Finances Continue to Dominate Talk at World Ag Forum

John Davis

riskmgtgroup1The issue of finances and credit markets remains the main topic of discussion during this first day of the World Agricultural Forum going on in St. Louis, Mo.

The most current session features several prominent bankers, including: Shuillin Wang, China Investment Corp.; Joseph Quinlan, Chief Market Strategist for Bank of America; James Bond, CEO, Multilateral Investment Guarantee Agency at The World Bank; Jonathan Campaigne, CEO of PRIDEAFRICA in Kenya; and Esther Muthoni Muiruri, the General Manager Marketing-Agri Business, Equity Bank, Ltd.

Quinlan warned that with the current global financial crisis, there might be a tendency for some banks, especially those in North America and Europe, to keep more of their capital at home.

“As the banks rebuild their balance sheets, there’s going be a home bias.”

As bad as that might sound for some of the developing countries, which rely on foreign investment to move their ag programs forward, they might look more to their own homegrown finances to get the local economies moving. That growth in local economies, in turn, will fuel the overall growth in the world’s economy.

Quinlan says the political instability that plagues many developing countries will make banks in the U.S. wait for local banks, the World Bank and International Monetary Fund (IMF) take the lead at financing those operations in those areas.

He says that a forum such as this one only confirms in his mind the importance of agricultural commodities and the investment opportunities they offer.

Listen to my conversation with Joseph here: Quinlan1.mp3

Flickr Photo Album for World Ag Forum

AgWired coverage of the 2009 World Agricultural Forum World Congress is sponsored by:
Novus.

Novus International

The Give and Take of World Ag Forum

John Davis

waf3One of the great things about the sessions like the ones at World Agricultural Forum is the way the audience is able to interact with the panelists and experts who are on the main stage.

During a session this morning, the RT Hon. James B. Bolger, former Prime Minister of New Zealand and the current Chairman of the World Agricultural Forum; Carl Hausmann, President and CEO of Bunge North America; J.B. Penn, Chief Economist for John Deere; David Morgan, President of Syngenta Seeds; Michael Bennett, CEO, Terra Industries; and Prof. Nuhu Hatibu, CEO of the Kilimo Trust, East Africa, fielded questions from the audience… ranging from making organics profitable and worthwhile for developing countries to produce… to employing and lifting up those at the bottom half of the world’s economic ladder.

Some of the answers I’ve already covered in previous postings, but I thought you would be interested in hearing how the participants interacted during the session: giventake1.mp3

Flickr Photo Album for World Ag Forum

AgWired coverage of the 2009 World Agricultural Forum World Congress is sponsored by:
Novus.

Audio, Novus International

Dr. Pearse Lyons Opening Remarks

Chuck Zimmerman

Alltech Symposium Opening Session Dr. Pearse LyonsThe opening general session at the Alltech Symposium concluded with remarks from Dr. Pearse Lyons, CEO/President and founder.

Dr. Lyons remarks dealt with the subject of the financial crisis we’re in and how it ties in to the whole principle of sustainability. To start with he says a crisis calls for character and that it’s not a time for despair. He says the pillars of their company are: Education, Innovation, Traceability, Brand and Cause. He discussed the fact that the company has supported education and innovation and then demonstrated how that has driven their sales. Some of the challenges he sees ahead include antibiotics, the environment and quality.

We also got a preview announcement that tommorow Alltech will launch of the Alltech-Muhammad Ali Center Education and Humanitarian Fund. It’s their new cause which is one of the pillars on which they build the company.

You can listen to Dr. Lyons’s remarks here: alltech-symposium-session-1-lyons.mp3

You can also download his remarks here: Dr. Pearse Lyons Remarks (mp3)

Alltech Symposium Photo Album

Alltech, Audio

Alltech Medal of Excellence Presented To Dr. David Byrne

Chuck Zimmerman

Alltech Symposium Opening Session Dr. Karl DawsonDuring this morning’s opening session at the Alltech Symposium former EU Commissioner, Dr. David Byrne, was presented the Alltech Medal of Excellence. Normally it is presented to a scientist but this year the company decided to make the presentation to someone who has demonstrated serious leadership in the agriculture industry.

Dr. Byrne, shown here (center) with Alltech’s Dr. Karl Dawson (left) and Alltech CEO/President, Dr. Pearse Lyons (right). After his award, Dr. Byrne then made remarks. He spoke about the mad cow problem in the EU which was during his term as a Commissioner. He says food safety became political and people lost jobs and elections. He says they had to put a plan in place in the EU that was science based, had mandatory recalls and a rapid alert system. He says that a traceability system is absolutely necessary and hopes that U. S. Ag Sec. Vilsack’s plan is accomplished on NAIS. Byrne says they learned that someone needs to be in charge, there needs to be a plan and that it is working. Byrne says the question now is how to make animals and food sustainable.

You can listen to Dr. Byrne’s remarks here: alltech-symposium-session-1-byrne.mp3

You can also download his remarks here: Dr. David Byrne Remarks (mp3)

Alltech Symposium Photo Album

Alltech, Audio

Dr. Karl Dawson Opens Alltech Conference

Chuck Zimmerman

Alltech Symposium Opening Session Dr. Karl DawsonThe Alltech Symposium got started with an opening general session this morning. If you didn’t follow along live then don’t despair. I’ll be posting our presenters starting with Alltech’s Dr. Karl Dawson here.

