India claims to need a food security reserve for hungry citizens, but it exports five times more food to the U.S. than it imports from America. Stocktaking in India U.S. Trade Representative Michael Froman was in India for the U.S.-India Trade Policy Forum, but no one is expecting much success in trying to better open the Indian market. Indeed, the U.S. business advocacy group Alliance for Fair Trade with India characterized the risk of the bilateral meeting as being mere stocktaking.U.S. agricultural exports to India have doubled over the past five years, although that is largely due to one product category, tree nuts. Bulk commodities have not budged and are unlikely to, given the recent U.S. acquiescence to New Delhi's stockpiling of "...
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.
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...