Browse Data and Analysis

Post adjusts the Marketing Year (MY) 2021/22 palm oil production forecast down to 18.2 million metric tons (MT), due to ongoing labor shortages. The MY2021/22 palm oil export estimate is revised to 16 million MT, a drop of 500,000 MT due to the estimated drop in production and resumption of Indonesian palm oil exports. Palm oil prices continue to fall as key buyers, India and China, prefer soybean oil to palm oil.

Post revises the total feed demand forecast down to 26.6 million tons in MY2021/22 as Vietnam continues to face issues with African Swine Fever, inflation, and high feed ingredient costs.

FAS Manila revised MY 2022/23 milled rice production downward to 11.975 million MT both because of a 3 percent expected reduction in yields as soaring fertilizer prices result in significantly reduced application and because of the effects of Typhoon Noru (Local name: Karding).

With the further relaxation of COVID-19 restrictions, increased consumer mobility resulted in higher foot traffic in restaurants and hotels. Consumers have become more confident in dining in restaurants.

Taiwan is the seventh-largest market for U.S. agricultural exports. Taiwan has vibrant urban communities and a highly developed e-commerce industry that provides convenience for customers, all which support Taiwan’s continued demand for safe and high-quality food products. In addition, evolving consumption trends suggest customers are increasingly looking for western-style food options that cannot be locally sourced. Since domestic food production alone cannot match increased food demand, agricultural imports will continue to play an important role in Taiwan’s retail food economy. While trade barriers exist and competition intensifies, opportunities to increase U.S. agricultural exports remain promising.

This report provides an unofficial translation of Vietnam’s Ministry of Agriculture and Rural Development (MARD) Circular 09/2022 dated August 19, 2022, to amend and supplement regulations on import quarantine of terrestrial animals and terrestrial animal products. This Circular will take effect on October 6, 2022.

On September 15, 2022, Taiwan announced the extension of tariff and tax exemptions for several agricultural commodities till the end of 2022. The tariff on beef and selective butter products and milk powder is reduced by 50 percent, the tariff on wheat and the business tax on imported corn, soybeans and wheat are waived. These measures have been in place since December 2021.

Following the success of our virtual seminar at the Hong Kong Polytechnic University in March 2022, ATO Hong Kong partnered again with the University to co-host an educational cooking demonstration and lecture on July 18, 2022. The class highlighted versatile, sustainable, and delicious USA foods through the culinary presentations of two dynamic chefs.

Export prices decreased 1-2 percent due to the further weakening of the Thai baht.

Taiwan Food and Drug Administration (TFDA) will implement new certification requirements for imported meat products, effective October 1, 2022. The current U.S. certificates for meat products will continue to be used, with the extra information required to be inserted in specific sections.

After two consecutive years of reduced chicken production in 2021 and 2022, Korea’s chicken production is projected to recover by 1.6 percent to 945,000 metric tons (MT) in 2023 due to increased chicken inventory and rising consumer demand.

Covid-19 has accelerated digitalization and propelled emergence of new trends in Taiwan – rapidly growing cloud kitchens, popularizing at-home cooking, and expanding retail presence of frozen and prepared meals.