Browse Data and Analysis

With Brazil continuing to produce record corn crops, Post forecasts corn production for MY 2023/24 at 131 MMT, up 1.6 percent from the current season. However, falling profit margins and ongoing infrastructure and logistics hurdles may impact the next harvest’s outcome.

The People’s Republic of China (PRC) is the second largest seed market in the world, behind the United States and annually plants 12 million metric tons (MMT) of seed, with a market value of U.S. $19 billion.

According to information published by the United Nations Joint Coordination Centre, as of June 20, 2023, approximately one-quarter of all grain and oilseed volumes shipped under the Black Sea Grain Initiative (BSGI) were destined for the People’s Republic of China (PRC); making it the single largest recipient of food and feed commodities.

The Brazilian economy grew by 2.9 percent, largely supported by household consumption, which advanced 4.3 percent in the year despite inflation challenges. The labor market recovery continued as unemployment dropped to 7.9 percent by December 2022.

On June 2, 2023, the People’s Republic of China (PRC) notified National Food Safety Standard Milk Powder and Modified Milk Powder to the World Trade Organization (WTO) under G/SPS/N/CHN/1160/Add.1.

On March 15, 2012, the People’s Republic of China (PRC) National Health Commission released National Food Safety Standard for Use of Nutritional Fortification Substances in Foods (GB14880-2012), which entered into force on January 1, 2013.

Post forecasts the Brazilian coffee production for Marketing Year 2023/24 (July-June) at 66.4 million 60-kg bags, an increase of 3.8 million bags compared to the previous crop. Post forecasts arabica production at 44.7 million bags, an increase of 12 percent from the previous season due to favorable weather conditions in growing regions.

On March 15, 2022, the People’s Republic of China (PRC) State Administration for Market Regulation and National Standardization Committee released National Food Safety Standard for Drinking Water Quality (GB5749-2022), which entered into force on April 1, 2023.

On May 30, 2023, the State Council Tariff Commission (SCTC) announced another extension to Section 301 retaliatory tariff exclusions on 12 agricultural products, including shrimp for cultivation, whey for feed, fishmeal for feed, alfalfa and seven hardwood products through December 31, 2023.

On June 2, 2023, China notified to the World Trade Organization (WTO) under G/SPS/N/CHN/1278/Add.1 the amended Entry and Exit Inspection and Quarantine Phytosanitary Certificate for Re-Export of China.

On June 1, 2009, the People’s Republic of China (PRC) released National Food Safety Standard for Hazard Analysis and Critical Control Point (HACCP) System for General Requirements for Food Production Enterprises (GB/T 27341-2009), which entered into force on February 17, 2009.

The General Administration of Customs of China (GACC) has alerted importers that certain overseas facilities should “complete” their registration by June 30, 2023. Facilities seeking to minimize potential trade disruptions should upload relevant information into CIFER by June 23, 2023.