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Rice export prices declined 2-5 percent due mainly to the weakening of the Thai baht.

This report provides the standard rules and regulations relevant to the administration of the Philippines' tariff-rate quotas, known locally as Minimum Access Volumes (MAV) and, when authorized, MAV Plus.

Bite size local news, Post reports and activity summaries wrapped by ATO Hong Kong. In this issue: Improved Sentiment Among Hong Kong Small and Medium-Sized Enterprises; Hong Kong Tourism Sector Expects Travel To Rebound 70 Percent

The report contains a provisional translation of the draft Notification 3.0 under the Sophisticated Act that proposes Japan's new transport biofuel standards from April 1, 2023. The draft notification is open for public comment until March 2, 2023.

This report outlines the Philippine government requirements for the importation of rice, including significant developments since 2022, when the government generally stopped approving issuances of the Sanitary-Phytosanitary Import Clearance (SPSIC) import permit.

On February 15, 2023, the State Council Tariff Commission (SCTC) announced to extend the Section 301 retaliatory tariff exclusion period for sorbitol and other select U.S. commodities to September 15, 2023.

China remained the world's largest seafood producer in 2022, with production expected to reach 67.5 million metric tons (MMT), up from the 66.9 MMT in 2021. Production growth continues to be driven by aquaculture which is expected to increase 1.2 percent year-on-year to reach 54.6 MMT in 2022.

On February 3, 2023, China notified a new national standard to the World Trade Organization (WTO) restricting excessive packaging for edible agricultural products (G/TBT/N/CHN/1715). The deadline for comment submission is April 4, 2023.

On February 13, the Chinese Communist Party (CCP) Central Committee and the People’s Republic of China (PRC) State Council published the 2023 “No. 1 Document,” providing broad guidance for resource allocation and development goals in China’s agricultural sector. Food security remains a top focus with priority given to boosting production of grains and oilseeds and various policies to support farmer income and improvements in rural China.

In 2022, the total value of all U.S. agricultural and related products exported to the People’s Republic of China (PRC) reached a record $40.9 billion, an increase of 14.5 percent compared to the previous year.

As the PRC dismantles it’s zero-COVID policy measures, there is great optimism about the economy and, particularly, the HRI sector. Stakeholders expect a rebound in travel to fuel recovery in hotels, restaurants, and other outlets.

Rice export prices declined 2-5 percent as new supplies of MY2022/23 off-season rice entered the market.