The government of India's (GOI's) decision to impose a 10 percent wheat import tariff is expected to enable the Food Corporation of India (FCI) to offload its low quality wheat on the domestic market at a price higher than that of the world market. Wheat Import Tariff It was thought that the government of India (GOI) would not introduce a wheat import tariff, which would increase the price of value-added products, but the inter-ministerial panel recommended that it do so at the rate of 10 percent. Thus, GOI issued a notification on 7 August 2015 that such a duty on all wheat imports was effective immediately until 16 March 2015. It is expected that this will now enable the Food Corporation of India (FCI) to offload its low quality wheat o...
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
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.