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China’s raisin production is forecast to decline by nearly 6 percent on year to 170,000 MT in MY 2022/23 due to a lockdown in Turpan that put raisin processing on hold. The lockdown was enforced on August 10 at the start of the raisin processing season.

China’s slowing economy and COVID-related restrictions continue to weaken demand for oilseeds for feed and food use. Soybean imports for marketing year (MY) 21/22 and MY 22/23 are revised downward to 92 million metric tons (MMT) and 96.5 MMT, respectively, on weak demand for vegetable oil in the food service sector and soybean meal (SBM) in the swine and poultry sectors.

Korean seafood imports totaled $5.74 billion in 2021, up 9 percent from 2020, with imports from the United States increasing slightly to $217 million. The United States remains the fifth largest seafood exporter to Korea with a 3.8 percent market share.

Australian beef supply is forecast to make a substantial step towards recovery in 2023 after falling to the lowest level in decades in 2021 and generating only a marginal improvement in 2022. The Australian cattle industry is expected to continue its strong herd rebuild in 2023 but with female slaughter rates rising.

In 2023, imports of breeding swine and pork are expected to decline to 5,000 head and 1.85 million metric tons (MMT), respectively, due to lower domestic hog and pork prices. Consumer price sensitivity and competition among producers are expected to constrain pork and hog price increases, squeezing margins. Strong carryover stocks of beef cattle from 2022 into 2023 will support an increase in cattle and beef production to 52.575 million head and 7.4 MMT, respectively.

China’s biofuels policies continue to wane as a priority for the People’s Republic of China (PRC) and investment in the sector has declined. Post estimates China’s 2022 ethanol blend rate at 1.8 percent, down from 2021 and well below the peak blend...

New Zealand is expected to have already reached “peak” cattle numbers, and FAS/Wellington anticipates a very gradual decline in both dairy and beef cow numbers in the near future. One of the major influences on this is New Zealand governmental policy, and in particular regulations regarding livestock exclusion around certain water sources, as well as proposed pricing of agricultural emissions.

Taiwan is going through an unprecedented phase of high-end wine consumption growth, placing the United States as the second largest foreign supplier by value. Being the U.S. wine’s sixth largest valuable Asian market, Taiwan achieved its outsized impact for purchasing high-end U.S. wine.

This report provides trade data on Vietnam's monthly rice exports by grade and destination and weekly export quotes for rice by grade.

This report highlights notable household consumption for meat products among Japanese consumers and the strong preference for home-meals during the global pandemic. Recent data released from The Ministry of Agriculture, Forestry and Fisheries announced the breakdown of meat consumption (by setting and use) in 2020.

Rice export prices remain unchanged as the further weakening of the Thai baht offset increased domestic rice prices.

Estimated cotton imports for marketing year (MY) 22/23 are reduced to 2.2 million metric tons (MMT) on high carry-in stocks and higher domestic production. MY 22/23 production is increased to 6 MMT on higher yields in Xinjiang. China’s slowing economy and weak domestic demand reduced cotton use in MY 21/22 to 8 MMT and lowered imports to 1.76 MMT.