USDA, Foreign Agricultural Service,update

Trade Mission to South Korea Results in $67 Million in Projected Sales as USDA Works to Diversify Export Opportunities for American Agriculture A recent USDA-sponsored agribusiness trade mission to the Republic of Korea (South Korea) proved to be a tremendous success for nearly 50 U.S. agribusinesses, cooperators, trade associations, and state departments of agriculture looking to grow and diversify U.S. exports to East Asia.  Recapping the successes of the trade mission, USDA’s Under Secretary for Trade and Foreign Agricultural Affairs Alexis M. Taylor said, "During the trade mission to South Korea, U.S. exporters conducted more than 600 meetings with potential importers as they look to expand the variety of American products available to Korean consumers. As a result of those productive meetings, U.S. companies reported $67 million in projected 12-month sales to South Korea." Under Secretary Taylor further explained that when it comes to U.S. food and agricultural imports, South Korea is a powerhouse buyer. It ranks as the United States’ fifth largest single-country export market. Just last year, exports of U.S. agricultural and ag-related products to South Korea totaled a little more than $8 billion. Please click here to read more>> USDA Accepting Applications for FY 2025 Export Programs The U.S. Department of Agriculture’s Foreign Agricultural Service is accepting applications from eligible organizations for fiscal year 2025 funding for five export market development programs. FAS recently published the FY 2025 Notices of Funding Opportunity for the Market Access Program, Foreign Market Development Program, Technical Assistance for Specialty Crops Program, Quality Samples Program and Emerging Markets Program. The application deadline for the five programs is June 14, 2024. Background Under the Market Access Program, USDA provides competitive, cost-share assistance to U.S. exporters and agricultural, fish, and forest product trade organizations for international marketing and promotion of U.S. commodities and products. More information about the program and the FY 2025 funding opportunity is available at:  https://www.fas.usda.gov/programs/market-access-program-map.  Under the Foreign Market Development Program, USDA partners with nonprofit agricultural and forest product trade associations to build longer-term international demand for U.S. commodities. More information about the program and the FY 2025 funding opportunity is available at: https://www.fas.usda.gov/programs/foreign-market-development-program-fmd. The Technical Assistance for Specialty Crops Program funds projects that address sanitary, phytosanitary, and technical barriers that prohibit or threaten the export of U.S. specialty crops. More information about the program and the FY 2025 funding opportunity is available at: https://www.fas.usda.gov/programs/technical-assistance-specialty-crops-tasc. The Quality Samples Program helps agricultural trade organizations provide small samples of their products to potential importers. More information about the program and the FY 2025 funding opportunity is available at: https://www.fas.usda.gov/programs/quality-samples-program-qsp. The Emerging Markets Program supports technical assistance activities for the development of emerging markets for U.S. agricultural, fish, and forest products. More information about the program and the FY 2025 funding opportunity is available at: https://www.fas.usda.gov/programs/emerging-markets-program-emp. ### USDA is an equal opportunity provider, employer, and lender. The following GAIN reports were released on April 3, 2024. _______   China: Food Processing Ingredients Annual In 2023, the United States remained the fourth largest exporter of consumer-oriented products to China, with demand for U.S. food processing ingredients, such as tree nuts, dried peas, dried fruit, ginseng, hops, and surimi, experiencing significant growth. Consumers’ growing appetite for healthier and premium food will continue to encourage the expansion and development of China’s domestic food processing industry. Demand for convenient pre-cooked foods is also increasing with sales channels diversifying due to shifts in consumer habits and consumption patterns. France: Food Processing Ingredients Annual The French food processing industry mobilizes more than 19,000 companies, of which nearly 98 percent are small and medium sized enterprises (SMEs). The sector generates $230 billion in annual revenue, and it indirectly contributes to nearly 2 million jobs in France. The French agri-food industry has significant political and economic influence. However, while market demand for processed food remains strong, the French industry continues to face challenges with the rising costs of “made in France.” Greece: Cotton and Products Annual Greece’s MY 2023/24 cotton production is estimated at 970,000 bales, down 33 percent from the previous season due to significant rainstorms which caused widespread flooding in Central Greece in early September 2023. In MY 2024/25 cotton acreage is forecasted to decrease further to approximately 200,000 hectares based on the assumption that farmers will choose to plant less cotton in response to decreasing cotton prices. Yields are expected to be higher. Production is forecasted at 1.1 million bales. Greece is a major cotton exporter. Turkey was the main destination in MY 2022/23, representing 48 percent of total exports. India: Wine Labeling Update 2024 - Addendum This GAIN-INDIA report is an addendum to FAS India's (New Delhi, Mumbai) (Post) GAIN-INDIA | IN2024-0012 | India’s Wine Product Labeling Requirements – Update 2024. Post sought out additional regulatory review, and has obtained a revised confirmation from the Food Safety and