According to Australian law, the excise duty rates levied on alcohol are subject to biannual indexation, with adjustments made in accordance with the upward trajectory of the Consumer Price Index (CPI). The indexation occurs on February 1 and August 1 each year. The Australian distilling industry is urging a two-year freeze on excise indexation for spirits and a comprehensive review of excise policies to encourage further industry investment.
On December 17, 2024, the Dominican Republic issued Decree 693-24, to limit rice imports into the country. The Decree establishes a quota of 23,300 metric tons (MT) for U.S. rice, subject to a 0 percent ad valorem tariff. Imports of U.S. rice exceeding that quota may use the WTO quota of 17,810 MT subject to a 20% ad valorem tariff. Outside of these two quotas, U.S. rice will face a 99 percent tariff. These restrictions appear inconsistent with the duty-free and unlimited access U.S. rice was set to enjoy in the Dominican Republic beginning January 1, 2025, under the Dominican Republic-Central American Free Trade Agreement (CAFTA-DR). The Decree is grounded in Law 75-24, which grants the Dominican Government's National Council for Food Sovereignty and Nutritional Security (CONASSAN) authority to regulate imports of "sensitive products" for national security purposes.
On January 14, 2025, the Panamanian Food Agency (APA) and the Ministry of Health of Panama confirmed that the dairy plants registration process has been significantly expedited, resolving a trade barrier created on July 17, 2023. The new streamlined approach has reduced the estimated time to complete the process to a maximum of 2 days.
FAS Bangkok forecasts an increase in Thailand's rice and corn production in MY 2024/25 due to acreage expansion and average yield improvement. Rice exports in 2024 are expected to reach 9.2 million metric tons, up 5 percent from 2023. However, MY 2024/25 wheat imports are likely to decline due to high inventories and the anticipated recovery of corn production.
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