In other parts of Asia, gold demand was subdued as price volatility held buyers back. However, jewellers have resumed their purchases in India ahead of the festival season. Silver spot fell 1% to $37.78 an ounce. Platinum fell 1.1% to 1,338.25 and palladium dropped 0.5% to 1115.77. Ashitha Shivaprasad, Bengaluru (Reporting and Editing by Jan Harvey).
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Aldebaran, a Canadian company, plans to invest $1.5 billion in Argentina's copper project
Javier Robeto, the country manager of Aldebaran Resources Canada, said that at least $1.5 billion will be needed to develop the Altar copper project located in northern Argentina. Robeto stated that the company will include this figure in its preliminary assessment of September. This will show Altar has about 32 billion pounds copper resources and approximately 6.7 million ounces gold resources. Aldebaran does not know if it will be able to spend the money in time to qualify under RIGI (the government's incentive program), which provides long-term tax breaks as well as access to international dispute tribunals for investments above $200 million. The scheme will continue to accept applications until July 2026. There is a possibility of an additional year. It's not sure we'll make the cut. What happens if RIGI is stopped? Robeto explained that the tax burden would automatically return to 54%. RIGI has approved only two lithium mining projects so far, both of which were implemented in October by President Javier Milei. Glencore and McEwen Mining, among others who are working on copper projects, have also applied for the program. Robeto has not provided a timeline for the construction and production of Altar. The estimated lifespan is 20-25 years. The economic assessment includes two scenarios of copper production in either cathode or concentrate form. Robeto explained that the idea was to do a trade-off, examining both pros and cons. (Reporting and Writing by Lucila SIGAL, Editing by Jan Harvey).
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Rainforest to retail - Indonesian women protecting nature through work
Women use flowers and plants for ecoprinting Sustainable livelihoods protect at-risk rainforest Families can get help with food and school fees by receiving income By Leo Galuh A group of women who work in a conservation park located in Citalahab Sentral - a small village inside Gunung Halimun-Salak National Park - aims to show that nature protection and earning a living can be compatible. Ambu Halimun (which means "Mothers Of Halimun" is Sundanese) gathers foliage rich in natural colours and tannins. Ecoprinting is a technique that uses the flowers and leaves to transfer pigments onto the fabric. Ambu Halimun sells the skirts, scarves, and tote bag made from the intricately-printed fabric in international markets. The women have carved out a livelihood that is sustainable from the rainforest, without having to cut down trees or hunt wildlife. The group is still a small force, but it is growing. It is aiming to become a powerful enough force to make a difference in protecting Indonesia's natural environment. According to United Nations statistics, Indonesia is a biodiversity hotspot. It has a large share of the global flora, fauna and flowering plants, including 17% of bird species. Orangutans and Javan gibbons, Sumatran Tigers and Sumatran tigers are just a few of the critically endangered species that live in its rainforests. Deforestation caused by mining, agriculture and infrastructure is a serious threat to biodiversity. Global Forest Watch reports that between 2002 and 2024 the country lost 10.7 millions hectares (26,4 million acres) in humid primary forest. The human population is growing but the land is limited. They will now be the ones to lead the conservation effort because they have the knowledge and skills to do so," says Rahayu Oktaviani. She is the co-founder of the Javan Gibbon Conservation group, Konservasi Ekosistem Alam Nusantara. JAVAN GIBBONS Citalahab Sentral, with fewer than 300 inhabitants, relies on small-scale farming and tea farming. Tourism through homestays, forest treks, and other activities is also available but it provides inconsistent income. The KIARA group started offering training to residents in ecoprinting and sewing, natural fertilizer production, English, and public speaking after the pandemic devastated local tourism. Tourism earnings are still far below the pre-pandemic level, despite a slow return of guests since 2022. Yuliana is a mother of 4 and a member of Ambu. She said that the income she received from her husband's homestay was not enough to cover daily expenses. She now prints fabrics with motifs of the flora. Yuliana (who goes by one name) said, "I had no idea that leaves would produce natural colors to make ecoprint." KIARA, together with the women, has identified at least 24 rainforest plants species that contain tannins - natural compounds which bind colors to fabrics and prolong their life. Members of Ambu Halimun sell their products through social media, as well as to tourists. They accept orders via Instagram, and prices range from 250,000 Rupiah ($15) up to 700,000. The group's ecoprint signature is a Javan Gibbon motif. Sharing stories about the gibbon habitat and the threats that it faces due to deforestation, hunting and other factors helps raise awareness of conservation in the local community. The gibbon, a small ape that has silver-grey hair and a black facial pattern, is in danger. According to the International Union for Conservation of Nature (IUCN), there are only 4,000-4500 gibbons left in Indonesia. FOOD AND SCHOOL FEE Ambu Halimun's Wulan says her ecoprint earnings have made a real difference. She said that the majority of her family's expenditure is on food and school fees for her children. If he works for 20 days, her husband, who is a tea picker earns between 800,000.00 ($49) to 1,140.000 ($70). Many families borrow money in order to survive, and end up in debt. Ecoprint pays me 2 million Rupiah (122 dollars) every quarter. "It's enabled me to save," Wulan said as she removed the boiled marigold flower from the fabric. KIARA plans to expand its ecoprinting efforts, but its artisanal character means that its size will be restricted. Harumi Supit is vice president of Amartha Financial's public relations department. Amartha Financial provides services to more than 3.3 million women owned businesses in rural Indonesia. She said that to reach and sell in bigger markets, they require resources, transport and channels of distribution as well as careful planing. She said that maintaining quality standards is a challenge when you want to reach a wider audience. Ambu Halimun sold 41 pieces in 2020, and 237 the previous year. By mid-2025 it had reached 130 sales. Oktaviani said that KIARA’s role is to expand the group, encourage residents – especially women – to adapt to the post-pandemic changes in the economy and to find solutions within the environment. She said that they have an in-depth knowledge of the native plants. She said that the leaves used in ecoprint were often the same ones used traditionally for herbal remedies or as raw food. It's rooted into traditional knowledge which is slowly disappearing. She said that the project is not only helping to keep the forest intact but also empowers women, who "used to be tucked in the kitchen."
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Stocks on hold as traders wait for Powell's speech
The stock market was largely flat on Friday, as traders awaited the key speech by Federal Reserve Chairman Jerome Powell this weekend at the annual Jackson Hole Symposium that could shed some light on future monetary policy. Powell's previous speeches at this event have often moved the markets. This year's remarks will be closely scrutinized as his position is under heavy scrutiny from U.S. president Donald Trump. There are concerns that the Fed's autonomy could be threatened. Investors have reduced their bets that the Fed will cut rates at its September meeting due to a surge in U.S. Producer prices. This is down from 85% a week earlier. The Jackson Hole event also featured other Fed speakers who were lukewarm about the idea of a cut in September, despite recent signs that the U.S. labor market is weakening. Nabil Milali said that a cautious tone from Powell regarding the prospects of a September rate cut, deferring to future jobs and inflation data, could be enough to reduce market pricing down to a 50/50 call. Milali said that Powell could also decide to defend the Fed’s independence. He said that he believed the unofficial topic of this meeting was central banks' autonomy. MSCI's broadest global stock index was essentially flat for the day after European stocks rose in the morning before the speech. Wall Street futures are up between 0.1-0.2%. China's CSI 300 Index rose 2.1% after DeepSeek upgraded its flagship V3 AI Model and reported that Nvidia asked Foxconn suspend work on the H20 AI Chip, lending support for Chinese rivals. The dollar index (which measures the greenback versus six peers) edged up 0.1%, while the euro fell 0.1% to $1.15985, after an official revision showed that Germany's second-quarter economy contracted by 0.3%. Data from Japan showed that core consumer prices fell for the second consecutive month in July, but they remained above the central banks' 2% target. This has kept alive expectations of a rate increase in the near future. This did not help the yen much, as it was on track for a 1% drop for the week. BOJ Governor Kazuo Ueda is also scheduled to speak in Jackson Hole, Wyoming this weekend. Brent crude oil prices fell, Brent crude trading at $67.5 a barrel last, down 0.2% from Thursday's gains as Russia and Ukraine blamed one another for the stalled peace processes. Gold spot fell 0.2% to $3,330.9 an ounce.
