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Exports of U.S. food and agricultural products to Panama reached $1.03 billion in 2022, making it the United States’ 33rd largest export market and 6th largest market in Latin America for consumer-oriented products.

Bite size local news, Post reports and activity summaries wrapped by ATO Hong Kong. In this issue: Hong Kong Drops Mask Mandate; Hong Kong Economic Growth Predicted to Grow Between 3.5 And 5.5 Percent In 2023;

Tunisian MY 2023/24 soybean imports are expected to reach 540,000 MT, compared to 510,000 MT in MY 2022/23. Tunisian olive oil exports are forecast to reach 200,000 MT in MY 2023/24, compared to 155,000 MT in MY 2022/23.

Rice export prices declined 1-2 percent due to the weakening of the Thai baht.

High feed and energy prices and environmental restrictions are pressuring both cattle and swine farmers in the European Union (EU), leading to a reduction in operations.

In 2023, Post forecasts that cattle production will grow 1.3 percent, to 48.5 million cattle head, as the Brazilian cattle sector reaches its peak in the production cycle.

Philippine imports of pulses and other leguminous vegetables in various formats (dry, frozen, flour, and prepared foods) grew 48 percent in the past five years to $88 million in 2022.

Ecuador’s National Customs Service (SENAE) announced on February 2, 2023, that Distiller’s Dried Grains with Solubles (DDGS) will no longer be subject to a 12 percent value added tax.

Bulgaria’s hotel, restaurant, and institutional (HRI) foodservice industry grew year-on-year by early 2020. The COVID-19 pandemic severely hit the industry and food service sales dropped significantly in 2020 and in early 2021. In 2021, despite some remaining anti-COVID measures, after a strong summer tourist season, the HRI sector started to rebound and registered up to 25 percent growth in certain categories over 2020.

Despite continued economic constraints, U.S. – Ecuador bilateral agricultural and related product trade rose to $4.5 billion in 2022. In addition, U.S. agricultural and related product exports to Ecuador reached a record $741 million.

Exports of U.S. food and agricultural products to Panama reached $1.03 billion in 2022, making it the United States’ 33rd largest export market and 6th largest market in Latin America for consumer-oriented products.

China’s two-way agricultural trade with members of the Regional Comprehensive Economic Partnership increased to $123.5 billion in 2022, one year after the regional free trade agreement came into force.