Browse Data and Analysis

On October 28, 2022, Tongaat Hullet’s management announced that they opted to go into voluntary business rescue due to the company’s severe levels of financial distress. On Tuesday November 1, Tongaat Hullet missed the deadline to pay R401 million ($22.9 million) for cane delivered by 4,300 growers in September.

On November 9, 2022, The International Trade Administration Commission of South Africa (ITAC) announced the initiation of the sunset review of anti-dumping duties (ADDs) of frozen bone-in portions of poultry from the United States.

The Philippines is a regional biotechnology leader and the first country in the world to approve Golden Rice for commercial propagation. The Bt Eggplant biosafety permit was signed on October 17, 2022, allowing commercial propagation. Planting of Golden Rice has started since its approval in 2021, while Bt corn acceptance has grown with more than 600,000 hectares planted in 2021.

South Africa has robust and experienced regulatory system for genetically engineered products, which started with the publication of the “GMO” Act of 1997. Today, South Africa is amongst the top-10 largest producers of GE crops in the world and has approved 27 GE plant events for commercial production contained in three commodities, namely, corn, soybeans, and cotton. South Africa’s corn yields doubled over the past 20 years, while soybean production improved 10-fold.

FY2022 agricultural exports reach record levels.

Post forecasts that South Africa’s corn area will stay flat in marketing year 2022/23. The current high input cost environment and an upsurge in soybean plantings are deterring any bullish outlook in expanding corn area, despite record high commodity prices and three consecutive bumper crops. Higher farming input costs are escalating the risk of production in a weather-dependent industry.

On October 18, 2022, The Government of the Philippines marked Bt eggplant as its third genetically engineered crop approved for commercial propagation, following Bt corn and Golden Rice.

Prospects for U.S. brewing ingredients remain strong amidst a robust local beer manufacturing industry. Beer is the most widely consumed alcoholic beverage in the Philippines, accounting for 72 percent of total alcohol consumption or 2.1 billion liters annually. Export prospects in the region are especially strong because of the country’s membership in various free trade agreements and its strategic location.