He started out with a definition of sustainability, “Economic, social and management practices that allow a system to meet current needs without compromising the ability of future generations to meet their own needs.” He says that there are many components of ag sustainability ncluding being economically viable with inputs that are renewable and that it must integrate natural biological processes and have no environmental impact. He also made a point that a sustainable future will change culture, especially if mandated.

You can listen to Dr. Dawson’s remarks here: alltech-symposium-session-1-dawson.mp3

You can also download his remarks here: Dr. Karl Dawson Remarks (mp3)

Alltech Symposium Photo Album

Alltech, Animal Health, Audio

World Ag Forum Pics on Flickr

John Davis

worldagforum3Just a quick update for you, I’ve got some of the pictures from this year’s World Agricultural Forum posted over on Flickr (well, more accurately, Cindy got them posted… I’m still battling the system).

We’ll have more as the events progress, but to start with, you can see about 40 pics from last night’s welcoming reception and behind-the-scenes tour at the St. Louis Zoo, sponsored by our friends at Novus International.

World Ag Forum photo set.

Novus International

You Can Park Unsold Cars; Can’t Park Hunger

John Davis

bolger2smallOne of the speakers at the opening session of the World Agricultural Forum was the former Prime Minister of New Zealand and current Chairman of the World Ag Forum, the RT Hon. James B. Bolger.

He told the group that while you can park unsold cars, you can’t park hunger… drawing parallels to the bailout of the US auto industry but a lack of similar action to bail out some of the world’s poorest people.

Just a few minutes ago, I caught up with Mr. Bolger as he stepped off the stage from a session that included representatives from some of the world’s biggest agri-businesses talking about how to solve the current global financial crisis. He says the most important thing we can do is lift up the 3 billion people who are at the bottom of the economic ladder.

“Fundamentally, if we are going to have a world economy moving smoothly, we need to have the 3 billion on the bottom having the income to buy the goods of the others.” Mr. Bolger sees those 3 billion as potential customers who could make a tremendous difference in the world’s economy as a whole.

Several of the panelists pointed out that while banks and companies would like to invest in these developing countries, there needs to be a stable political environment. Mr. Bolger sees it as a “chicken-and-egg” quandry as to which one is solved first.

“Poor countries will be unstable. We’ve got to start looking at how we lift them up out of absolute poverty to have more stable societies. It’s naive to say we can’t do anything until they all settle down and behave.”

He says a venue, such as the World Agricultural Forum, is a tremendous place where people can get together and hear other viewpoints and learn from others backgrounds.

Listen to my entire conversation with Mr. Bolger here: Bolger1.mp3

World Ag Forum photo set

AgWired coverage of the 2009 World Agricultural Forum World Congress is sponsored by:
Novus.

Audio, Novus International

Alltech Symposium Opening Session

Chuck Zimmerman

The opening session of the Alltech Symposium is about to begin has just concluded. Our theme is “The Sustainability Principle.” I’ll be posting here and on my AgWired Live Twitter account too. You can now follow back through the session via this archived live chat.

Alltech

Zimfo Bytes

Melissa Sandfort

    Zimfo Bytes

  • The Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP) announced the results of the Wisconsin Milk Marketing Board 2009 Board of Directors election. Click here for the list of elected members.
  • Archer Daniels Midland Company Chairman and CEO Patricia Woertz announced ADM Cares, a social investment program that targets up to one percent of pretax earnings to initiatives that advance societal improvements in areas that are related to the Company’s business.
  • Bovine Veterinarian magazine debuts its new Web site, www.BovineVetOnline.com.
  • The soybean checkoff will team up with the U.S. Department of Energy’s (USDOE) Clean Cities program to promote soy biodiesel and soy-based bioproducts by distributing a total of $120,000 in funds among local Clean Cities chapters to promote soy biodiesel and soy-based bioproducts in urban and suburban areas.
    Zimfo Bytes

    World Ag Forum: Meeting the Financial Challenges

    John Davis

    waf2With financial markets still stinging after the recent meltdown, it’s no wonder that the financial challenges facing agriculture is part of the first session at the World Agricultural Forum going on in St. Louis, Mo.

    The RT Hon. James B. Bolger, former Prime Minister of New Zealand and Chairman of the World Agricultural Forum, pointed out to the group that the world needs to its food policies. He says we need to get out of the idea that the way out of the current financial crisis is not to get the top 1 percent of income earners to spend so much more but to get the portion of the world’s population earning the least amount… 3 billion people in his estimation… to be able to buy more. He says that will raise all fortunes for everyone.

    Bolger offered that we can feed the world, and he put it out to the panelists the question of how we do it. Many of the panelists seem to agree that the real need is for political stability in these poorer areas. Once stability is achieved, then investment, technology and the lifting of millions out of poverty will follow.

    I’m going to catch up with some of the panelists individually as we go on, but I wanted to give you an idea what is being discussed here at World Agricultural Forum.

    World Ag Forum Photo Album

    AgWired coverage of the 2009 World Agricultural Forum World Congress is sponsored by:
    Novus.

    Novus International