The following Global Agricultural Information Network (GAIN) reports were released on Tuesday, April 13, 2021.
Sugar production in marketing year (MY) 21 is estimated at 815,000 metric tons (MT), while production for MY20 has increased to 809,000 MT. Improving international prices have eased the financial pressure exerted by the Covid-19 pandemic on the sugar sector.
Indonesia: Grain and Feed Annual Larger harvested area and improved economic conditions are expected to increase corn production in 2021/22 to 12.0 million tons. Higher poultry consumption and comparatively lower prices for local corn are expected to increase corn consumption for feed production and lower demand for imported wheat in the feed sector. The Government of Indonesia (GOI) has announced intentions to import 1 million tons of rice in 2021 to maintain sufficient stock levels and stable prices.
Paraguay: Grain and Feed Annual In marketing year 2020/21, wheat production is forecast up to 1.2 million tons with projected exports of 500,000 tons. Corn production is projected at 3.9 million tons on slightly higher planted acreage with exports up marginally to 2.25 million tons. A record rice production is forecast at 1.2 million tons rough base on increased planted acreage with exports forecast up at 650,000 tons milled base.
Philippines: Oilseeds and Products Annual The Philippines is the largest market for U.S. soybean meal (SBM) and the world's top coconut oil (CNO) exporter. The country is also a major palm oil market for neighboring ASEAN countries. The continued spread of African Swine Fever (ASF), combined with the economic downturn from COVID-19, will lead to a decline in overall meat demand and consequently feed consumption in MY 21/22. As a result, SBM imports for MY20/21 are lowered 5 percent to 2.75 million MT from the previous year, while MY21/22 imports are forecast to remain flat. CNO production in MY21/22 is expected to grow nearly 5 percent from the previous year, boosted by favorable rains in 2020. Exports of CNO during the same period, however, are likely to decline by over 5 percent due to logistical challenges from COVID-19. The Philippine Coconut Authority's recommended increase to the biodiesel blend mandate from 2 to 3 percent remains pending; if approved, it would boost CNO industrial consumption.
Paraguay: Oilseeds and Products Annual 2021/2022 Paraguayan soybean production is projected at 10.5 million tons as a return to normal climatic conditions allow for increased second-crop soybean planting. Exports are forecast at 6.5 million tons. 2020/2021 soybean production is lowered to 9.9 million tons as a delayed harvest prevented farmers from planting second-crop soybeans. Crush is reduced to 3.3 million tons as plants received soybeans late and will have fewer operating days in the marketing year. Exports are forecast up at 6.75 million tons due to lowered crush volume.
Singapore's highly import dependent, multi-billion-dollar food industry is driven by robust consumer spending, high disposable incomes, and intense urbanization. The country's trade and regulatory policies are focused on ensuring consistent foreign supply of high-quality food and agricultural products. Singapore's total agricultural and related product imports in 2020 reached $15 billion USD, with the United States capturing roughly ten percent market share. Top prospective U.S. food and beverage products for the Singaporean market include fresh fruit, beef and poultry products, pork and pork products, dairy products, seafood, processed fruit, and tree nuts.
For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/.
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Wednesday, April 14, 2021
GAIN Reports from Tuesday, April 13, 2021
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