Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Iraq has devalued its currency by 20 percent, scrapping their old “official” exchange rate. Iraq’s financial situation has become very difficult due to the drop in prices for crude oil and oil products. Iraq does import most of its food needs, including grains, and the devaluation is expected to push prices higher as imports become more costly. The government is the largest employer in the country but recently, due to low oil prices for exports, has had to borrow to pay employee salaries. One can probably surmise that, at least in the short term, the grain business to Iraq will be very difficult. Iraq is reported to be importing the 700,000 MT of feed b...
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
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.