FCI Wheat Exports via Traders As of 1 February 2013, wheat stocks in India's central pool totaled 30.809 MMT (including 0.146 MMT in transit), far exceeding the country's buffer and strategic requirement of 7 MMT. Even with exports made via public sector undertakings (PSUs), there still would not be enough storage space for the new crop. As a result, the government of India (GOI) finally has relented to traders' demands and needs. The new policy offers 5 MMT of wheat for export from Food Corporation of India (FCI) warehouses to private traders. There is a catch, however. The floor price is 14,800 rupees/MT, approximately $272/MT. With the added costs of freight and loading at port, etc., the FOB value would be $318/MT. The last few bids...
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...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
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...
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.