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Spain throws away 400,000 tons of lemons: ‘Production has got out of hand’

According to the latest estimates provided by the Spanish agricultural union COAG, in the 2023-2024 season, around 400,000 tons of lemons cannot be sold and will go to waste — about 27% of the planned production. Losses from this massive waste are estimated at €120 million ($129 million). Spanish farmers have blamed the problem on various factors: lemons entering the European Union from Turkey, Egypt, Argentina, and South Africa; investment funds altering the market; supermarkets that only want aesthetically perfect fruit; the rise in pests; climatic adversities… However, some in the sector openly recognize that the main reason for the disaster is the disproportionate rise in the number of hectares cultivating lemons on Spain’s Mediterranean coast.

One of these critics is the World Citrus Organization (WCO), which cites the excessive rise of lemon crops in Spain as the main cause for the disaster. The WCO does not understand why the entry of foreign lemons is criticized when Spanish lemons are found across Europe. “Spain is the leader in the market, it is the one that controls the situation, it is always easy to blame someone else, but we must accept that we are in markets in which there must be a minimum level of competition,” WCO Secretary General Philippe Binard tells EL PAÍS by phone. “Let’s look at what happened with the tractor demonstrations in Europe, our headquarters are in Brussels, the Belgians complained about the Dutch, the French about the Spanish, the Spanish about the Moroccans….”

The Interprofessional Association of Lemon and Grapefruit (Ailimpo) — which represents the producers, cooperatives, exporters and the processing industry of the lemon sector in Spain — has not only distanced itself from the criticism of foreign lemons, it has also admitted that lemon cultivation needs to be reduced in Spain to rebalance supply and demand. Ailimpo proposes a different path to what was seen in some of the tractor protests: apart from tax reductions, improvements in agricultural insurance and promoting increased consumption, it is also committed to a more environmentally friendly model — it supports regenerative agriculture or the management of lemon farms as forests as a means of generating carbon and biodiversity credits.

For José Antonio García, director of Ailimpo, there is no doubt where the problem lies: “Production has got out of hand,” he says. “The data speak very clearly. The cultivation area has gone from 36,000 hectares eight years ago to nearly 53,000 hectares today.” He explains that lemon farmers decided to plant more trees due to the “very striking returns” on the crop. This move prompted other investors to get involved. “In the end, it is an exercise in simple mathematics. If the market is able to absorb 1.1 million tons of lemons, and the estimated production for this season is 1.5 million, there are 400,000 tons that are going to stay in the fields.”

agricultores Málaga Limón
Farmers throw lemons at a protest in Malaga last March.Daniel Pérez (EFE)

Pedro Gomáriz, head of citrus at COAG, acknowledges the excess production in the country, but says it is one of many factors. “The exaggerated amount of lemon from third countries that is entering the European Union is one of the big factors, it is unfair competition, because they are also entering with [phytosanitary] products that are not allowed here, and on top of that they are entering with pests that are not hitting us,” says the farmer, whose arguments have so far not been proven. “They are coming from Turkey, South Africa, Egypt, Argentina. They are flooding the European market with lemons that compete with ours, but without having to meet the same standards as us, treated with products that we do not have here, with much cheaper labor and often subsidized by the state,” insists Gomáriz.

While these complaints are common, the data on lemon consumption in the EU analyzed by Ailimpo, between October 2023 and March 2024, shows a quite different situation. In those six months, the total demand for these citrus fruits in the EU (excluding domestic consumption in Italy and Spain) was 403,000 tons, of which 302,000 came from Spanish fields, while the rest — 87,000 tons — came from Turkey. In other words, three out of every four lemons consumed in EU countries in this period were grown in Spain. According to Ailimpo, these figures are also similar to what was recorded in previous years, meaning they are unlikely to have played a significant role in the disaster of the current lemon season, which runs from September to June.

Gomáriz also blames the disaster on supermarkets’ “oligopolistic” practices, decisions by investment groups, and weather events, while downplaying the importance of the spike in lemon cultivation. “The life of a lemon tree is like a Gauss bell. Its harvest increases, at 15 to 20 years it reaches its maximum and from 20 onwards it begins to decrease. So, of course, there is a lot of new lemon destined for the replacement of plantations,” he says.

