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- (-) January 2022
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On January 27, 2022, the Turkish government published a regulation (2022/1) that granted the Turkish Ministry of Agriculture and Forestry (MinAF) the authority to restrict the export of twenty (20) agricultural products in order to decrease domestic food inflation.
The Malaysian food processing industry has been identified as a crucial component of future national economic recovery and growth resulting from the significant disruption of COVID-19 pandemic.
The Malaysia food retail sector was estimated at $18 billion in 2020, and is projected to grow 30 percent to $23 billion by 2025.
On January 7, 2022, the Turkish Government published Biosafety Decisions on the import of genetically engineered (GE) soybean and corn events. The Ministry of Agriculture and Forestry (MinAF) approved one new soybean event and one new corn event for feed and cancelled the approvals of two corn events which expired on 12/24/2021.
On January 3, 2022, Turkey announced the domestic producer price index (PPI) inflation in the second half of 2021 was 47.39 percent, therefore triggering an automatic increase in the fixed-amount Special Consumption Tax (SCT) for alcohol beverages, soft drinks, fruit juice, and tobacco products.
On December 31, 2021, Turkey announced a revised tariff list for a number of products. According to a Presidential Decree published in the Official Gazette, the import tariffs on wheat, corn, rye, barley, oats, chickpeas, and lentils, has been eliminated through December 31, 2022.
As Malaysia's economy begins to recover from COVID-19 impacts, U.S. exporters can find strong opportunities in the retail food and food processing sectors. While recovery may take longer in the HRI sector, Malaysians' love of dining out and continued development of tourism will contribute to future growth in this area.
Post revised its MY 2021/22 crude palm oil (CPO) production downward from 18.2 million tons to 18.0 million tons, taking into account the effect of anomalous weather from the super typhoon Rai (a month of rain recorded in one day on December 18 in Peninsular Malaysia) and the continuing acute labor issue the industry has faced since 2019.