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FAS/Tokyo forecasts Japan’s chicken production will rise in 2024 to meet strong demand led by tourist consumption in the foodservice sector. Increased chicken imports are needed to replenish depleted 2023 ending stocks.
Raisin production is expected to rebound by nearly 12 percent to 190,000 MT in MY 2023/24 from the previous year after the government of the People’s Republic of China (PRC) removed Covid restrictions that disrupted the previous season’s processing and harvesting.
Thailand’s domestic and export prices grew 1-3 percent as demand for Thai rice surges in response to rice export bans by India and Burma.
Post forecasts a rebound in Korean poultry production for 2024, surmounting 2023 supply challenges to meet rising consumer demand for chicken meat.
Soybean imports are raised to a record 101 million metric tons (MMT) in marketing year (MY) 22/23 on surging imports, which reached 84.3 MMT through July.
FAS Bangkok estimates Thailand’s chicken meat production to marginally increase in 2023 amid a surge in exports, a slow recovery in the tourism sector and high feed costs.
On July 22, 2023, the People’s Republic of China (PRC) State Administration for Market Regulation (SAMR) released revised Measures for Supervision and Administration of Quality and Safety of Edible Agricultural Products in Markets.
Hong Kong reopened its borders to the world in late 2022, and with mainland China in early 2023. The slow return of inbound tourism has positively improved the situation of the local hospitality and food service sectors.
This report outlines Philippine government requirements for the importation of food and agricultural products.
Reflecting strong demand for Thai rice, domestic and export prices grew 1-3 percent this week.
Post lowered MY2023/24 rice production estimate to 19.6 MMT due to water supply concerns.
In July, Vietnam's rice exports surged to 656,869 tons, with its primary export markets being the Philippines, Indonesia, Ivory Coast, Ghana, and China. Notably, shipments to the Philippines soared to 239,400 tons, marking a 45% spike from the previous month and securing a 36% share of the export market.