Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Eid-Al-Adha will be celebrated in Muslim countries from 27 June until 1 July. Businesses, banks, and the government will be closed for this period. Morocco will offer subsidies on up to 2.5 MMT of imported milling wheat during from 1 July - 30 September. An import “benchmark” price of about $271.60 has been set by the government and importers will be reimbursed for any cost above that level. Egypt is expected to be the number one importer of wheat again in 2023/24 with imports that could be at 12 MMT. Turkey, Algeria, Morocco, and Nigeria are also in the top 10 list of wheat importers. Egypt’s Suez Canal has seen a drop of 40 percent in...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
Mediterranean/Middle East/North Africa/Africa – MEA Region Bangladesh is reported to have finalized the purchase of 270,000 MT of wheat, including 220,000 MT of U.S. wheat. The U.S. wheat is priced at $322/MT, with an additional 50,000 MT of wheat at $297.90/MT through an international te...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.