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On October 13, the Consumer Affairs Agency (CAA) opened a public comment period for proposed revisions to the genetically engineered (GE) labeling requirements of the Food Labeling Standards.
Post adjusts the Marketing Year (MY) 2021/22 palm oil production forecast down to 18.2 million metric tons (MT), due to ongoing labor shortages. The MY2021/22 palm oil export estimate is revised to 16 million MT, a drop of 500,000 MT due to the estimated drop in production and resumption of Indonesian palm oil exports. Palm oil prices continue to fall as key buyers, India and China, prefer soybean oil to palm oil.
Post revises the total feed demand forecast down to 26.6 million tons in MY2021/22 as Vietnam continues to face issues with African Swine Fever, inflation, and high feed ingredient costs.