On April 30, the State Administration for Market Regulation (SAMR) released an announcement on the Technical Requirements for Health Food Product Filing with Ginseng, American Ginseng, and Ganoderma Lucidum as Ingredients. These requirements, which took effect on May 1, 2024, provide the technical requirements for excipients, dosage forms, and production processes that can be used for the three materials during product filing. They also clarify that product quality and safety index requirements such as contaminants indicators must comply with relevant national food safety standards. This report contains an unofficial translation of these requirements.
Post revises production estimates for MY 2023/24 down to 18.8 million tons accounting for hot and dry El NiΓ±o weather effects and limitations regarding labor. Top importing countries continue to drive demand and stocks drop to 1.83 million tons for MY 2023/24.
New Zealand continues to be an important market for U.S. agricultural products. In 2023, New Zealand's imports of U.S. agricultural products returned to the previous year's value of US$ 520 million. Despite its relatively small population, the country is already a top market for several U.S. exports, including soybean meal, dairy ingredients like lactose and whey, fresh fruit such as grapes, and distiller's dried grains. New Zealand is also a key market for consumer-oriented products, including grocery products. Overall, New Zealand continues to present opportunities for U.S. exporters.
This report lists the major export certificates and other documentation required by the Government of New Zealand for U.S. exporters and food and agricultural products. New Zealand's import requirements for food and agricultural products are complex and change frequently. Therefore, this report focuses on the certificate requirements for U.S. products with the strongest export potential. Section updated, Section I.
On June 20, 2024, President Ferdinand Marcos Jr. issued Executive Order No. 62 (EO 62) modifying the import duty rates of various commodities. EO 62 provides a multi-year comprehensive tariff schedule and applies to commodities subject to the Most Favored Nation (MFN) rates. Tariff rates on agricultural/food commodities remain the same except for rice, which declined to 15 percent from 35 percent.
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