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Copper prices rise on strong demand in advance of Powell's speech
The copper price rose for the third time in a row as China, the world's largest metals consumer, remained strong and investors hoped that a speech from U.S. Central Bank chief John Williams would indicate interest rate reductions. The benchmark three-month copper price on the London Metal Exchange rose 0.2% to $9,745 per metric ton. This is down from a high of $10,020.50 reached on July 2. It was its highest in more than three months. The Chinese demand for the metal remains healthy, according to Nitesh Sha, a commodity strategist with WisdomTree. Last month, U.S. president Donald Trump imposed tariffs of 50% on copper products. However, he excluded ores, concentrates, and cathodes. The Yangshan Copper Premium is a premium in China Since August 11,, which represents the demand for imported copper into China, is up 13% at $51 per ton. Investors await the speech of U.S. Federal Reserve chair Jerome Powell at the annual Jackson Hole Conference in Wyoming, due to start at 1400 GMT. Shah said that if there is any indication of a dovish tilt, it could be a very positive for copper prices because that would keep demand up. The dollar index was firmer on Friday, after some Fed officials were hesitant to cut rates next month. The dollar is stronger, and therefore the prices of commodities in U.S. dollars are higher for foreign buyers. LME aluminum also increased, adding 0.15%, to $2,589 per ton. Analysts at Guosen Futures on Friday said that the anticipation of a seasonal increase in demand next month could have helped to boost aluminium prices. Other metals include LME Zinc, which rose 0.8% to $2.787.50 per ton. Lead gained 0.6% at $1.981, Tin increased 0.1% at $33,465, while Nickel fell 0.1% at $14,920. (Reporting and editing by Jan Harvey; Additional reporting in Beijing by Amy Lv; Reporting by Eric Onstad)
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Dollar firms as gold falls, but Powell's Jackson Hole remarks are in the spotlight
The dollar's strength caused gold to fall on Friday. Markets are awaiting Jerome Powell's address at the annual Jackson Hole Symposium for further insight into the Fed's monetary policies. By 0817 GMT spot gold had fallen 0.4% to $3,326.35, while U.S. Gold Futures for December Delivery were down 0.4% to $3,368.80. UBS analyst Giovanni Staunovo stated that the moderately stronger U.S. dollar was playing a significant role in the current gold pullback. Gold becomes more expensive to overseas buyers when the dollar is stronger. Investors reduced their expectations of a Fed rate reduction in September, causing the dollar index to rise to a two-week high. According to CME's FedWatch, futures markets now indicate that there is a 71% probability of a rate cut by a quarter point next month. This is down from over 90% a week ago. In a low-interest rate environment, non-yielding gold tends to perform well. Fed officials appeared to be lukewarm on the idea of a cut in rates next month, as investors prepared for Powell's Friday 1400 GMT speech. Staunovo stated that their comments indicate the next U.S. Central Bank meeting will be "intense, with some favoring large cuts while others (favor) no movement at all". Fed policymakers face a challenge because, despite signs of a weakening labour market, inflation is still above the central banks' 2% target. It could even go higher as a result of the Trump administrations aggressive tariff increases. Recent data on the US labour market showed that unemployment claims in the United States rose by nearly three months last week, and the week before they reached a four-year high. Silver spot was down 0.4% to $38.03 an ounce. Platinum fell 0.6% to 1,343.80 and palladium increased 0.2% to 1,112.85. (Reporting Ishaan Arora in Bengaluru; Editing by Jan Harvey)
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China tightens its grip on rare earth supply quotas
China, which is the dominant supplier of rare earths in the world, announced on Friday new measures to regulate mining, smelting, and separation of these critical minerals that are key to the energy transition. This will further tighten its grip on supply. Beijing regulates, manages and controls rare earth mining and smelting via a quota-based system. In a recent statement, the Ministry of Industry and Information Technology announced that these new rules would include imported raw materials within that system. The process of public consultation began in February. Analysts said that the inclusion of imported iron ore indicates a tightening in supply. Companies were concerned that they might lose their access to feedstock. Rare earths is a grouping of 17 elements that are used in products ranging from magnets in wind turbines, electric vehicles and consumer electronics to lasers in military equipment. In April, in response to the U.S. tariff increases, China added several rare earth products and magnets on its export restriction list. The first 2025 mining and smelting license was quietly released Quotes Without making its usual public statements, reported last year, citing sources. Reporting by Beijing Newsroom and Lewis Jackson, Editing by Muralikumar Aantharaman and Kate Mayberry
SPECIAL RELEASE-Less Rain, More Wheat: How Australian Farmers Fought Climate Doom
Curtis Liebeck, in a newly planted wheat field scoops up some sand and pours it through his fingers. The light brown dirt is a far cry from the clumpy, dark earth of more rainy nations.
