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The FAS/Seoul June 2022 Grain and Feed update covers changes to the Korean rice situation since the March 2022 Grain and Feed Annual report. MY 2022/23 rice production will likely decline slightly (1.4 percent) from the previous estimate due to government efforts to avoid overproduction, while consumption and imports are projected to remain unchanged from FAS/Seoul’s initial forecast.

In 2021, the total value of all retail food and beverage (F&B) sales in Japan totaled $467.20 billion, a 2.3 percent decrease over 2020 sales of $478.12 billion. Supermarkets continue to represent the bulk of the retail food market, accounting for 74 percent of the market, with convenience stores, drugstores and internet sales of food and beverages accounting for the rest of the market.

Rice export prices decreased 3-5 percent due to the weakening of the Thai baht.

Health, wellness, and the environment continue to be key purchasing factors for Australian consumers. Portion sizes are increasingly important as consumers want quality over quantity, and they expect packaging to be informative and environmentally responsible.

U.S. food and agricultural products have continued to prove popular in the New Zealand market, and in 2021 the value of these products was a record US$ 625 million, US$ 425 million of which were consumer-oriented products. The New Zealand grocery and food retail sector has seen resiliency during COVID-19 and continued strong demand.

Executive Order #171, Series of 2022, modifies market access for MFN tariffs on corn and rice through December 31, 2021, necessitating changes to Post’s corn and wheat balance sheets but not rice.

Post forecasts Burmese rice exports lower in June due to reduced supplies in the domestic market and higher domestic prices. The Burmese government continues making changes to its trade and foreign exchange rate policies that are impeding trade.

This report provides an overview of Vietnam’s certification requirements for imported food and agricultural products. In the first six months of 2022, Vietnam made no changes to its certification requirements.

This report provides information of the food and agricultural laws and regulations currently in force in Vietnam.

A Tableau visualization comparing exports to the current top U.S. agricultural export markets since 1989.

Despite a small population of 7.4 million people, Hong Kong is the seventh-largest export market for U.S. consumer-ready agricultural products. Hong Kong has always been an attractive market for innovative U.S. food and beverage products as well as a gateway to the region.

The U.S.-Japan Trade Agreement (USJTA), which entered into force on January 1, 2020, improved market access for U.S. products through the creation of tariff-rate quotas (TRQs) for food wheat, wheat products, malt, processed cheese, whey, glucose and fructose, potato starch, corn starch, and inulin. In JFY 2021, allocation and fill rates of the TRQs continued to remain low.