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- (-) March 2023
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In 2022, the Government of Ecuador continued to support floor prices for local production of corn, rice, and wheat as well as began subsidizing the price of fertilizers for small producers.
The Korea oilseeds and products market is mature with limited annual change, reflecting stable consumer demand and stagnant domestic production.
Ecuador’s National Customs Service (SENAE) announced on February 2, 2023, that Distiller’s Dried Grains with Solubles (DDGS) will no longer be subject to a 12 percent value added tax.
Despite continued economic constraints, U.S. – Ecuador bilateral agricultural and related product trade rose to $4.5 billion in 2022. In addition, U.S. agricultural and related product exports to Ecuador reached a record $741 million.