Macroeconomics COVID-19 Produces Largest Food Cost Increase in 18 Months It has taken a few weeks, but data from China’s National Bureau of Statistics have now appeared in the past week showing food prices rose in May by 2.3 percent. That compares to an annualized increase of 1.9 percent in April and marks the fastest price growth for key foodstuffs since September 2020. It is also only the second time in the past eighteen months that food prices have risen year-on-year in consecutive months. Leading the way in May were the costs of fresh fruit, fresh vegetables, eggs, cooking oils, milk, and beef, which saw upticks of 19 percent, 11.6 percent, 10.6 percent, 3.8 percent, .9 percent, and 1 percent, respectively. Holding the ove...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.