The Liebeck farm in Western Australia is 300 km (186 miles), away from Perth. It receives half as much rain as the wheatbelts in central Kansas and northern France. The state's growing-season rainfall has decreased by one-fifth in the last three decades.
It should be harder to farm. Liebeck's yield of wheat has doubled in the last two years. Liebeck, 32 is part of the revolution in farm management which has allowed Australia to produce 15 million metric tonnes more wheat per year than it did in the 1980s despite the hotter and drier climate. This is the equivalent of around 7% of the wheat that is shipped around the world each year, and it's more than Britain's annual harvest.
According to U.S. Department of Agriculture statistics, Australia's wheat-farming productivity has surpassed that of the United States, Canada, and Europe. It continues to grow, while other developed markets are slowing or reversing.
Many growers and scientists say that the ability of Australia's wheat farmers to produce more for a growing world population is largely due to a series of innovations made since the 1980s. These innovations changed how farmers planted seeds, how they planted them, and the way they cultivated the soil. The Australian system of applied researchers and the relentless search for efficiency by farmers who receive minimal subsidies have accelerated these advances.
This account of the way Australia's wheat farmers defied climate odds is based upon interviews with over 20 farmers and scientists, a review and analysis of more than 12 academic papers, and an examination and analysis of decades worth of farm data and weather. Visited four farms, two government research facilities and a seed breeding company.
Australia's fields aren’t the most productive, nor is it the largest wheat producer. It is still important, but for two different reasons. The modest population of the country means that its extra production is used to feed other countries. It is also the driest continent, and climate instability could have made some farming unprofitable. It is one of the top exporters of wheat in the world.
Five scientists said that Australia's success in dry-crop land research has inspired other countries, such as the U.S., Canada and Australia. Although some Australian practices have been widely replicated, like soil reengineering, others, like the re-engineering of soil, are not as widespread, because the ground conditions may be less suitable. The country's focus in closing the gap between maximum theoretical crop yields, and actual results has spurred worldwide efforts to improve productivity during the last 15 years.
Ken, his 66 year old father, was amazed that Liebeck's farm produced 1 ton per hectare despite the lowest rainfall it had seen in half a decade.
Liebeck said: "I asked my dad what life would have been in his time and he replied, 'Absolute Disaster'."
In such conditions, the elder Liebeck said he would only have produced 400 kg per hectare around the turn-of-the millennium.
BEACH SAND
Australia's farming has always been precarious. Weather conditions can change from drought to heat, fire, and flooding. The soil lacks nutrients.
Official weather data shows that Western Australia has experienced the largest decline in rainfall average of Australia's cropping regions over the last three decades. The rainfall patterns have changed, with more rain falling in the summer when fields are fallow and less in the winter when crops are growing.
It also has some the most poor soils.
