The global production of oranges is nearly five times greater than the output of lemons and limes. Their distribution is different as well. Over a third of oranges go to processing, versus a quarter of lemons and limes. And less than 10 percent of oranges are moved into the export market, versus 25 percent of lemons and limes. The world output of oranges is up slightly in 2023/24 but is still down 12.6 percent from the peak in 2018/19. The U.S. saw peak orange production of 12.5 MMT in 1997/98 and has been on a long slow descent ever since. In 1970, the U.S. produced 44.5 percent of the world’s oranges. Now it only contributes 5.2 percent to the market. U.S. lemon and lime production has been relatively stable, but world...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
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.