| The following GAIN reports were released on February 28, 2025. _______ Brazil is the second largest beef producing country and the largest beef exporting country in the world. Post expects decreased slaughter in 2025, due to the forecast start of the reversion of the cattle cycle. Producers are likely to begin holding cattle from the market in 2025, driving calf prices upwards. Record beef exports are forecasted for 2025. Domestic consumption is forecasted to decrease, as producers will prioritize exports, driven by strong external demand, devalued local currency, and challenges faced by foreign competitors. The swine industry is expected to increase in both production and slaughter in 2025. As a result, Post forecasts increased pork production, stable domestic consumption, and record exports in 2025. Pulse production has continued to decline over the last few years while the country remains a top importer of dry peas and mung beans. The main pulses produced and consumed are mung beans, dry peas, fava beans, kidney beans, adzuki beans, chickpeas, and lentils. This report provides an overview of Hong Kong's business-to-consumer (B2C) e-commerce market, including details on major e-commerce marketplaces, emerging trends, and market opportunities for U.S. food and beverage products. Hong Kong's e-commerce retail sales reached $4 billion in 2024 and increasingly serve as a valuable tool for direct-to-consumer food and beverage sales. India's 2025 beef production (mostly carabeef) is forecast at 4.64 million metric ton (MMT), up from 4.57 MMT in 2024. The large cattle inventory, Post forecasts at 307.5 million head in 2025, is expected to continue facilitating the increased slaughter and carabeef production. The slight production growth is steered by a continued demand, both for export and domestic consumption. India 2025 carabeef export forecast is at 1.58 MMT, virtually unchanged over 1.56 MMT in 2024. While export to Southeast Asian countries, especially Indonesia, is foreseen to be weak, export growth is expected from the markets of Egypt and Middle eastern countries. The Consumer Affairs Agency (CAA) of Japan announced four sets of proposals. First was revisions on Japan's maximum residue levels for 9 agricultural chemicals (Dimpropyridaz, Fluxametamide, Isofetamid, Polyoxin complex, Pyraziflumid, Thifluzamide, Broflanilide, Dibutyl succinate, and Norgestomet) for various agricultural commodities. Second, the CAA proposed to revise the specifications for mineral water. Third, the CAA proposed revisions of the specifications and standards for apparatus, containers, and packaging. Lastly, the CAA announced a usage and attitude survey on eight existing food additives in a view of delisting from approved list for those not used. Interested U.S. parties should submit their comments to PlantDivision@usda.gov for plant products, TFAA.FAS.AnimalDivision@usda.gov for animal products, and PPTRD@usda.gov for processed products by February 28, 2025 (for the first and second agenda) and March 31, 2025 (for the forth agenda). Favorable pricing and weather conditions for New Zealand cattle farmers have resulted in a retention of finishing cattle on farms and less slaughter in 2024. Farm operations face challenges with continuing financial pressure such as high debt, increasing on-farm inflation, and declining farmgate margins. FAS/Wellington 2025 market year (MY) production forecast is up on the outgoing year, if realized, would be the second highest production in a single year. This is due to forecasts that prime beef from steers and heifers in the first half of 2025 are expected to be up in carcass weight and numbers. For the 2024 MY, beef and veal exports concluded 5 percent less than the previous year. The United States was the largest importer of beef and veal products, at almost 40 percent market share. Exports faced headwinds due to a 29 percent decrease in volumes to China, which was New Zealand's largest market in the prior year. On February 7, 2025, the Sugar Regulatory Administration (SRA) released Sugar Order No. 2 (SO2) authorizing the voluntary purchase of 500,000 metric tons (MT) of raw sugar to avail of an allocation in the government's sugar importation program. This is the second round of SRA's voluntary purchase program for marketing year (MY) 2024-2025. Sugar purchased under this voluntary program will be classified as "reserved" and is eligible for export to the United States under the 2025 WTO Tariff-Rate Quota Allocation for raw cane sugar. For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/. | 
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