Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Ministry of Supply expects to receive 3.5 MMT of local wheat during the 2024 harvest that begins in April. In 2023, about 4 MMT was received by the government. Egypt has increased the purchase price of local wheat by about 33 percent with the local government purchase price now said to be higher than the imported price. Egypt imported 11 MMT of wheat in 2023, up from 9.6 MMT in 2022. Egypt officials said that the country intends to increase both wheat and maize production so that 53 percent of wheat consumption is from local crop along with 56 percent of maize from local production. The target is to accomplish this in 2025/26. Egypt will see...
What You Need to Know Today: Last week’s Trump-Xi meetings included China agreeing to roll back $60 billion in tariffs on a huge swath of U.S. ag products, just notably not soybeans. The exclusion of soybeans from the tariff-reduction list means China’s state-run importers COFCO an...
Key Takeaways: The U.S.-China agreement lowers tariffs on several U.S. agricultural products, but the lack of additional soybean commitments or greater certainty surrounding China’s existing 25 MMT purchase pledge made the deal a slight disappointment. Lower tariffs on U.S. corn are unli...
Wheat Argentina Wheat crop conditions remain broadly favorable despite a week marked by frost and localized hailstorms. Currently, 94.6 percent of the crop is rated Normal to Excellent. The most severe storms were reported in central-northern Córdoba and central-eastern Entre Ríos...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.