“This is the elephant in the room that no one wants to see,” says García, who notes that in the last eight years, seven million lemon tree seedlings have been sold in nurseries in the country. “These are really very typical dynamics of the agricultural sector. We have seen it in other products such as the persimmon, we are seeing it with the pistachio, with the almond tree, they are cycles where the farmer sees profitability in the crop and there is an explosion of cultivation.” García acknowledges that other factors are at play, but believes this is the biggest reason for the current disaster. “It is true that there are investment funds involved in the lemon sector, but they have not invested a single euro in new plantations,” he says.

For Ailimpo, what’s most important right now is to address the losses of this disastrous season. But the organization also believes that green measures are key to ensuring long-term economic profitability. “We have closely followed the development of regenerative agriculture in citrus in California, and we believe that the future really lies there,” says García. He explains that his organization is trying to design a system of green practices to improve CO₂ absorption, which will allow the sector to generate carbon credits. “It seems like science fiction, but it is already working in the United Kingdom, Australia, and New Zealand, where agricultural activity is also generating biodiversity credits. Because when we think about biodiversity, we think about lizards, birds, bees, but we always forget what biodiversity there is in the soil.”

Culture

Assessing Property Size: What Square Footage Can You Get With The Average UK House Price In Your Area?

Assessing Property Size In The UK

In the United Kingdom, there is a prevailing tendency to gauge the size of residences based on the number of bedrooms rather than square footage. In fact, research indicates that three out of five individuals are unaware of the square footage of their property.

However, a comprehensive analysis conducted by Savills reveals significant variations in property sizes throughout the country. For instance, with the average property price standing at £340,837, this amount would typically afford a studio flat spanning 551 square feet in London, according to the prominent estate agency.

Conversely, in the North East region, the same sum would secure a spacious five-bedroom house measuring 1,955 square feet, nearly four times the size of a comparable property in London.

Best value: Heading to the North East of England is where buyers will get the most from their money

In Scotland, the median house price equates to a sizable investment capable of procuring a generous four-bedroom residence spanning 1,743 square feet. Conversely, in Wales, Yorkshire & The Humber, and the North West, this sum affords a slightly smaller four-bedroom dwelling of approximately 1,500 square feet, while in the East and West Midlands, it accommodates a 1,300 square foot home. In stark contrast, within the South West, £340,837 secures a modest 1,000 square foot property, and in the East, an even more confined 928 square feet.

London presents the most challenging market, where this budget offers the least purchasing power. Following closely, the South East allows for 825 square feet of space or a medium-sized two-bedroom dwelling. Lucian Cook, head of residential research at Savills, emphasizes the profound disparity in purchasing potential across Britain, ranging from compact studio flats in London to spacious four or five-bedroom residences in parts of North East England.

While square footage serves as a critical metric, with a significant portion of Britons unfamiliar with their property’s dimensions, the number of bedrooms remains a traditional indicator of size. Personal preferences, such as a preference for larger kitchens, may influence property selection. For those prioritizing ample space, Easington, County Durham, offers a substantial 2,858 square foot, five-bedroom home, while Rhondda, Wales, and Na h-Eileanan an Iar, Scotland, provide 2,625 and 2,551 square feet, respectively. Conversely, in St Albans, Hertfordshire, £340,837 secures a mere 547 square feet, equivalent to a one-bedroom flat.

The disparity continues in central London, where purchasing power diminishes considerably. In Kensington, the budget accommodates a mere 220 square feet, contrasting with the slightly more spacious 236 square feet in Westminster. Conversely, in Dagenham, the same investment translates to 770 square feet. Three properties currently listed on Rightmove exemplify the diversity within this price range across the UK market.

South of the river: This semi-detached house is located near to three different train stations

South of the river: This semi-detached house is located near to three different train stations

2. Lewisham: One-bed house, £345,000

This one-bedroom property in Lewisham, South London, is on the market for £345,000.

