U.S. dog and cat food exports have risen 3500 percent over the past five years, one of the fastest growing categories of trade. It is on a path to rise over 200 percent in 2023. There are a few different reasons for this explosive growth. The first is that the U.S. has the highest per capita rate of pet ownership. Couple that with being one of the highest income countries and people are willing to spend more on pets. Around 36.8 percent of their expenditures on dogs is for food and that number rises to 47.8 percent for cats. At the same time, pet ownership is rising in other countries where a domestic pet food industry has been slower to develop. One can also credit U.S. pet food manufacturers. Using knowledge gleaned from human food scien...
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...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
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...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.