Imagine beach sand," Tress said Walmsley CEO of Perth based seed breeding company InterGrain. The company develops wheat strains that are better suited to Australian conditions. These soils are depleted of nutrients, toxic and resistant to water. At the end of every season, the crop is dehydrated.
The thirst for water was the catalyst for many changes in Australian agriculture. Scientists Reg French and Jeff Schultz calculated in 1984 that, under ideal conditions, Australia's growers should be able, after evaporation of water, to produce 20 kilograms per hectare of wheat for every millimeter rain received during the growing season from April to October -- four times more than they were currently achieving.
John Kirkegaard is a plant scientist with the Commonwealth Scientific and Industrial Research Organisation, the national science agency of the Australian Government. The researchers and growers focused on closing the yield gap and began benchmarking the water-use efficiency in order to extract more crop from each drop.
The key was to switch from tilling agriculture to no-till. The constant plowing of soil to control weeds damaged the soil and exposed it for evaporation. This reduced the amount water that could be stored by crops. The dust bowls of the 1930s in America gave rise to no-till techniques, which use herbicides rather than plowing. According to the Grains Development and Research Corp., Australian adoption increased from 5% to 80% in the early 1980s. Western Australia has a higher adoption rate than the rest of Australia.
Over time, the compacting of soils by farm equipment driving over tilled fields hampered water infiltration and root development. Farmers began to restructure the soils by spreading lime on them to reduce acidity and then using heavy machinery.
Liebeck shows off his deep ripper. It is a huge, orange steel frame with ten metal claws which can rip through soil up to 84 cm deep. The machine is so heavy that even his tractor with 540 horsepower can only pull it at a walking pace.
The spader is a rotating cylinder that has protruding shovels heads. It breaks up the compacted earth layers. No-till farming is a tillage method that does not use plowing or ripping to prepare the soil for planting. Spading and ripping are bolder, but less frequent interventions that often go deeper. The soil is restructured and the constituents are changed. Unproductive layers become a more absorbent mixture that holds water and nutrients better.
Liebeck stated that dragging the ripper across a field could increase his wheat yield between 36% to 50%. The machine cost A$220,000 (roughly $143,396). He said that the machine was "a bit expensive for a glorified hoe," but "digs up profits."
Farmers and researchers say that rippers and spaders may be used in other countries, but not as extensively as they are in Australia. In areas that are wetter, such as Europe and the UK, rippers can be difficult to pull through heavy soils.
Two-thirds of Western Australia's roughly 4,000 growers had deep-ripped, spaded or inverted their soil by 2023, state government-commissioned research found, up from 52% in 2019.
Kirkegaard said that efforts to improve Australian soil echo those in Europe and North America, where land is drained and then reclaimed from the sea. He said that the strategies used in Australia to turn poor farmland into productive land were probably unique.
Other innovations helped farmers curb disease. They introduced new crop rotating, including canola (also known as rapeseed), an oil seed, and lupins (a legume used in animal feed). Canola area in Australia has risen from 50,000 ha in 1989 to 3.5 mil hectares now, according to data provided by the agriculture ministry.
Kirkegaard explained that farmers began sowing up to four weeks early, and sometimes on dry soil, in order for plants to flower at the best time. Kirkegaard said that sowing began around mid-April. This gives wheat several months of growth during the winter and spring in the south, when there is still water available.
TAKE-OFF
Productivity soared. In the early 1980s, Western Australian farmers grew 3.3 kilograms of wheat per hectare, which is a third less than the national average. This was a third lower than the national average. In 2024 they were only one-fifth short of the national average of 11.5 kg.
These improvements have helped Australia double its exports of wheat in the past four decades, to over 20 million tonnes a year. The majority of the wheat is exported to Southeast Asia and Middle East where population growth has been rapid.
The rising production has held prices in check. In the 1980s, a bushel of Chicago Board of Trade wheat, which is the benchmark for the world, cost an average of $3.50. Since then, the world population has increased by 3.5 billion. However, a Chicago bushel now costs $5.50. This is a far lower increase than inflation.
