| The following Global Agricultural Information Network (GAIN) reports were released on Monday, March 22, 2021.
Canada: Canada's Carbon Economy and the Impact on Grain and Oilseeds Canadian grain and oilseed producers are closely monitoring several recent developments related to carbon usage that will impact their cost of doing business. These developments include increased fuel taxes; exemptions and rebates on fuel taxes; and the publication of Canada's carbon offset credit regulations. FAS Cairo (Post) forecasts Egypt's wheat production in marketing year (MY) 2021/22 (July – June) to reach 9.0 million metric tons (MMT), up by almost 1.12 percent compared to 8.9 MMT in marketing year 2020/21. FAS Cairo forecasts Egypt's wheat imports in MY 2021/22 (July – June) at 13.2 MMT, up by 1.53 percent from MY 2020/21 Post's import estimate figure of 13.0 MMT. FAS Cairo forecasts Egypt's corn imports in MY 2021/22 (Oct – Sept) at 10.3 MMT, similar to Post's MY 2020/21 estimate. FAS Cairo forecasts Egypt's rice imports in MY 2021/22 at 300,000 MT. Except for wheat, MY 2021/22 Iraq grain production is expected to fall on reduced planned planted area as early intermittent rainfall puts a strain on limited water resources. MY 2020/21 surplus production of barley led the Iraqi government to announce plans for exporting large volumes of this crop, however this has been put on hold for the time being. Water availability in summer 2021 may jeopardize the production of rice and corn. Iraq's financial crisis resulting from the decline of the international oil prices and the devaluation of the Iraqi Dinar will negatively impact its to support to farmers, but the consumption of grain and feed is expected to rise as a result of population growth. The crisis has also encouraged more investment in the agriculture sector compared to other sectors which have weakened during this time.
With over 1,800 facilities, the Israeli food processing sector is an important player in the domestic economy. In 2019, Israeli food processors' annual revenue stood at $18.6 billion while the beverage and tobacco industry's annual revenue was $2.47 billion. The sector currently represents over 17.5 percent of the total manufacturing industry's revenue and employs over 63,000 workers. With limited land and resources, as well as a growing population, the ingredients demanded by the Israeli food processing sector represent an excellent opportunity for U.S. exporters of food ingredients. In 2020, Israel imported $2.91 billion in raw food products for the food processing industry. The COVID-19 pandemic has shaken the Israeli economy and it is unclear how quickly it will recover. According to Israel's Central Bank, Israel's real GDP contracted by 2.4 percent in 2020, less severe than had been previously forecasted.
The Ministry of Agriculture, Forestry and Fisheries (MAFF) set Japan's 2021 recommended table rice production at 6.93 million metric tons (brown rice basis), a 300,000 ton reduction from 2020 and the first time the MAFF has set this number below 7 million tons. To accelerate the production shift from table rice to other crops MAFF increased support payments for producers that convert acres to vegetables, wheat, soybeans, rice for feed, or rice for export. Local governments across Japan are highlighting potential revenue increases for converting rice paddy production to supported crops.
As of January 1, 2021, retail outlets with the highest sales by volume are required to pay additional taxes in Poland. While the Retail Sales Tax Act technically entered into force on September 1, 2016, no taxes were collected prior to 2021 following questions from the European Commission (EC) about the tax's legality. While the EC continues to question the validity of the Polish tax, the Government of Poland (GOP) nonetheless proceeded to enforce the tax on January 1, 2021 as a means to raise additional revenue.
On December 29, 2020 Korea issued its annual list of adjustment tariffs and voluntary tariff rate quotas (TRQs) for certain agricultural, forestry and fishery products, effective through calendar year 2021. Korea's 2021 tariff adjustments were relatively unchanged from the previous year; however, expanded TRQ's for a handful of agricultural commodities will increase opportunities for U.S. agricultural exports, particularly in feed grains and food ingredients.
For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/.
|
Tuesday, March 23, 2021
GAIN Reports from Monday, March 22, 2021
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment