Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION BRICS membership increased on 1 January 2024 to include Egypt, Iran, Saudi Arabia, UAE, and Ethiopia in addition to existing members: Brazil, Russia, India, China, and South Africa. Further expansion is expected in 2024/25. Pakistan’s wheat production for 2023/24 is forecast by USDA-FAS to increase to 28 MMT, up from 26.4 MMT. Wheat imports are expected to drop by 600,000 MT to 2 MMT. Overall wheat consumption is up by 800,000 MT to 30.2 MMT. Oman Flour Mills started operations of its new feed mill with a capacity of 20 MT per hour. This new feed mill will greatly reduce the current dependence on imported animal feed supply. Iraq’s Ag Ministry...
What You Need to Know Today: Attacks between the U.S. and Iran intensified overnight and the U.S. Central Command reported that the U.S. naval blockade against Iran will begin at 3:00 PM CDT Tuesday. President Trump said the Strait of Hormuz is open to all shipping traffic, except Iran. In an...
Key Takeaways: Aquaculture is becoming increasingly important in meeting global seafood demand, gaining market share as wild-caught fisheries face production limitations. Superior feed conversion efficiency gives aquaculture a competitive advantage over traditional livestock production, with l...
Mediterranean/Middle East/North Africa/Africa – MEA Region Syria's new Russian logistics hub at Tartous port is expected to be operational by the end of July. It is expected to handle 250,000 MT of cargo per month, including wheat and other grains. Initial shipments are expected to be Rus...
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.