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On August 23, 2019, the People’s Republic of China’s Ministry of Finance (MOF), State Council Tariff Commission (SCTC) announced new tariffs on certain U.S. products, valued at $75 billion USD.
Rice consumption continues to decline due to a shrinking population and reductions in per capita consumption.
Corn production in 2019/20 is up 20 million tons from July’s projection to 250 million tons, as area harvested and yield are adjusted higher.
Post expects rice production in Sri Lanka to increase to 3 million metric tons in the marketing year (MY) 2019/20 under average weather conditions.
Egypt wheat production is still forecast at 8.77 MMT in MY 2019/20, up from 8.45 MMT in MY 2018/19 due to expansion of total area harvested.
The recovery of monsoon rain levels in August has led to improved soil moisture in Central India which will bolster crop development.
Rice export prices remain unchanged due to quiet trading activities.
Japan’s Ministry of Agriculture, Forestry, and Fisheries (MAFF) confirmed Japan’s first outbreak of Spodoptera frugiperda, or Fall Armyworm (FAW).
The Cabinet agreed to allocate a budget of 60.36 billion baht (U.S. $1.98 billion) for three agricultural price subsidy programs for small rice and oil palm farmers.
Rice export prices remain unchanged as exporters are concerned about current exchange rate volatility.
While a dry spell caused marginal damage on rice and corn production in MY2019/20, the impact of fall armyworm infestation adversely affected corn production to a greater extent.
The report provides trade data on Vietnam's monthly rice exports by grades and destinations, and weekly quotes for export rice by grades.