GAIN Reports from September 21, 2023

The following GAIN reports were released on September 21, 2023. _______     Taiwan: Food Service - Hotel Restaurant Institutional Taiwan's HRI industry has fully bounced back with 2022 revenue surpassing pre-pandemic records. The market has a westernized palate with a high per capita GDP of US$33,004, showing that consumers are not only willing but also more than capable of trying foreign cuisines. Notably, exports of U.S. consumer-oriented agricultural products to Taiwan grew 14.65 percent year-on-year. The US continues to be the leading supplier of various food ingredients for the market, such as beef, poultry, and vegetables. However, some countries, including New Zealand, have signed FTAs with Taiwan, thus becoming fierce competition for U.S. exporters.   Venezuela: Exporter Guide This report outlines Venezuela's food and beverage market conditions, which highlights growing opportunities for U.S. food and agricultural exporters to enter and expand in the market. The exemption of imported food products from tariffs since 2018, dollarization of the economy, and trade liberalization has created a more enabling environment for exporters and offers renewed opportunities for a range of U.S. agricultural products. The regrowth of Venezuela's modern retail sector has diminished the role of smaller independent stores (bodegones) that emerged during the economic crisis which exclusively offered imported goods. In 2022, the United States exported USD $741 million in agricultural and related products to Venezuela, a 17 percent increase year-on-year. Still, affordability and fluctuating food price inflation remain critical factors impacting consumer demand and food security. Venezuela's economic downturn in 2023 may limit certain agricultural imports in the near-term.   Vietnam: Retail Promotion Yields Big Results in the northern Vietnam market FAS/Hanoi's successful in-store promotion in July 2023 at the WinMart retail chain highlights growing opportunities to promote U.S. food, beverages and agricultural products in Vietnam. In addition to boosting sales of promoted products by 231 percent over the same time last year, the event generated good media exposure and raised brand and product profiles among consumers.   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 stevenmagallanes520.nims@blogger.com using GovDelivery Communications Cloud on behalf of: USDA Foreign Agricultural Service · 1400 Independence Avenue, SW · Washington, DC 20250