The semi-detached house is set over two floors, and has a private patio.

The property is located near to bus links and amenities, as well as Catford train station.

Edinburgh fringe: This three-bed property is located on the edge of the city, near to the town of Musselburgh

Edinburgh fringe: This three-bed property is located on the edge of the city, near to the town of Musselburgh

3. Edinburgh: Three-bed house, £350,000

This three-bedroom detached house in Edinburgh could be yours for £350,000.

The house, which has a two-car driveway, boasts a large kitchen diner, and is within easy reach of Newcriaghall train station.


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Culture

Top 10 Florida Cities Dominate The Business Startup Landscape In The U.S.

Top 10 Florida Cities And Business Startup Landscape In The U.S.

The Voice Of EU | Florida emerges as a hub for entrepreneurial endeavors, with its vibrant business landscape and conducive environment for startups. Renowned for its low corporate tax rates and a high concentration of investors, the Sunshine State beckons aspiring entrepreneurs seeking fertile grounds to launch and grow their businesses.

In a recent report by WalletHub, Florida cities dominate the list of the top 10 best destinations for business startups, showcasing their resilience and economic vitality amidst challenging times.

From Orlando’s thriving market to Miami’s dynamic ecosystem, each city offers unique advantages and opportunities for entrepreneurial success. Let’s delve into the chronologically listed cities that exemplify Florida’s prominence in the business startup arena.

1. Orlando Leads the Way: Orlando emerges as the most attractive market in the U.S. for business startups, with a remarkable surge in small business establishments. WalletHub’s latest report highlights Orlando’s robust ecosystem, fostering the survival and growth of startups, buoyed by a high concentration of investors per capita.

2. Tampa Takes Second Place: Securing the second spot among large cities for business startups, Tampa boasts a favorable business environment attributed to its low corporate tax rates. The city’s ample investor presence further fortifies startups, providing essential resources for navigating the initial years of business operations.

3. Charlotte’s Diverse Industries: Claiming the third position, Charlotte stands out for its diverse industrial landscape and exceptionally low corporate taxes, enticing companies to reinvest capital. This conducive environment propels entrepreneurial endeavors, contributing to sustained economic growth.

4. Jacksonville’s Rising Profile: Jacksonville emerges as a promising destination for startups, bolstered by its favorable business climate. The city’s strategic positioning fosters entrepreneurial ventures, attracting aspiring business owners seeking growth opportunities.

5. Miami’s Entrepreneurial Hub: Miami solidifies its position as a thriving entrepreneurial hub, attracting businesses with its dynamic ecosystem and strategic location. The city’s vibrant startup culture and supportive infrastructure make it an appealing destination for ventures of all sizes.

6. Atlanta’s Economic Momentum: Atlanta’s ascent in the business startup landscape underscores its economic momentum and favorable business conditions. The city’s strategic advantages and conducive policies provide a fertile ground for entrepreneurial ventures to flourish.

7. Fort Worth’s Business-Friendly Environment: Fort Worth emerges as a prime destination for startups, offering a business-friendly environment characterized by low corporate taxes. The city’s supportive ecosystem and strategic initiatives facilitate the growth and success of new ventures.

8. Austin’s Innovation Hub: Austin cements its status as an innovation hub, attracting startups with its vibrant entrepreneurial community and progressive policies. The city’s robust infrastructure and access to capital foster a conducive environment for business growth and innovation.

9. Durham’s Emerging Entrepreneurship Scene: Durham’s burgeoning entrepreneurship scene positions it as a promising destination for startups, fueled by its supportive ecosystem and strategic initiatives. The city’s collaborative culture and access to resources contribute to the success of new ventures.

10. St. Petersburg’s Thriving Business Community: St. Petersburg rounds off the top 10 with its thriving business community and supportive ecosystem for startups. The city’s strategic advantages and favorable business climate make it an attractive destination for entrepreneurial endeavors.

Despite unprecedented challenges posed by the COVID-19 pandemic, the Great Resignation, and high inflation, these top Florida cities remain resilient and well-equipped to overcome obstacles, offering promising opportunities for business owners and entrepreneurs alike.


