Russian Invasion Costs BASF and Strengthening Organic Enforcement
**BASF expects to post a net loss for 2022 after booking impairments worth 7.9 billion from the deconsolidation of Russian exploration and production activities after Moscow's invasion of Ukraine.
The German chemicals giant tells www.agrimarketing.com, it expects to book 5.4 billion of the total impairment in the fourth quarter of 2022, swinging to a net loss of 1.38 billion from a 2021 profit of 5.52 billion.
**The USDA National Organic Program previewed the Strengthening Organic Enforcement final rule.
This update to organic regulations strengthens oversight and enforcement of the production, handling, and sale of organic products.
This final rule implements 2018 Farm Bill mandates, responds to industry requests for updates to the USDA organic regulations, and addresses National Organic Standards Board recommendations.
Under Secretary Jenny Lester Moffitt says, protecting and growing the organic sector and the trusted USDA organic seal is a key part of the USDA Food Systems Transformation initiative.
**The 2023 farm bill should expand funding for USDA soil and water conservation programs and allow payments to the so-called early adopters of climate-smart farming practices.
The National Association of State Departments of Agriculture tells www.agriculture.com, the farm bill “must remain unified” by pairing farm support and public nutrition programs in one piece of legislation.
NASDA identified 10 areas within the farm bill for its advocacy efforts.