GAIN Reports from March 20, 2023

The following GAIN reports were released on March 20, 2023. _______     China: China Releases the Standard for Maximum Levels of Contaminants in Foods On June 30, 2022, the National Health Commission (NHC) and the State Administration of Market Regulation (SAMR) released the National Food Safety Standard for Maximum Levels of Contaminants in Foods (GB 2762-2022), which will enter into force on June 30, 2023. This standard updates the 2017 regulation of the same name, published as GB 2762-2017. FAS published a translation of GB 2762-2017 on May 9, 2018 (see GAIN report CH18025). This report contains an unofficial translation of the final standard. Changes from the previous version of the standard are marked in red.   China: Oilseeds and Products Annual Modest growth in the animal protein sector is expected to raise China's soybean imports to 97 million metric tons (MMT) in Marketing Year (MY) 23/24. The People's Republic of China's (PRC) removal of COVID-related restriction in December 2022 is expected to boost overall oilseed consumption. However, relatively high prices for soybean meal (SBM) and low returns in the swine and poultry sector continue to disadvantage SBM inclusion in feed. Following a significant increase in soybean area and production in MY 22/23, PRC polices supporting soybeans are expected to continue, yielding an additional 400,000 metric tons (MT) of production in MY 23/24.   Colombia: Grain and Feed Annual In marketing year (MY) 2023/24, Colombia's corn and rice production are forecast to marginally increase driven by higher domestic prices and expected normalized weather conditions. However, high production costs continue to be a challenge for Colombian producers. Colombia's economy is projected to grow at a slower pace in 2023 and 2024, restricting a more substantial growth in demand for grains. Although the United States continues to be the main sourcing option for Colombian importers of corn and rice given trade preferences under the U.S.-Colombia Trade Promotion Agreement and geographical advantages, increasing regional competition, especially from Brazilian corn, is likely to restrict major growth to U.S. exports. In MY 2023/24, wheat imports are forecast to slightly increase to respond to higher consumption.   Indonesia: Oilseeds and Products Annual Indonesia palm oil production for 2023/24 is forecast at 46 million metric tons (MMT), an increase of 3 percent from the previous year. Weather agencies are forecasting a developing El Nino weather pattern in the second half of 2023 that might bring on severe dryness. Soybean imports are expected to rise to 2.65 MMT for 2023/24 on continued rising demand from the soy-based food industry.   Peru: Cotton Update Cotton production in Peru is estimated to reach 16,000 MT in CY 2023, increasing 8 percent compared to the previous year. Cotton imports into Peru are expected to reach 68,000 MT in CY 2023, a 13-percent increase compared to 2022. Almost all Peruvian imports of cotton (99.6 percent) are sourced from the United States. Cotton exports led U.S. agricultural exports in CY 2022, totaling $203 million.     For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/. Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by USDA Foreign Agricultural Service. This email was sent to using GovDelivery Communications Cloud on behalf of: USDA Foreign Agricultural Service · 1400 Independence Avenue, SW · Washington, DC 20250