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Japan’s Ministry of Economy, Trade and Industry (METI) published a draft notification for biofuel standards from Japanese fiscal year 2023 through 2027.

The 2022/23 cotton import forecast is reduced from 5 to 4.5 million bales due to the problems importers are facing in financing imports. Since December 2022, Pakistan’s shortage of dollars has hindered cotton importers’ ability to fulfill payment...

In 2022, the total value of U.S. agricultural and related products exported to Taiwan reached a record $4.4 billion, an increase of 13 percent compared to the previous year. Taiwan successfully remains the 6th largest market for U.S. agricultural & related exports.

In 2022, Hong Kong was the world’s tenth largest spirits importer, with global imports recovering 7 percent year-on-year and valued at $502 million. From 2020-2021, Hong Kong’s imports and domestic sales of spirits were seriously hampered under the COVID-19 pandemic, as most restaurants, pubs, and bars were closed due to stringent dining, social distancing, and travel restrictions.

For MY 2022/23, Post maintains its forecast wheat production at 3.3 million metric tons (MMT), and barley at 1.2 MMT. Post forecasts MY 2022/23 barley imports at 772 thousand metric tons, in line with the import volume seen last year.

FAS Rangoon forecasts Burma’s corn production lower due to rising production costs, unstable security conditions in some production areas, and unfavorable weather especially in Shan State.

India is the world’s second largest social media user base and provides significant opportunities to market U.S. foods and ingredients. From November 24 through December 31, 2022, the Foreign Agricultural Service in New Delhi (FAS New Delhi) conducted an online promotional activity with Indian Chef Deeba Rajpal to generate enthusiasm and demand for U.S. baking ingredients during the holiday season in India.

The European Commission published a draft regulation outlining new rules for the indication and designation of ingredients for wine. The draft regulation also introduces a change to the VI-1 certificate. Stakeholders have until February 23, 2023, to comment.

Bite size local news, Post reports and activity summaries wrapped by ATO Hong Kong. In this issue: Hong Kong Consumers Celebrate the Holidays with Alaskan Seafood; Hong Kong Economy Contracts in 2022 But Gradual Recovery Expected

Indonesia 2022/23 palm oil consumption is expected to rise to 19.4 million metric tons (MMT) on increased use for biodiesel production, as the Government of Indonesia (GOI) rolls out higher blending rates for its 2023 mandatory biodiesel blending program.

Rice export prices increased slightly despite the weakening of the Thai baht.

This report provides updates to the Korea Rice Production 2022 report issued by FAS/Seoul on June 28, 2022, based on new data released by the Korean Ministry of Agriculture, Food, and Rural Affairs (MAFRA) in December 2022.