Browse Data and Analysis

The seafood industry plays an important role for Côte d’Ivoire 's national economy. In 2021, this sector accounted for about 3.2 percent of the agricultural GDP, resulting in a contribution of 0.8 percent to the overall GDP and generated $114 million in value. Demand for high quality seafood is high, creating an excellent opportunity for U.S. seafood suppliers.

Japan’s Ministry of Health, Labour and Welfare (MHLW) proposed revisions to Japan’s maximum residue levels for 11 agricultural chemicals (Afidopyropen, Cyantraniliprole, Tetraniliprole, Picoxystrobin, Flufenoxuron, Pencycuron, Cyfluthrin, Ampicillin, Phenoxymethylpenicillin, Lubabegron, and Bacitracin) for various agricultural commodities.

Post estimates cattle numbers in 2022 are expected to stagnate with 18 million head, including buffaloes, due to slow population growth rate, low raw milk prices, and an increasing number of cows being sent to slaughter because of high feed prices, despite government incentives.

A number of factors have converged over the last 18 months to send global agricultural commodity prices to near-record levels. Russia’s invasion of Ukraine – and the potential loss of Ukrainian exports – was the latest development to push commodity prices higher.

Post forecasts overall feed demand to decline by 2 percent in MY2022/23 as prices rise and additional contraction of the swine industry is anticipated. Corn for feed consumption in MY2022/23 is forecast up 2.8 percent, or 6 million metric tons (MMT). MY2022/23 corn, wheat, and rice production are all forecast down due to the push to increase oilseed production and weather conditions in major wheat growing areas.

The Government of Ecuador continues defining the yearly minimum price for local production of corn, rice, and wheat. The Minister of Agriculture supports the reduction of corn area and the shift to other crops that are mainly focused on the export market.

Declining cases of COVID-19 globally and domestically are expected to increase overall demand for textile and textile products. Therefore, following an 8.2 percent decline in 2020/21, cotton imports are expected rebound by 12.7 percent to 2.6 million bales in 2021/22.

Korea’s overall demand for beef and pork in 2022 will remain steady and could improve in the second half of the year with a reopening of its restaurant sector. However, Covid-related restrictions continue to limit Korea’s Hotel, Restaurant, and Institutional businesses where meat is heavily consumed.

The Philippines is the largest market for U.S. soybean meal (SBM) and a top coconut oil exporter. The country is also a major palm oil market for neighboring ASEAN countries. The loosening of COVID-related restrictions and the corresponding economic rebound are expected to support greater demand for soybean meal.

South Africa experienced an upward trend in oilseed production (soybeans and sunflower seeds) driven largely by rising oilseed prices, higher yielding cultivars, and a local demand-pull from investments in new oilseed processing plants.

Taiwan’s soybean imports are projected to reach 2.63 and 2.65 MMT in MY2021/22 and MY 2022/23. Soybean import demand will be buoyed by steady feed demand as well as exports and demand for soybean oil. In MY 2020/21, Taiwan’s COVID-19 control restrictions in Q2-Q3 had some negative impact on demand from the HRI sector, especially for soybean oil and palm oil which are favored in commercial use.

Marketing Year (MY) 2022/23 soybean imports are expected to increase 5 percent from a slow import growth in MY2021/22, driven by the recovery in hotel and food service sector. Palm oil production in MY2021/22 and MY2022/23 is expected to continue the upward trend.