Browse Data and Analysis

Rice export prices increased 2-3 percent, reflecting new inquiries that offset the depreciation of the Thai baht.

The February 6, 2023 earthquakes greatly affected Kahramanmaras, the center of Turkiye's cotton yarn and textile production, but the industry is already on the road to recovery.

Turkiye’s food and beverage sector depends on domestic and imported ingredients, a large portion of which are sourced from Europe. European ingredients enjoy zero or low import duties under preferential trade agreements, as well as lower freight costs.

The drought in Andalucía is anticipated to prevent further expansion of Spain’s cotton area in MY 2023/24. Irrigation water allocation will be critical for farmer’s planting decisions, and temperatures and pest incidence during the summer months will also determine final yields.

The food processing is the fourth-largest industry in Germany. According to the Federation of German Food and Drink Industries' (BEV) estimates, total revenue of USD 20.7 billion were generated across all sectors in 2022, which is 17.9 percent higher than the previous year.

In March, the Turkish Ministry of Agriculture & Forestry (MinAF) detected for the first time an SAT-2 strain of foot and mouth disease (FMD) in cattle.

On February 15, 2023, Commission Regulation (EU) 2023/334 amending Annexes II and V to Regulation (EC) No 396/2005 lowering the maximum residue levels (MRLs) for clothianidin and thiamethoxam in or on certain products was published in the Official Journal (OJ).

Rice export prices increased 2-3 percent due to the strengthening of the Thai baht which offset the downward pressure on domestic rice prices.

Post forecasts MY2022/23 cotton imports to increase 4 percent but remain well below the 5-year average annual import demand from MY2017/18 – MY2021/22 in anticipation of slow economic recovery in 2023.

In 2022, Spain imported $2.1 billion worth of agricultural, seafood and forest products from the United States, up 27 percent compared to the previous year. After high rates of consumer price inflation in 2022, the latest European Union economic forecast shows Spain’s economic growth forecast at 1.4 percent in 2023 and 2.0 percent in 2024.

Post forecasts that MY2023/24 rice production will reach a five-year record of 20.4 million metric tons due to abundant water supplies and attractive farm-gate prices.

Rice export prices decreased 1 percent as new supplies of MY2022/23 off-season rice continued entering the market.