India's domestic oil industry had asked GOI to raise both the duty on imported oil along with the differential between the crude and refined oils duties to 15 percent. However, the government decided to take a different approach. Vegoil Import Duty Slashed; Imports Rising In September 2016, the government of India (GOI) reduced the import duties on wheat and vegetable oil. Although the country is going to produce a record kharif oilseed crop of 23.363 MMT, an approximate 40.8 percent increase against 16.5 MMT last year, oil demand is likely to be higher during the festival season. In addition, the new stocks from domestic sources may not be available in the market any time soon. However, the lower duty will help keep prices down. GOI had...
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...
What You Need to Know Today: Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate incre...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.