Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION African grain importers from Russia may find that business is easier as Russia is looking at the possibility of providing trade financing to buyers through EXIM BANK and the Russian export credit agency. While there are no sanctions against shipments of Russian grain, the banking sanctions in place have made export payments much more difficult. Algeria’s latest crop report from the USDA-FAS local office shows wheat production up by 900,000 MT at 3.3 MMT and wheat imports up by 200,000 MT at 8.3 MMT for 2022/23. The higher production and imports should put ending wheat stocks up to 5.7 MMT. Barley production is at 1.2 MMT, up by 250,000 MT over 2021/22...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Key Takeaways: Indonesia will raise its biodiesel mandate from B40 to B50 on 1 July, increasing palm oil–based diesel blending to 50 percent. The policy supports domestic palm oil demand and reduces reliance on imported diesel. Indonesia’s biodiesel program has steadily expanded si...
Developer's Note: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where obs...
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.