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Rice Constrained

The Philippines Department of Agriculture announced the need to import another 500 KMT of rice. The country is already the second largest importer of rice after China, and this purchase will ensure it is a record year for Philippine imports. For most staple commodities, this is not a large volume, but rice is a relatively thinly traded crop. Only about 10 percent of global rice production is traded, with the Philippines typically taking about 5 percent of the total.  The Philippines averages around 12 MMT of rice production per year with imports comprising an average 17 percent of consumption. In India, the world’s largest exporter of rice, prices for 25 percent broken hit $436.60/MT, the highest level since 2011. Notably, ev...

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From WPI Consulting

Forecasting developments in production agriculture

On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.

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