Farm machinery makers tightening belts

Two of the largest farm equipment manufacturers – Deere and Co. and CNH Industrial – took a hit on sales and profits during their most recent quarters, but both did better than stock market analysts predicted.

“Tariff uncertainty and deflated commodity prices have made farmers increasingly cautious in spending decisions and more hesitant to accept higher machinery prices,” said research analyst Jonathan Sakraida.

Despite the gloomy demand environment, Deere CEO John May said the company was able to manage its inventory levels to help production match retail demand.

Deere’s net income in the third quarter came in at $1.29 billion ($1.78 billion Cdn), compared with $1.73 billion last year.

The company’s net sales fell about nine per cent to $10.36 billion ($14.29 billion) Cdn from a year ago, more than analysts’ estimates of $10.31 billion.

CNH reported net income of $217 million and compared with $404 last year and sales declined by 14 per cent to $4.7 billion.

Forty wind turbines proposed for Strathroy area

Ventor Inc. is proposing to build 40 wind turbines near Strathroy and said the venture will probably contribute $1 million a year to municipal coffers.

Residents of Brooke-Alvinston have been invited to the Brooke-Alvinston-Inwood Community Complex to have their say about the Strathroy Wind Development project.

have their say on Thursday on the proposed Strathroy Wind Development project.

Premier Doug Ford cancelled 750 projects after winning election, but last August reversed course and said the province wants to more than double its purchase of electricity from renewable energy projects.

But unlike the previous Liberal government, he is giving municipalities a say on proposals.

Venfor Inc., controlled by Peter Budd, wants to build up to 40 turbines, split between the municipality and neighbouring Adelaide Metcalfe and said that would add about 30 megawatts to the grid. He said on peak summer days, Ontario is short of 2,000 to 3,000 megawatts and imports from the United States.

He said it will likely take until 2027 to jump through administrative and planning hoops and then another three years to complete construction.

Ten more pistachio products on recall

 

Ten more products that contain pistachios are on recall because the nuts may be contaminated with salmonella.

The latest in a series of pistachio recalls sold from two Bank Street stores in downtown Ottawa.

The products are Petits Four cookies, Dubai brand desserts, Kafeh-Dubai chocolate bars, strawberry cheesecake and Baklava.

Halva on recall

Shaikh Al Kar brand Plain Halva is under recall after the Canadian Food Inspection Agency detected salmonella food-poisoning bacteria in the products.

The CFIA said there have been no reports of illnesses from people who consumed the halva.

Halva is a traditional Greek dessert made from a thick paste made from flour, butter, oil, saffron, rosewater, milk, turmeric powder, and sugar.

                           

CFIA collects penalties

 

The Canadian Food Inspection Agency levied $878,700 worth of penalties in the first half of the year.

Ontario’s penalties amounted to $121,300 of which 15 totaling $71,300 were for violations of the Health of Animals Act and regulations and 10 penalties totaling $50,000 were for violations of the Safe Foods Canada Act and regulations.

Quebec had by far the most fines – 65 for $402,400.

Quebec firm has CFIA licence suspended

 

The Canadian Food Inspection Agency has suspended the licence held by a numbered company which does business as Ferme Floralpe.

The farm at Papineau, Que., make goat cheese.

Trade talks with Brazil poised to resume

Canada-Brazil trade talks are set to resume this fall, according to officials in Brazil and Canada.

The negotiations also involve South America’s Mercosur bloc so would include Argentina, Bolivia, Brazil, Paraguay and Uruguay.

Canadian officials previously outlined interests in expanding and diversifying its trade partner roster in light of the uncertainty sparked by Ubited States President Donald Trump’s global tariff plan.  

Trade Minister Maninder Sidhu is expected to arrive in Brasilia this week to discuss potential trade agreements, according to trade officials from both nations. 

Similar talks were stalled in 2021 as South American nations opted to focus on local issues versus opportunities for new trade pacts.

Revived trade talks could begin later this fall, according to several published reports from Canadian and Brazilian diplomatic officials. 

Brazil is the world’s largest chicken exporter and already is Canada’s second-largest supplier of chicken after the United States.