The price of wheat went limit-up yet again today, which is problematic for poor countries importing the food stuff. It is particularly painful for Egypt since it is the largest wheat importer in the world, and the poorest at that level of importation. The cost of wheat is now 35 percent greater today than it was a year ago. At 13 MMT, Egypt imports 62 percent of its annual wheat requirements. Indonesia is second largest, importing 11 MMT. Indonesia is about 9 percent richer than Egypt on a per capita basis, but unlike Egypt, it is 100 percent dependent on wheat imports. ...
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 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
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.