Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Iran’s government has purchased 6 MMT of local wheat on its way to a total of 11 MMT. The wheat is being bought at a government set price to help control domestic wheat prices and to build wheat safety reserves. According to the latest FAO report, Iran’s wheat production for 2020 will be down slightly to 14 MMT. Normally the government buys as much as 75 percent of the wheat production but due to a low wheat price set by the government the FAO says that farmers may prefer to sell as feed wheat for a higher local price. The government set price for wheat purchase is lower than the market price for feed barley making sales as feed wheat attractive to farmers. Iraq s...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.