Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Egypt’s bread price needs to increase according to President Sisi since the price has been fixed since 1977. The Ministry of Supply is going to analyse the situation and report to the cabinet. In years past, even the rumour of bread price increases led to serious protests and some riots in Egypt. The price of bread is of great importance to all Egyptians due to the very high per capita consumption of bread. According to President Sisi, you can get 20 Egyptian loaves for the same price as one cigarette due to the heavy government subsidy on bread/flour. Iran reports that its new 100,000 MT grain silo, discharge facility in Chabahar port will be fully operational and will...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.