To protect its local crop, Morocco has reintroduced a significant tariff on soft wheat imports until the end of 2017. As in the past, tariff levels will be adjusted in accordance with the domestic supply situation. It has also implemented a program to influence certain users' decisions. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt reports that farmers have been paid 4 billion Egyptian pounds ($220 million) for wheat delivered to the government. A total budget of 16 billion Egyptian pounds ($880 million) is allocated for the purchase of almost 4 MMT. According to the government, 1.7 MMT have been bought to date. It also indicated that it intends to expand local wheat storage capacity from 1.6 MMT to 3.1 MMT by the end of 2018...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.