They don't have time to log onto different sites," Shaw said. "It will be a cultural change and will take time to achieve." Cheaper and faster transactions plus the removal of much of the administrative drudgery is expected eventually to win converts. Progress has so far been slow with sugar sellers showing little enthusiasm for internet trading which, because of its global transparency, will tend to lower prices. "Eventually it will bring together an Egyptian lemonade bottler buying sugar from an unknown factory in Brazil," Shaw said.

Draught to hit Rabi crop in Orissa
Inadequate rainfall in Orissa this year is now poised to hit the rabi crop with the irrigation canals drying up, according to an official release. The water resources development department had decided to stop water supply in six major irrigation canals in the coastal districts because of inadequate storage in the Hirakud Reservoir spread over Sambalpur and Jharsuguda districts.The canals which would not get any water included the two high level canals, Kendrapara Canal, Pattamundai Canal, Machhagaon Canal and Puri Main Canal along with their branches, minor and sub-minor channels. The release advised farmers not to take up cultivation ofRabi and other summer crops during the current Rabi season depending on canal irrigation.However, water required for Paradip Industrial Area andfor drinking purposes would be supplied through the Taladanda Canal which would also irrigate the Rabi crops grown in areas under its reach, it said.

Swiss Bank sees gold as good reserve
The Swiss National Bank still sees gold as a good tool to diversify its reserves even though the Central bank is gradually selling off half its original holdings of the metal, SNB chairman Mr Hans Meyer said. "We still believe in gold and remain one of the world's biggest gold holders," he said in an interview, but he noted Swiss gold holdings were as large as those of Germany or France - countries 10 times its size.

INTUC supports plantation sector
A major trade union has come out in support of the plantation sector. At a recently held conference of plantation trade unions affiliated to INTUC here, leaders decided to agitate against the ``anti-labour'' and ``anti-industrialist'' policies of both the State and the Centre. Trade union leaders urged the government to put on hold import of plantation commodities into the country. ``There is no justification to import tea, coffee, cadamom, rubber and other rubber products into the country when we are able to export the same after meeting the domestic demand. The governments are indifferent towards an industry employing 40 lakh workers and in which 4.50 lakh small and marginal farmers are involved,'' trade union leader PL Subbaya said. The unions decided to persuade the governments to reduce taxes and provide necessary incentives for export of the commodities till the sector overcomes the current crisis.

World sugar production may fall
World sugar production will fall to 124.5 million tonne raw value in 2000-01, down 7 per cent from the previous year's record, because of Brazil's drought-withered crop, the US Agriculture Department said. In its semi-annual report on sugar markets and trade, the USDA also forecast world sugar end stocks at 30.9 million tonne in 2000-01, down 11 per cent from last year. "The principal reason for this situation is the downturn in Brazilian production and exportable surplus," the USDA said. Brazil's sugar production was forecast to fall more than 23 per cent, or 4.7 million tonne, from last year's record level. The decline was blamed on drought. The fall in global sugar production has trimmed inventories and boosted prices.

"Whether prices will remain firm depends on the strength of import demand in certain countries such as Pakistan, Russia, Egypt, and Indonesia and on the prospects of Brazil's ability to recover from this year's drought-reduced crop," the USDA said.