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This report supplements information provided in the 2023 Indonesia FAIRS Country Report and updates the 2022 Indonesian FAIRS Export Certificate Report.

This report provides updated technical information for requirements and regulations on food and agricultural products as currently required by the Government of Indonesia (GOI).

On December 22, 2023, the State Council Tariff Commission (SCTC) announced to again extend the Section 301 retaliatory tariff exclusions on 12 agricultural products, including shrimp for cultivation, whey for feed, fishmeal for feed, alfalfa and seven hardwood products through July 31, 2024.

On December 22, 2023, President Ferdinand Marcos, Jr. signed Executive Order No. 50 (EO 50) extending lower tariffs on pork, corn, and rice for another year or until December 31, 2024. EO 50 was published on December 26, 2023, and took effect immediately upon publication.

Rice export prices increased 1- 4 percent mainly due to the strengthening of the Thai baht.

On December 21, 2023, the State Council Tariff Commission (SCTC) announced its annual tariff adjustment plan that sets tentative import and export tariff rates for select commodities in 2024.

Following three years of travel restrictions due to China’s zero-COVID policy, trade shows are quickly regaining their international participants and audiences.

Despite challenges related to the slow economy, citrus production in China for marketing year (MY) 2023/24 is expected to continue to grow, outperforming other fruit categories.

On November 14, 2023, Statistics Korea (KOSTAT) released its final estimate of 2023 rice production at 3.7 million metric tons (MMT), up an additional 0.5 percent from the initial rice production estimates released in early October and down 1.6 percent overall from the prior year.

In 2023, the Korean government implemented three rounds of tariff rate quotas (TRQs) for various imported agricultural, livestock, and fishery products, including new TRQs to stabilize food prices.

As the 5th largest country export market for the United States, Korea provides a promising market for U.S. agricultural products. In 2022, Korea imported about $50 billion agricultural and food products from all over the world and the U.S. supplied a fifth of it, ranking number one. Other key suppliers were China, Australia, Brazil, Vietnam, and Thailand.

As the US’ sixth-largest export market for food and agricultural products, Taiwan imported a record-high US $4.4 billion of food and agricultural products from the US in 2022. These high-in-demand products include beef, poultry, dairy, fruits, tree nuts, and vegetables.