Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s wheat imports for 2023/24 are expected to decrease and wheat stocks could drop to the lowest level seen in 20 years. Severe weakness in the Egyptian pound and a lack of foreign exchange are seen as the major factors for the drop in imports. Egypt’s food inflation annual rate is at 126 percent compared to 2020. Egypt’s CY 2023 wheat imports were up by 14.5 percent to 11.0 MMT, 5 MMT of which was imported by GASC with the balance for the private sector. Eighty percent of the wheat imports originated in the Black Sea – Romania, Ukraine, and Russia. Egypt’s currency (the Egyptian pound) has fallen by 20 percent in Ja...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.