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Culture

European Startup Ecosystems Awash With Gulf Investment – Here Are Some Of The Top Investors

European Startup Ecosystem Getting Flooded With Gulf Investments

The Voice Of EU | In recent years, European entrepreneurs seeking capital infusion have widened their horizons beyond the traditional American investors, increasingly turning their gaze towards the lucrative investment landscape of the Gulf region. With substantial capital reservoirs nestled within sovereign wealth funds and corporate venture capital entities, Gulf nations have emerged as compelling investors for European startups and scaleups.

According to comprehensive data from Dealroom, the influx of investment from Gulf countries into European startups soared to a staggering $3 billion in 2023, marking a remarkable 5x surge from the $627 million recorded in 2018.

This substantial injection of capital, accounting for approximately 5% of the total funding raised in the region, underscores the growing prominence of Gulf investors in European markets.

Particularly noteworthy is the significant support extended to growth-stage companies, with over two-thirds of Gulf investments in 2023 being directed towards funding rounds exceeding $100 million. This influx of capital provides a welcome boost to European companies grappling with the challenge of securing well-capitalized investors locally.

Delving deeper into the landscape, Sifted has identified the most active Gulf investors in European startups over the past two years.

Leading the pack is Aramco Ventures, headquartered in Dhahran, Saudi Arabia. Bolstered by a substantial commitment, Aramco Ventures boasts a $1.5 billion sustainability fund, alongside an additional $4 billion allocated to its venture capital arm, positioning it as a formidable player with a total investment capacity of $7 billion by 2027. With a notable presence in 17 funding rounds, Aramco Ventures has strategically invested in ventures such as Carbon Clean Solutions and ANYbotics, aligning with its focus on businesses that offer strategic value.

Following closely is Mubadala Capital, headquartered in Abu Dhabi, UAE, with an impressive tally of 13 investments in European startups over the past two years. Backed by the sovereign wealth fund Mubadala Investment Company, Mubadala Capital’s diverse investment portfolio spans private equity, venture capital, and alternative solutions. Notable investments include Klarna, TIER, and Juni, reflecting its global investment strategy across various sectors.

Ventura Capital, based in Dubai, UAE, secured its position as a key player with nine investments in European startups. With a presence in Dubai, London, and Tokyo, Ventura Capital boasts an international network of limited partners and a sector-agnostic investment approach, contributing to its noteworthy investments in companies such as Coursera and Spotify.

Qatar Investment Authority, headquartered in Doha, Qatar, has made significant inroads into the European startup ecosystem with six notable investments. As the sovereign wealth fund of Qatar, QIA’s diversified portfolio spans private and public equity, infrastructure, and real estate, with strategic investments in tech startups across healthcare, consumer, and industrial sectors.

MetaVision Dubai, a newcomer to the scene, has swiftly garnered attention with six investments in European startups. Focusing on seed to Series A startups in the metaverse and Web3 space, MetaVision raised an undisclosed fund in 2022, affirming its commitment to emerging technologies and innovative ventures.

Investcorp, headquartered in Manama, Bahrain, has solidified its presence with six investments in European startups. With a focus on mid-sized B2B businesses, Investcorp’s diverse investment strategies encompass private equity, real estate, infrastructure, and credit management, contributing to its notable investments in companies such as Terra Quantum and TruKKer.

Chimera Capital, based in Abu Dhabi, UAE, rounds off the list with four strategic investments in European startups. As part of a prominent business conglomerate, Chimera Capital leverages its global reach and sector-agnostic approach to drive investments in ventures such as CMR Surgical and Neat Burger.

In conclusion, the burgeoning influx of capital from Gulf investors into European startups underscores the region’s growing appeal as a vibrant hub for innovation and entrepreneurship. With key players such as Aramco Ventures, Mubadala Capital, and Ventura Capital leading the charge, European startups are poised to benefit from the strategic investments and partnerships forged with Gulf investors, propelling them towards sustained growth and success in the global market landscape.


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