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Dominance in Rice

India is the world’s largest exporter of rice and Refinitiv points out that India’s export rice prices have been consistently lower than that of Thailand and Vietnam for the past two years. India is exporting roughly twice the amount of rice as Thailand and Vietnam combined. India has a competitive edge since its domestic rice reference price is 15 and 20 percent lower than the producer prices in Thailand and Vietnam, respectively. India has also maintained a higher stocks to use ratio than these competing suppliers, thus justifying its lower pricing.  Moreover, higher prices due to global food security concerns coupled with a predicted normal monsoon means that India’s farmers will once again produce a large, export...

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British Prime Minister Rishi Sunak has proposed that anyone turning 15 years of age or younger in 2024 will be banned forever from purchasing cigarettes. Eash year, the age restriction will be raised by one year. The bill also makes vapes less appealing. The goal is to start the first generatio...

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WASDE Soybeans

USDA increased U.S. soybean ending stocks for 2023/24 by 25 million bushels to 340 million. The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively. Gl...

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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.

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