India May Raise Vegoil Import Tariffs and Subsidize Soymeal Exports The government of India (GOI) is under a great deal of pressure from farmers to do something to raise domestic commodity prices. In the case of soybeans and rapeseed, those prices have fallen well below the government-set Minimum Support Prices (MSPs). It now appears the Indian government is considering two actions in response. The first is to increase the import duties on crude and refined vegoils by 10 percent to 25 percent and 35 percent, respectively. GOI had previously raised them in August from 7.5 percent to 15 percent for crude vegoil and 15 percent to 25 percent for refined vegoil. However, that was insufficient to boost domestic oilseed prices. The second is to...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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