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The report contains a provisional translation of the draft Notification 3.0 under the Sophisticated Act that proposes Japan's new transport biofuel standards from April 1, 2023. The draft notification is open for public comment until March 2, 2023.

From September 24 to October 16, 2022, FAS New Delhi (Post) organized a nationwide “Taste of America Fusion Food” campaign at “Social,” (Social Ltd.) a chain of contemporary bistro restaurants. The three-week Taste of America promotion, held in eight, Social Ltd. outlets across five cities, highlighted the versatility, flavor, and wholesomeness of select U.S. food ingredients that can be utilized in India’s rapidly growing restaurant industry.

On February 8, 2023, the Ministry of Health and Family Welfare/Food Safety and Standards Authority of India (FSSAI) notified on its website the Corrigendum 12014/01/2020-QA (January 19, 2022). This corrigendum modifies the earlier FSSAI Order No. 12014/01/2020-QA (November 3, 2021).

On February 1, 2023, India’s Ministry of Finance, Department of Revenue issued Notification No. 02/2023-Customs in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i) (official gazette), whereby it sets the import duty tariff rate for pecans, HS code 0802.9900, at 30 percent, effective April 1, 2023.

On February 1, 2023, the Ministry of Finance, Government of India presented its annual Union Budget to the Lok Sabha (lower parliament house) for Indian fiscal year 2023/2024 (April 1-March 31). In its Finance Bill, 2023 (No. 02/2023-Customs), the Finance Ministry announced changes in customs and central excise duty rates for various commodities, including pecans.

This is a biweekly report outlining the prices of agricultural commodities in Bangladesh, as well as major trade and policy updates.

India’s upcoming rabi (winter sown, spring harvested) crop acreages has been boosted to record levels on adequate 2022 monsoon rains in October and generally favorable weather conditions.

Japan has a well-developed food retail market that demands high-quality, high-value agricultural and food products. Despite reduced economic activity during the COVID-19 pandemic, trade data show that agricultural imports have remained resilient.

Due to the recent ban on genetically engineered (GE) commodity imports, the 2022/23 soybean import forecast is reduced from 2.5 to 1.2 million tons. With the lower expected soybean imports, 2022/23 crush and soybean meal output is reduced accordingly.

On November 30, 2022, Sri Lanka’s Minister of Finance, Economic Stabilization and National Policies issued a Customs Notification, imposing a levy on 15 food and agricultural products (HS) headings.

Japan’s Ministry of Health, Labour and Welfare (MHLW) proposed revisions to Japan’s maximum residue levels for 9 agricultural chemicals (Iprodione, Metobromuron, Paraquat dichloride (Paraquat), Pyridachlometyl, Isoprothiolane, Diminazene, Dipropyl isocinchomeronate, Mafoprazine, and Pyrimethamine) for various agricultural commodities.

Japan’s Ministry of Economy, Trade and Industry (METI) published a draft notification for biofuel standards from Japanese fiscal year 2023 through 2027.