• 16 - 18% starch
• 75 - 78% water
• 2% protein
• 1% minerals
• 1% cellulose ………………..

• market development,
• international trade agreement negotiations,
• and the collection of statistics and market information.  

• its network of agricultural counselors,
• attachés, and trade officers stationed overseas
• and its analysts,

Australia, Canada, China, the Europe, India, Pakistan, Russia, Turkey, the Ukraine, and the US account for over 80% of world wheat production.  

For decades, wheat was a commodity no American needed to think much about, except the farmers who grew it. The grain was usually plentiful and prices were low.

All of a sudden, those assumptions have been turned upside down. With demand soaring abroad and droughts crimping supply, the world’s wheat stockpiles have fallen to their lowest level in 30 years, and stocks in the United States have dropped to levels unseen since 1948.  

The Food and Agriculture Organization of the United Nations  estimates that world wheat production will rise this year to nearly 664 million tons, from about 655 million tons — not enough to replenish stocks and push down prices. In December, the organization noted that high international grain prices were causing food shortages, hoarding and even riots in some places.

In the first week of February 2008 prices were nominal records, the inflation-adjusted record for wheat was set in the mid-1970s, when it exceeded $20 a bushel in today’s dollars after huge sales to the Soviet Union.

Foreign buying is driving this market, too, but these buyers include South Korea, Taiwan, Mexico, Nigeria and Venezuela. Economic growth abroad has given people the means to improve their diets, and they are developing a taste for products made from wheat.

Domestic

• Hard Red Winter (HRW) was up $84 per ton,
• Hard Red Spring (HRS) jumped $176,
• Soft Red Winter (SRW) climbed $54, and
• Soft White (SWW) was up $12.......

Kyoto Convention

The International Convention on the simplification and harmonization of Customs procedures

It is an international instrument on the harmonization of Customs techniques which covers all aspects of Customs legislation. It was done at Kyoto, Japan, on 18 May 1973 and entered into force in 1974. 

Since then the growth in international cargo, developments in information technology and a highly competitive international business environment   have created conflict with traditional Customs methods and procedures. 

World Customs Organization (WCO) has therefore revised and updated the the Kyoto Convention   to ensure that it meets the current demands of international trade. 

The WCO Council adopted the Revised Kyoto Convention   in June 1999 as the blueprint for modern and efficient Customs procedures in the 21st century....

Japan Customs

• Japan Customs performs a wide range of tasks, such as the collection of Customs duties as well as Customs clearance, surveillance, and control. In these ways, Japan Customs contributes to the maintenance of the international trade order and the sound development of international trade.

• Recently, the international exchange of people and goods has been increasing dramatically with the internationalization of Japan's society and economy.

• Japan Customs plays an extremely important role at the border.

• Functioning as local branches of the Ministry of Finance, Customs offices are established throughout the country.

• There are 9 Customs headquarters (Hakodate, Tokyo, Yokohama, Nagoya, Osaka, Kobe, Moji, Nagasaki, and Okinawa).

• Each Customs headquarters has departments responsible for coordination, enforcement,Customs clearance and post clearance audit, investigation and intelligence.

• For the local administration of Customs, there are Customs branches, Customs sub-branches, and Customs guard posts in certain locations.

• Customs offices are located at almost all of the nation's 120 international seaports (Keihin, Kobe, Osaka, Nagoya, etc.), and at 27 international airports (Narita, Kansai, etc.), which are designated as "Customs seaports" or "Customs airports."

• There are also Customs offices in many other cities and ports as well as at post offices where international mail is processed.

• As of 1 January 2007, there are 9 Customs headquarters, 68 Customs branches, 127 Customs sub-branches, and 7 Customs guard posts, employing a total of about 8,500 Customs officials.

Sources: Japan Customs

 The Bunker Adjustment Factor (BAF)

The Currency Adjustment Factor (CAF)

A number of enquiries have been received as to whether BAF, CAF and similar charges should be included in the customs value under the aforementioned provisions.

The Bunker Adjustment Factor (BAF) is a surcharge raised by shipping lines to take account of fluctuations in the price of marine fuel.

A similar surcharge, commonly referred to as “fuel surcharge” is applied where goods are transported by air to compensate for fluctuations in the price of aviation fuel.

The Currency Adjustment Factor (CAF) is an adjustment to the shipping line’s freight tariff which takes into account variances between the currency in which freight is normally billed and those under which expenses are incurred. It is normally calculated as a percentage surcharge on the basic freight rate.

Annual Economic Report 2007

 2006 was an excellent year for Germany. Economy has been on a powerful upswing since the start of last year and, alongside the stimulus from foreign trade, domestic demand is now making increasingly positive contributions to growth.

• The economy now stands on two strong pillars, making it more robust in facing challenges from the world economy.

• According to estimates by international organisations the growth in the world economy will actually be slightly lower this year than last, but it will remain high.

• World trade will also remain dynamic, and this should continue to benefit the German export industry.

• The high competitiveness of German firms should bring gains in markets shares of world trade.

• The good business conditions Germany offers are increasingly bearing fruit. This is evident in a clear improvement in the competitiveness of German firms.

• Companies are investing briskly and creating new jobs.

• There are good signs that the upswing will continue this year as well.

• The gross domestic product (GDP) will grow by around 1¾ %, or 1.7 % arithmetically, on average for the year, after 2.5 % last year.

• The number of people unemployed is expected to fall by around 480,000 from last year’s average.

• Employment will continue to grow, rising by 300,000 on average for the year.

• Private households’ disposable income will rise due to the employment effect as well as the expected increases in earnings, and this will create an essential condition for growth in private consumption.

• The growth forecast by the Council of Economic Experts largely corresponds to the Federal Government’s annual projection, with some deviations in the details.........

Sources: Federal Ministry of Economics andTechnology (BMWi)