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- (-) April 2023
- (-) Taiwan
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Since the Netherlands lifted all COVID-19 related restrictions at the end of February 2022 and most people returned to the workplace, new opportunities continue to emerge for U.S. agricultural products. Consumers are especially interested in healthier, more convenient, nutritious, and high-quality products.
Taiwan’s soybean imports are forecast at 2.65 MMT for MY2022/2023 and MY2023/2024. In MY 2021/2022, Taiwan imports of soybeans reached a record high of $1.74 billion. To stabilize commodity prices and reduce inflationary pressure for consumers, since February 2022 Taiwan has waived business taxes on imported soybeans, currently set to expire on June 30, 2023.
Taiwan’s domestic wheat production, 4,000 MT in MY2022/2023, is dwarfed by imports at 1.4 MMT for the current MY. Australia is expected to further recover wheat market share from the United States due to competitive pricing and production recovery.
The turnover of the Dutch food processing industry in 2021 (most recent data available) was valued at $83 billion. There are more than 8,000 food processing companies active in the Netherlands and together they account for an estimated 150,000 jobs.