Dennis Voznesenski is an agricultural analyst with Commonwealth Bank of Australia. He said that a serious threat to the Australian wheat supply could cause prices to increase significantly. He noted that Australia accounts for the same proportion of global trade as Ukraine before Russia's invasion. Wheat prices increased by 60% after the war caused disruptions in production and exports.
Farmers and researchers agree that there is still room to improve productivity.
Kirkegaard said that advances in seed breeding and farming management should increase maximum theoretical yields from 25 kg to 30 kg, and possibly even more.
According to Greg Rebetzke of the CSIRO, researchers and breeders have been testing wheat varieties whose protective sheaths - called coleoptiles – can be pushed up to a depth of soil between 10 and 12 centimeters, rather than 2 to 4 centimeters, allowing the seeds to penetrate the subsoil. According to Rebetzke, field trials have shown that long coleoptiles can increase yields up to 20%. Several varieties will be commercially available in Australia within the next five years.
Rebetzke explained that people are interested in the technologies developed by Rebetzke and want to know if they will be useful for their country. He cited Canada, India and Bangladesh as examples of countries with a high level of interest. "The dry climate we are experiencing is the future for some countries which are currently wetter."
Researchers in Western Australia have been experimenting with soil re-engineering, including the addition of clay, compost, and gypsum, to increase the earth’s ability to retain water and produce grain, according to Gaus Azam.
Ty Fulwood is a grower from Grass Valley in the east of Perth who showed what was achieved. He said that they were trying to make the perfect soil by adding clay to the top 10 centimeters of soil.
Fulwood admitted that the system is expensive but, if it can deliver on its promise of doubling yields, researchers and farmers will invest money in it.
There are limits to adaptation. Wheat does not thrive in conditions of high temperatures, as they accelerate the evaporation process and growth phase. The rain is decreasing and becoming less predictable.
In a paper published in 2017, plant scientist Zvi Hochman found that hotter and drier conditions reduced Australia's maximum wheat yield achievable by 27% from 1990 to 2015.
Hochman said that if we continue to work hard, we could achieve 80% of the potential yields. But going beyond this in a climate with a high degree of variability is unlikely to be economically viable.
There are also downsides. Scientific studies have shown that herbicides are harmful to the environment and can encourage resistant weeds. Australian farmers use more synthetic nitrogen fertilizer, even though it is less per hectare, than other countries, according to U.N. This is made using natural gas which contributes to carbon dioxide emissions. They are also affecting the Earth on a large scale.
Azam, a researcher, said: "We must always be careful because we disturb the natural soil." "But benefits far outweigh risks."
Other Nations
Australian yields are low compared to global standards due to challenging soil and weather conditions. USDA data shows that Australia's yield of 2.6 tons/hectare was lower than the U.S. (3 tons), China (5.9 tonnes), and Britain (7 tons) last year.
Since the 1980s, some developing nations have improved wheat yields faster than Australia, including China, India and South Korea. According to the USDA however, productivity growth has been slower in many advanced economies. This is due to soil degradation, restrictions on pesticides and fertilizers, and other factors.
Scientists and farmers credit Australia's low-subsidy system and its applied research system for setting it apart.
The Grains Research and development Corp is a statutory company established by parliament in 1990 to drive innovation within the industry. The government adds funding to the 1% that farmers give. The committees are made up of farmers, scientists, and agribusiness executives. Kirkegaard said that the research agenda doesn't revolve around farmers looking for quick fixes or scientists working on blue-sky projects.
This model is not replicated by many countries. Canada also has research groups that are funded by levy, but they're less centralised. Kirkegaard says that in Europe, researchers might never have spoken to a farmer. This can lead to studies that are not practical.
According to the OECD, Australia is among the countries with the lowest levels of agricultural subsidies. They are mainly used for biosecurity and research, not payments to farmers.
Liebeck, who lives in a farmhouse surrounded by eucalyptus trees, said that he's not intimidated by the increasingly hostile climate.
He said, "The challenge to grow more crops with less rain is thrilling." "I'm optimistic."
(source: Reuters)