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Newsflash about Global Agricultural Development & Data Report for August 2024
Release time:
Sep 29,2024
1. Topic：Brazil Unveils 2024-25 Crop Plan with Funds for the Upcoming Agricultural Season
Time: 1 August 2024
Content：The Government of Brazil (GoB) announced a nominal record in funds for 2024/25 Crop Plan, the main agricultural credit and financing public policy, at R$ 475.5 billion (US$ 88.2 billion). While this year’s funds set a record in nominal terms, nine percent higher than the 2023/24 Crop Plan valued at R$ 435.8 billion (US$ 80.9 billion), agricultural sector representatives deemed the funds insufficient to support farmers struggling with challenging market conditions, such as falling international commodities prices and high production costs. (Source: Up-to-date Reports by International Renowned Analysts)
2. Topic: Canada Consults on Modernizing Fresh Fruit and Vegetable Grade Standards
Time: 2 August 2024
Content：The Canadian Food Inspection Agency (CFIA) has opened a consultation as part of their modernization of Canadian food quality standards. The consultation on grades and standards for fresh fruits and vegetables (FFV) will run from July 22 to October 20, 2024. CFIA is seeking stakeholder feedback to better understand how FFV grades are used in the marketplace, identify opportunities to reduce burdens on industry and support industry competitiveness, and to understand how altering and/or maintaining grades standards may affect stakeholders. (Source: Up-to-date Reports by International Renowned Analysts)
3. Topic: Market Potential for Selected Feed Ingredients in Kenya
Time: 8 August 2024
Content: Kenya’s feed ingredients market is currently estimated at $530 million, with a potential to grow by 30 percent by 2027 due to an expanding feed industry. Currently white corn is the main feed ingredient, but supply is constrained as corn is also a staple food. Both local and regional supplies of alternative ingredients such as soybeans and cake are constrained due to low production, and restrictive import conditions. Imported Distiller’s Dried Grain with Solubles (DDGs) and Sorghum, have potential as alternative ingredients. (Source: Up-to-date Reports by International Renowned Analysts)
4. Topic: Typhoon Gaemi's Impact on Taiwan Agriculture
Time: 7 August 2024
Content: Typhoon Gaemi swept through Taiwan July 24-25, 2024, causing widespread flooding and damage to agriculture particularly in Southern part of Taiwan. The estimated loss - in crop, livestock and fish production - exceeds $86 million. (Source: Up-to-date Reports by International Renowned Analysts)
5. Topic: Oilseeds and Products Update in Indonesia
Time: 7 August 2024
Content: Indonesia palm oil exports are estimated to decline to 26.5 million metric tons (MMT) in 2023/24 on lower output and weaker demand from key destination markets. Post revised down 2023/24 palm oil production to 45.6 MMT as 2023’s El Nino led to much lower yields than previously anticipated. Indonesia 2023/24 soybean production is also revised down to 360,000 metric tons on reduced government assistance for soybean production. Post revises 2023/24 soybean meal imports down to 5.65 MMT on weak demand from the poultry feed industry. (Source: Up-to-date Reports by International Renowned Analysts)
6. Topic: Grain and Feed Update in Indonesia
Time: 6 August 2024
Content: Driven mainly by higher demand from feed mills, higher consumption of flour-based food during the consecutive religious festivities and general election, as well as demand for alternative staples cheaper than rice and trending flour-based foods, Indonesian wheat imports in 2023/24 are estimated to break record levels at 12.6 million metric tons (MMT). Meanwhile, 2023/24 corn consumption for feed is revised down 8.5 percent to 8.6 MMT. Assuming recovering local corn production and lower corn prices, 2024/25 wheat imports are forecast to slow to 12.0 MMT while corn for feed consumption will increase to 9.0 MMT. (Source: Up-to-date Reports by International Renowned Analysts)
7. Topic: The Philippines Announces Renewed Sugar Exports to the United States
Time: 6 August 2024
Content: The Philippines is set to resume raw sugar exports to the United States under its sugar quota in August 2024. The Sugar Regulatory Administration (SRA) issued Sugar Order (SO) No. 3, approving the export of 25,300 metric tons raw value (MTRV) of raw sugar in fulfillment of the United States tariff rate quota (TRQ) allocation for fiscal year 2024. This move comes in response to requests from sugar traders/exporters to allow them to export raw sugar. The Philippines last shipment of sugar to the United States was in marketing year (MY) 2020-2021. Concurrently, the country plans to import around 200,000 MT of refined sugar later this year to address an anticipated supply gap and to stabilize prices. (Source: Up-to-date Reports by International Renowned Analysts)
8. Topic: Agricultural and Agribusiness Consultants in India - 2024
Time: 6 August 2024
Content: This report provides a list of consultants conducting market research and handling inquiries into Indian agriculture, agribusiness, food retail, food/agricultural economics, and rural affairs. This list is neither exhaustive nor all-inclusive. Inclusion of any consultant on this list does not constitute an endorsement, nor does exclusion of any consultant imply any lack of such endorsement. This list is provided as a courtesy to those who desire information in greater detail than typically provided in FAS GAIN reports. (Source: Up-to-date Reports by International Renowned Analysts)
9. Topic: Grain and Feed Quarterly – Vietnam
Time: 5 August 2024
Content: In MY 2023/2024, Vietnam’s rice production appears to be remained stable compared to previous year. Despite a slight decline in harvested areas because of climate change as drought and salt-instruction. By adjusting the crop calendar and adopting new rice high-yield, disease-tolerance rice varieties have led to higher yields compared to the previous year, thereby, offsetting losses from reduced harvested areas. Export volumes have also remained stable, driven by strong demand, although export prices are subject to uncertainty depending on the export and import policies of other countries. Import volumes have become increasingly important as additional supply source, particularly for the rice used for food and feed processing. Vietnamese authorities prioritize sustainability and efficiency in rice business and production. They have proposed the programs aimed at increasing incomes and living standards for rice farmers, protecting environment, adapting climate change, and reducing greenhouse gas emissions. (Source: Up-to-date Reports by International Renowned Analysts)
10. Topic: Grain and Feed Quarterly – European Union
Time: 5 August 2024
Content: EU grain production in MY 2024/25 is expected to decline from last year’s levels due to a combination of smaller area planted to grains and lower yields affecting all grains except for barley and oats. Imports in MY 2024/25 are projected down considering the ample domestic supplies in net-importing Member States. Likewise, exports are expected to decline as crop projections deteriorate in export-oriented Member States. EU grain consumption is forecasted to grow only in response to a slightly higher demand for both feed and Food, Seed and Industrial (FSI) uses. Lower ending stocks reflect the tight market situation anticipated, particularly for EU wheat. (Source: Up-to-date Reports by International Renowned Analysts)
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