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business
Business / 1 day ago
China dominates global apple market
The world’s appetite for apples continues to grow, and at the centre of this fruity boom is China. According to a recent graphic showing the world’s largest apple producers, China alone is estimated to cultivate around 48 million metric tonnes of apples in 2024, by far the largest single-country output. That figure is backed by the United States Department of Agriculture Foreign Agricultural Service (USDA FAS), which, in its “China: Fresh Deciduous Fruit Annual” report, estimates China’s apple production at approximately 48 MMT for the marketing year 2024/25.
Business / 2 days ago
Why one tonne of cocoa can be worth more than a tonne of steel
In today’s global economy, one tonne of cocoa and one tonne of steel capture two very different kinds of value. The price of a tonne of cocoa is shown at around US$6,100, whereas a tonne of steel is marked at US$432.96. Cocoa, the raw ingredient behind chocolate, carries a premium because of its narrow supply base and sensitive growing conditions. Recent data from International Cocoa Organization (ICCO) show cocoa beans trading at roughly US$5,900 per tonne.
Business / 6 days ago
Global wheat consumption hits record levels as demand surges across Asia and Europe
Global wheat consumption is climbing to record highs, according to the latest data from the U.S. Department of Agriculture’s Foreign Agricultural Service (FAS). The 2024/25 season is expected to see both production and demand increase, led by strong harvests in Asia and Europe. Wheat, one of the world’s most essential grains, remains a critical part of diets across continents, from bread and noodles to cereals and animal feed, and current figures show no sign of slowing demand. China stands as the world’s largest wheat consumer, using about 148 million metric tonnes annually.
Business / 1 week ago
Hermès beats Ferrari in luxury growth race
Between haute couture and high performance, Hermès and Ferrari have each posted impressive full-year results for 2024. Hermès reported consolidated revenue of €15.2 billion for 2024, a 15 % increase at constant exchange rates and 13 % at current rates. The French house also recorded a recurring operating income of €6.2 billion, representing 40.5 % of sales, and a net profit of €4.6 billion (about 30.3 % of sales).
Business / 1 week ago
The world’s top 10 wheat producers in 2025
According to the Foreign Agricultural Service of the U.S. Department of Agriculture (USDA), global wheat production has reached a remarkable milestone this season. The European Union (EU) and China are tied at the top, each producing around 140 million metric tonnes of wheat, solidifying their status as the world’s wheat powerhouses.
Business / 2 weeks ago
Where does the world’s milk come from?
India continues to hold its position as the world’s largest milk producer in 2025, according to new data from the Foreign Agricultural Service (FAS) of the U.S. Department of Agriculture (USDA). The country now produces an impressive 212 million metric tons (MMT) of milk annually, far surpassing the European Union’s 150 MMT and the United States’ 103 MMT.
Business / 2 weeks ago
The future of the global economy: How emerging nations are working to redefine power by 2075
By 2075, the global balance of economic power could look entirely different, with emerging nations from Asia, Africa, and Latin America taking centre stage. According to Goldman Sachs’ long-term projections, the world’s largest economies will no longer be dominated by Western powers. Instead, countries like China, India, Indonesia, and Nigeria are expected to lead a multipolar global order defined by demographic strength, industrial expansion, and technological adoption.
