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FAS/Tokyo projects Japan’s beef production in 2024 will be almost flat from 2023 because fewer cows will be culled now that milk production has dropped enough to match demand.

While EU beef production is forecast to further decline in 2024 due to a structural unprofitability of the sector and mounting environmental regulations, the EU pork supply is projected to rebound in 2024.

Argentine beef exports in 2024 are projected up at 920,000 tons carcass weight equivalent, 20,000 tons higher than USDA official.

From February 23, 2024, U.S. wines can access the Thai market duty-free and with lower excise taxes.

Rice export prices remain unchanged as the downward price pressure from the new supplies of white rice offsets the strengthening of the Thai baht.

Brazil is currently at the bottom of the cattle cycle, liquidating inventories since 2023. The oversupply of cattle for slaughter has led to a slow price recovery and longer-term impact to the replacement market.

After an exceptional year in sales in 2020, the Spanish retail sector is becoming increasingly competitive, while trying to find a balance between high input costs and improved efficiency, during a period of high inflation that once again gives price the leading role in purchasing decisions.

Rice export prices decreased 1-2 percent as new inquiries for white rice were quiet.

Dry and warm conditions across the EU, combined with a decline in corn plantings, are anticipated to reduce the bloc’s total grain production in MY 2022/23. Nevertheless, EU exports of grains are expected to remain stable and partially replace Black Sea Region origins in international grain markets. EU grain importing Member States will expand their purchases in alternative grain suppliers to make up for the limited access to Ukrainian grain and the shorter domestic availability.

Competition by other crops continues to force Spain’s fodder area down. In MY 2022/23 the dry spring is anticipated to have negatively affected yields in non-irrigated land. On the processor side, energy prices will keep forcing margins down.

U.S. beef exports into the EU’s High Quality Beef (HQB) quota seem to finally have emerged from the impact of COVID-19 restrictions in the last quarter of the 2021/2022 quota year. In the quota year 2022-2023, U.S. beef exporters can at last start benefitting from the 2019 agreement with the EU about reserving a U.S. specific part of the HQB quota, which was negotiated between the United States and the European Union in 2009.

On July 26, 2022 the Canadian Food Inspection Agency (CFIA) opened a consultation on proposed guidance for registration requirements of gut modifier products under the animal feeds regulations. The consultation will remain open until September 19, 2022.