The Turkish government has increased the local value-added tax (VAT) on imported DDGS and corn gluten feed in order to protect domestic soybean/sunseed crushers. The country imports most of its DDGS from the U.S., while much of the corn gluten feed originates in Ukraine. Regional Updates Middle East/Mediterranean Comments Iran and Ukraine have signed a memorandum of understanding (MOU) that will help develop agricultural business between the two countries. Ukraine is looking to greatly expand the range of those items exported to Iran, which comprise 85 percent of its exports to that nation, while hoping to attract local investment from there in its agriculture production.Meanwhile, Iran’s wheat supply for the next year (March 2016-Februa...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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.