Sugar Prices Firm; Export Duty Could Be Removed Sugar prices continue to firm following the imposition of an export duty and stock limits on sugar mills. According to National Commodity and Derivatives Exchange (NCDEX) data, the bottom spot price occurred on 5 February 2018 with prices rising 8.4 percent from $471/MT to $511/MT since then. Prices in the retail market have also increased, and sugar is being sold at $0.66/kg. The upward price movement is good for the sugar sector, which will be able to use the additional money from sales to pay farmers for the sugarcane purchased from them. The stock limits imposed on the sugar mills is in effect only for two months until 31 March 2018. Sugar production may be viable at today’s prices,...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
What You Need to Know Today: Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate incre...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.