Browse Data and Analysis

As factories have effectively returned to pre-COVID operations, food and beverage manufacturers have purchased more food and beverage ingredients to address domestic consumption. However, elevated inflation of near six percent remains the primary driver of food and beverage spending.

Taiwan’s soybean imports are forecast at 2.65 MMT for MY2022/2023 and MY2023/2024. In MY 2021/2022, Taiwan imports of soybeans reached a record high of $1.74 billion. To stabilize commodity prices and reduce inflationary pressure for consumers, since February 2022 Taiwan has waived business taxes on imported soybeans, currently set to expire on June 30, 2023.

Taiwan’s domestic wheat production, 4,000 MT in MY2022/2023, is dwarfed by imports at 1.4 MMT for the current MY. Australia is expected to further recover wheat market share from the United States due to competitive pricing and production recovery.

FAS Manila forecasts copra production at 3 million MT for MY 2023/24 because of the coming El Niño and the break from the 3-year productive cycle. Soybean meal imports are projected to reach 2.9 million MT because of expected expansion in the broiler and aquaculture sectors.

Post forecasts Malaysian palm oil production in marketing year (MY) 2022/23 at 18.85 million metric tons (MT), up 702,000 MT from the previous year as the labor situation continues to improve.

Foreign Agricultural Service Phnom Penh (Post) forecasts an increase of both rice and corn production in Cambodia due to lower input prices, higher animal feed prices, and a positive outlook on tourist inflow into the Kingdom.

Marketing year (MY) 23/24 cotton imports are forecast at 1.8 million metric tons (MMT) on higher domestic demand for textile and apparel products and higher spinning demand.

Indonesian cotton imports in 2023/24 are forecast to remain stable at 2.0 million bales assuming spinners will use more inventory on hand before making new purchases.

This report highlights Japan’s food processing industry, notable trends, and a market snapshot of western Japan.

At least 1.25 million poor farmers and 5 million indirect beneficiaries will benefit from Adapting Philippine Agriculture to Climate Change (APA), a $39.3-million project approved to foster climate-resilient agriculture (CRA), and develop the Philippine agriculture sector.

Thailand’s food and beverage industry contributes significantly to the country’s economy. The country aims to be one of the world top ten processed food exporters by 2027 and a key global player in the “Future Food” market.

Indonesia currently imports 65 percent of the raw materials needed for its growing food processing industry.