Standards Authority of India (FSSAI) that its Food Safety and Standards (Labeling and Display) Regulations now do not require an expiry date for wine products. All other information found in the GAIN-INDIA | IN2024-0012 | report remains the same and in effect. Indonesia: Cotton and Products Annual The global economic slowdown and illegal imports of cheaper textile products continue to hinder the growth of the Indonesian textile and textile products industry in 2023/24. To assist the struggling sector, the Government of Indonesia (GOI) is implementing new textile import restrictions that also limit the number of certain items in the luggage content of travelers. The enforcement of the regulation is expected to improve spinning mill utilization and increase 2023/24 cotton consumption. Indonesia: Food Processing Ingredients Annual Indonesia offers significant opportunities for U.S. ingredient suppliers to meet the demand for raw materials for its food processing industry. The United States is the third largest agricultural supplier to Indonesia, with an 11-percent market share. Soybeans and dairy products made up about half of all U.S. agricultural products shipped to Indonesia in 2023. Other top U.S. agricultural product exports to Indonesia in 2023 included feeds and fodders, cotton, corn, wheat, fresh fruits, and beef and beef products. Halal certification will become mandatory for many foods/ingredients/additives and for all processed food products starting on October 17, 2024. Japan: Food Processing Ingredients Annual This report highlights Japan’s food processing industry, notable trends, and a market snapshot of western Japan. The industry experienced a 4.1 percent decline in the value of food produced in 2023 from 2022 on a dollar basis totaling $182 billion compared to $190 billion in 2022. Production increases were seen in wheat flour, dairy, processed meats, and sugar categories. Japan: Oilseeds and Products Annual In relation to persistent rising food prices, Japan has seen a decline in overall vegetable oil consumption. Due to the more favorable crush margin for canola compared to soybeans, FAS/Tokyo forecasts a reduction in soybean imports and crush, while seeing an increase in rapeseed imports and crush for both MY 2023/24 and MY 2024/25. Consequently, Japan is expected to decrease domestic soybean meal production, leading to an increase in soybean meal imports. The elevated price of North American identity-preserved, food-grade soybeans coupled with the Japanese yen depreciation has weakened their price competitiveness versus domestically produced ones. This pricing shift is causing Japanese farmers to consider planting more soybeans. Nicaragua: Oilseeds and Products Annual FAS/Managua projects marketing year 2024/25 peanut production to rebound to a record high of 230,000 metric tons on sustained high area planted and improved growing conditions following a damaging El Niño cycle in 2023/24. Higher than average temperatures and extended periods without precipitation during key periods of seed development drove a 12 percent decline in yields and a projected increase in the volume of lower quality peanuts bound for crushing in marketing year 2023/24. Current projections for a neutral or La Niña weather cycle (associated with cooler temperatures) arriving later in 2024 would significantly benefit Nicaraguan peanut quality and production volume in marketing year 2024/25. Turkiye: Food Processing Ingredients Annual Turkiye’s food and beverage sector depends on domestic and imported ingredients, a large portion of which are sourced from Europe. European ingredients enjoy zero or low import duties under preferential trade agreements, as well as lower freight costs. The sector, which boasts nearly 60,000 businesses, continues to grow in response to steady consumer demand for processed food products. Continued high inflation and the devaluation of the Turkish lira (TL) in 2023 resulted in important changes in consumer purchasing behavior in Turkiye. There is a noticeable shift from branded products to economy priced or private label. Ukraine: Oilseeds and Products Annual For marketing year (MY) 2024/25, Ukrainian farmers are forecast to increase area under all the major oilseeds except for sunflowers. However, regarding production volumes, this increase might be somewhat dampened by lower yields compared to the high levels of MY2023/24. The crush industry is back on track to crushing almost all available sunflower seeds in the country, yet low oil and meal prices depress their margins. The EU became the primary market for Ukrainian oilseeds, oils, and meals due to the temporary suspension of import duties and quotas by the EU, and this trend is expected to continue in MY 2024/25. Ukraine can currently export oilseeds directly to its traditional overseas destinations cost-efficiently from some of its ports after regaining control over export routes in the Black Sea. United Arab Emirates: Food Processing Ingredients Annual The UAE's food processing sector is thriving, driven by robust economic growth and domestic consumption. With 568 predominantly small- and medium-sized food and beverage processors, the UAE hosts over 2,000 food and beverage manufacturing companies that generate $7.63 billion in annual revenue. While primarily catering to local demand, these firms also aim to meet regional and global needs. Limited local production means that they rely heavily on imported ingredients, presenting a significant opportunity for U.S. companies to tap into this expanding sector.   For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/. This email was sent to politikimx@gmail.com using GovDelivery Communications Cloud on behalf of: USDA Foreign Agricultural Service · 1400 Independence Avenue, SW · Washington, DC 20250