The government of India (GOI) addressed several trade matters as it issued decisions regarding import duties on wheat, pulses and sunflower seeds as well as the use of methyl bromide fumigation at the country's ports. Duty Imposed on Wheat and Pulses Imports The government of India (GOI) has decided to move forward with the duty on wheat and pulses that it had been considering (see Ag Perspectives, 24 March). Wheat and pigeon pea imports will now be subject to a 10 percent duty in order to check falling domestic prices during harvest and also support the country’s farmers.Wheat prices have been stable although somewhat lower than the Minimum Support Price (MSP) for the past few days as arrivals have started. Procurement in wheat-growing s...
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.