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This report modifies the rice consumption, trade, and stocks analysis of the 2023 Grain and Feed Annual for Indonesia in light of new official information.

Vietnam’s economy has continued to rebound after the COVID-19 pandemic, while also being affected by global inflation and local price hikes for ingredients.

Post estimates that Vietnam cotton imports in marketing year 2022/23 (MY22/23) will decrease at least 5 percent year on year to nearly 6.3 million bales due to ongoing global low demand for textile and apparel products.

Rice export prices increased 2-3 percent, reflecting new inquiries that offset the depreciation of the Thai baht.

High commodity prices in the international market during the last term of 2022 are expected to impede the growth of 2022/23 Indonesian wheat imports and curb the use of wheat in feed formulation.

Vietnam’s food processing and manufacturing sector grew by 8.8 percent in 2022 versus 2021, while food retail revenue increased by 10 percent.

On March 7, 2023, the People's Republic of China (PRC) notified revised Maximum Levels (MLs) of Nitrite to the World Trade Organization (WTO) under G/SPS/N/CHN/1276.

Japan’s Ministry of Health, Labour and Welfare (MHLW) proposed revisions to Japan’s maximum residue levels for 11 agricultural chemicals (Ametoctradin, Amisulbrom, Flumioxazin, Flupyradifurone, Glufosinate, Mefentrifluconazole, Metaldehyde, Simeconazole, Cefuroxime, Dicloxacillin, and Amprolium) for various agricultural commodities.

Cotton production in Australia is primed for a near record 5.8 million bales in MY 2023/24, stringing together three successive big crops starting from the record 5.85 million bales in MY 2021/22.

On January 4, 2023, the People’s Republic of China (PRC) National Health Commission (NHC), Ministry of Agriculture and Rural Affairs (MARA), and State Administration of Market Regulation (SAMR) jointly announced the publication of a new National Food Safety Standard for 112 Maximum Residue Limits (MRLs) in Foods.

The Philippines maintains a Tariff Rate Quota (TRQ) for corn (H.S. 1005). Following the reduction of tariffs in 2022 and their extension in 2023, significant interest in how to access the in-quota tariff ensued, and in turn, so followed widespread concern among local stakeholders for the process being anti-competitive, outdated, and potentially inconsistent with the Philippines' commitments with trading partners.

In 2022, Taiwan imported record-high US$4.4 billion agricultural products from the US. Yet, due to COVID variants, the Russian invasion of Ukraine, labor shortage, and inflation issues, Taiwan's nominal Gross Domestic Product (GDP) decreased 0.17 percent at $774.7 billion.