Wisdom of Traders Sometimes it takes 50 yeas of experience in an industry to have the wisdom and courage to speak the truth. Derek Chambers, a semi-retired cocoa trader, had good words of advice at this week’s Cocoa Merchants Association of America conference in Miami. He advised delegates to stop wasting money by paying nongovernmental groups for ineffective sustainability and fair-trade certification schemes. Chambers argued that the cocoa industry is “not responsible for low cocoa prices, poverty, child labor and deforestation…and…cocoa farmers are not poor because they grow cocoa, they grow cocoa because they are poor.” Instead, he argues poor governance is to blame and everyone would be better off if t...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.