Wheat Prices Rise, Despite Bumper Crop According to the 4th Advance Agricultural Production estimates released this week, India’s wheat production in 2017/18 was revised to 99.7 MMT and GOI has procured 35.51 MMT so far. Higher production and procurement rates 5 MMT higher than the initial target led to large stocks of wheat in open warehouses. The movement of wheat from central and state warehouses has also been slow. As of 1 June 2018, wheat stocks were 43.801 MMT and 41.801 MMT on 1 July 2018. 1 August stocks, however, reached 40.858 MMT, according to the Food Corporation of India (FCI). The movement of the wheat under various GOI schemes and also under the Open Market Supply Scheme (OMSS) has been slow. In July 2018,...
From WPI Consulting
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.