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FAS Bangkok (Post) forecasts marketing year (MY) 2022/23 cotton imports slightly larger than MY2021/22 in line with the global economic recovery and anticipated rising demand from key foreign trade partners. There has been a significant increase of imported cotton in MY2021/22 due to foreign customers’ pent-up demand for both textile and garment products from the previous years.

Despite ongoing high demand, Post estimates that U.S. cotton exports to Vietnam will decline by 25 percent in marketing year (MY) 21/22 due to price volatility, ongoing logistical challenges, and tough competition from Australia. Post forecasts Vietnam cotton imports for MY22/23 will increase 5 percent to approximately 8.2 million bales or about 1.78 million metric tons (MMT).

Despite being a small country, New Zealand is a major exporter of food and beverage products, and many of these products are manufactured in-country requiring inputs imported from other suppliers. The United States is a key source of ingredients including pork, lactose, tree nuts, hops and other products. The United States also supplies ingredients for animal feed.

The Dominican Republic´s food processing industry was valued at $10.6 billion during calendar year (CY) 2021 in activities categorized as “food industry” with an additional $3.2 billion for processed beverages and other products during the same period.

This report highlights all major certificates and permits required by the Government of Nigeria (GON) for exporting food and agricultural products from the United States to Nigeria. It also complements The FAIRS – Annual Country Report for Nigeria (2022).

Australian oilseed production, dominated by canola, is expected to be strong again in marketing year (MY) 2022/23, after big crops in MY 2021/22. Canola production is forecast in MY 2022/23 at 4.7 million metric tons (MMT), down from the record-busting crop estimated at 6.35 MMT in MY 2021/22, but if realized would still be the second largest crop in history.

FAS/Managua expects 2022 peanut and oil production to remain flat from the previous year, with the vast majority of peanuts and virtually all peanut oil exported overseas.

Turkey’s cotton production in marketing year (MY) 2022/23 is forecast to increase to 925,000 metric tons (MT) (4.2 million bales) based on the assumption that farmers will plant more cotton in response to strong cotton prices. Growing demand for textiles and apparel is expected to push MY 2022/23 cotton consumption higher to 1.9 million MT (8.7 million bales).

The turnover of the Dutch food processing industry for 2021 is forecast at $88 billion. Food companies that traditionally sell to HRI-foodservice outlets saw sales drop by roughly one-third due to the global pandemic.

Australia and India have signed a new trade agreement, the Australia-India Economic Cooperation and Trade Agreement (AI ECTA). More than 85 per cent of Australian goods exports will have tariffs eliminated.

On March 3, 2022, the Food Safety and Standards Authority of India (FSSAI) published a guidance document on the elimination of trans fats. The FSSAI document advises food manufacturers to test their products for trans-fats.

On March 15, 2022, the Sri Lanka Standards Institution (SLSI) notified draft amendment standards (number 1) for Sri Lanka Standards (SLS) 1534:2016 for instant noodles to the World Trade Organization (WTO). WTO members are invited to submit comments on notification G/TBT/N/LKA/50. The comment period expires on May 15, 2022.