Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Egypt reports that the revenues from the Suez Canal are down by about 3 percent in 2020 to $5.61 billion. The government feels that 2021 revenues will be about the same level unless there are further COVID-19 related shipping problems to and from Asia. Egypt has also taken the first steps in allowing its main wheat buyer – GASC – to set up its own shipping company for the transport of grains – both in and out of Egypt. The company is to be named Atlantic Pacific Company for Shipping and Trade and is expected to own some vessels. Much of the wheat imported is currently shipped using the government’s National Navigation Company. Also in Egypt, the...
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 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.