India Doubles Benchmark Vegoil Import Prices The Indian government today raised the minimum taxable price for vegoil imports as expected. The minimum import for crude palm oil on which import duties will be collected was raised from $447/MT to $802/MT. The minimum price for soyoil was increased from $580/MT to $1,190/MT. Importers of the two oils will now be forced to pay duties of no less than 2.5 percent of those minimum values.The Indian government previously allowed duty-free imports of crude vegoils so there was no need for the government to establish minimum import prices. However, the government recently decided to impose the 2.5 percent tariff on imports to protect domestic oilseed producers. For example, India's peanut productio...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.