India Importing Record Volume of Soybeans High domestic soybean prices in India coupled with a smaller domestic crop in 2017 is causing processors in that country to import a record volume of soybeans this year. Reports indicate Indian firms have contracted to import up to 100,000 MT since December with the 2017/18 total likely reaching 200,000 MT. The soybeans are said to be primarily sourced from Ethiopia and Benin because those countries have preferential access to that market. India’s most-favored nation (MFN) tariff rate is 30 percent, and it does not allow the importation of GM soybeans. Traders expect soybean imports to continue growing in the future. It is doubtful that the soybeans supposedly sourced from Ethiopia ad Benin...
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 big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.