Government Increases Assured Wheat Price The Indian government (GOI) last week increased the minimum support price (MSP) for wheat by $11.81/MT, an increase of 5.05 percent. The new MSP will be 13,500 rupees ($245.45) per MT for wheat from the 2013/14 crop. Some say the price increase is a political compulsion and many are opposed to it. The state government, for example, wanted the MSP at 18,000 rupees ($327.27) per MT, which includes all input costs such as diesel, fertilizer, land rental and hiked labor costs. The GOI also allowed an additional 2.5 MMT of wheat from warehouses to be exported in an effort to clear space for the new crop. There are still three months before new crop arrivals begin. According to government statement, the...
Key Takeaways: Brazil confirmed a Newcastle disease outbreak at a commercial turkey farm in Santa Catarina on 18 October, raising concerns about potential disruptions to poultry exports despite the outbreak being confined to a single facility thus far. Mexico and Malaysia have imposed nationwi...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
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