ISSN0251-1959FoodOutlookBIANNUALREPORTONGLOBALFOODMARKETSFAOFoodPriceIndex2014-2016=100160202214020231202021202010080JFMAMJJASONDNovember2023FoodOutlookBIANNUALREPORTONGLOBALFOODMARKETSFoodandAgricultureOrganizationoftheUnitedNationsRome,2023Requiredcitation:FAO.2023.FoodOutlook–Biannualreportonglobalfoodmarkets.FoodOutlook,November2023.Rome.https://doi.org/10.4060/cc8589enThedesignationsemployedandthepresentationofmaterialinthisinformationproductdonotimplytheexpressionofanyopinionwhatsoeveronthepartoftheFoodandAgricultureOrganizationoftheUnitedNations(FAO)concerningthelegalordevelopmentstatusofanycountry,territory,cityorareaorofitsauthorities,orconcerningthedelimitationofitsfrontiersorboundaries.Thementionofspecificcompaniesorproductsofmanufacturers,whetherornotthesehavebeenpatented,doesnotimplythatthesehavebeenendorsedorrecommendedbyFAOinpreferencetoothersofasimilarnaturethatarenotmentioned.Theviewsexpressedinthisinformationproductarethoseoftheauthor(s)anddonotnecessarilyreflecttheviewsorpoliciesofFAO.ISSN0251-1959[print]ISSN1560-8182[online]ISBN978-92-5-138359-9©FAO,2023Somerightsreserved.ThisworkismadeavailableundertheCreativeCommonsAttribution-NonCommercial-ShareAlike3.0IGOlicence(CCBY-NC-SA3.0IGO;https://creativecommons.org/licenses/by-nc-sa/3.0/igo/legalcode).Underthetermsofthislicence,thisworkmaybecopied,redistributedandadaptedfornon-commercialpurposes,providedthattheworkisappropriatelycited.Inanyuseofthiswork,thereshouldbenosuggestionthatFAOendorsesanyspecificorganization,productsorservices.TheuseoftheFAOlogoisnotpermitted.Iftheworkisadapted,thenitmustbelicensedunderthesameorequivalentCreativeCommonslicence.Ifatranslationofthisworkiscreated,itmustincludethefollowingdisclaimeralongwiththerequiredcitation:“ThistranslationwasnotcreatedbytheFoodandAgricultureOrganizationoftheUnitedNations(FAO).FAOisnotresponsibleforthecontentoraccuracyofthistranslation.Theoriginal[Language]editionshallbetheauthoritativeedition.”DisputesarisingunderthelicencethatcannotbesettledamicablywillberesolvedbymediationandarbitrationasdescribedinArticle8ofthelicenceexceptasotherwiseprovidedherein.TheapplicablemediationruleswillbethemediationrulesoftheWorldIntellectualPropertyOrganizationhttp://www.wipo.int/amc/en/mediation/rulesandanyarbitrationwillbeconductedinaccordancewiththeArbitrationRulesoftheUnitedNationsCommissiononInternationalTradeLaw(UNCITRAL).Third-partymaterials.Userswishingtoreusematerialfromthisworkthatisattributedtoathirdparty,suchastables,figuresorimages,areresponsiblefordeterminingwhetherpermissionisneededforthatreuseandforobtainingpermissionfromthecopyrightholder.Theriskofclaimsresultingfrominfringementofanythird-party-ownedcomponentintheworkrestssolelywiththeuser.Sales,rightsandlicensing.FAOinformationproductsareavailableontheFAOwebsite(www.fao.org/publications)andcanbepurchasedthroughpublications-sales@fao.org.Requestsforcommercialuseshouldbesubmittedvia:www.fao.org/contact-us/licence-request.Queriesregardingrightsandlicensingshouldbesubmittedto:copyright@fao.org.Photocredits(lefttoright/toptobottom):©PEXELS;©iStock;©AllFreeDownload;©FAO;©iStock;©Freepik;©AllFreeDownload;©Shutterstock;©Shutterstock;©AllFreeDownload;©PEXELS;©iStock;©iStock;©iStock;©PEXELS;©ShutterstockHIGHLIGHTSFAO’slatestforecastspointtofavourableWHEATCOARSEGRAINSproductionoutlooksacrossmostbasicfoodstuffs.However,globalfoodDespiteananticipateddeclineinglobalwheatGlobalcoarsegrainsuppliesareproductionsystemsremainvulnerabletorisksproductionin2023,globalsuppliesareexpectedforecasttoreboundin2023/24,largelyfromextremeweatherevents,risinggeopoliticaltoremainatacomfortablelevelin2023/24stemmingfromanexpectedrecordtensionsandpolicychanges,potentiallytippingowingtolargecarryoverstocks.Globalwheatmaizeproduction.Highersuppliesthedelicatedemand-supplybalancesandtradeispredictedtocontract,reflectingashouldsupportanincreaseinglobaldampeningprospectsforinternationaltradeweakerglobalimportdemand,thewar-relatedutilizationandstocks,whileworldtradeinfoodcommoditiesandglobalfoodsecurity.disruptionsinUkraineandtighteningsuppliesinincoarsegrainsmaydecline.somemajorexportingcountries.RICEMEATSUGARAlthoughcurrentprospectsfor2023/24WorldmeatproductionisforecasttoWorldproductionofsugarisforecastpointtoalikelyrecoveryinworldriceexpandin2023,albeitslowly,drivenbyatodeclinein2023/24,afterincreasingproductionandstocks,highlevelsgreatersupplyofanimalsforslaughteramidfortwoconsecutiveseasons,andfallofinternationalanddomesticricefavourableproductionconditionsinsomeshortofglobalconsumption.Worldprices,againstthebackdropofanleadingproducingregions.Meanwhile,tradeinsugarispredictedtocontractintensificationofriceexportrestrictions,internationaltradeinmeatisseenheadingslightlybecauseofexpectedreduceddampenexpectationsofadiscernibletowardsacontractionashighinflation,availabilitiesinkeyexportingcountries.revivalinworldriceutilizationandtrade.sluggisheconomicgrowthandaccumulatedstockslowerimportdemand.OILCROPSDAIRYFISHERIESPreliminaryforecastsfor2023/24pointWorldmilkproductionisforecasttoexpandGrowthinfisheriesandaquaculturetocontinuedproductionexpansionin2023ataslightlyhigherpacethaninproductionisforecasttostagnatein2023,foroilseedsandderivedproducts.thepreviousyear,reflectinganexpectedincreasingonlymarginallyover2022Whiletheworldconsumptionofoils/productiongrowthinAsia.Meanwhile,levels.Ahighrateofglobalinflationandfatsisexpectedtomarginallyexceedrisingdomesticproduction,increasedstockastrongUnitedStatesofAmericadollarglobaloutput,resultinginaslightlevelsandeconomicchallengesinkeyhavedampenedconsumerdemand,stockdrawdownfortheproduct,worldimportingcountriescouldleadtoaslightwhiletheimpactofthecurrentElNiñooilmealcarryoverinventoriesareforecastcontractioninglobaldairytrade.weathereventisbeingkeenlyfelt,withtoreachafour-yearhigh.reducedsupplyofcertainspecies.MARKETINDICATORSOceanFreightsFoodimportbillDrybulkfreightcostsacrossthegrainsandoilseedsroutesTheglobalfoodimportbill(FIB)isforecasttoreachanewmostlyedgedhigherduringthesixmonthstoOctober2023buthighofUSD2trillionin2023.High-incomeandupper-middle-remainedwellbelowlastyear’slevels.Whiletheterminationofincomecountriesareexpectedtoleadthisincrease,whichwilltheBlackSeaGrainInitiativecontributedtoweaknessduringthelikelybelesspronouncedthaninpreviousyears.Analysisofthesummerperiod,freightrateshavereboundedmorerecently,withfoodcomponentoftheCPIforasampleofnet-foodimportingrobustdemandforbulkdispatchesfromsomeleadingshippingdevelopingcountriesandhigh-incomecountriesindicatesaoriginsdespiteweather-relatedlogisticalchallenges.generalfoodpricedecelerationin2023.ContentsMARKETSATAGLANCE1−9FAOFoodPriceIndexp88Wheat..................................................................................12014-2016=100160Coarsegrains.......................................................................22022Rice.......................................................................................3140Oilcrops,oilsandmeals......................................................4Sugar....................................................................................5Meatandmeatproducts....................................................612020232021Milkandmilkproducts.......................................................72020Fishandfisheryproducts....................................................8100MAJORPOLICYDEVELOPMENTS10−3780JFMAMJJASONDGrains.................................................................................11Rice.....................................................................................19Oilcrops..............................................................................26Meat...................................................................................32Dairy...................................................................................35STATISTICALTABLES38-75MARKETINDICATORS76−95Futures...............................................................................77Oceanfreightrates...........................................................80Foodimportbill.................................................................83TheFAOpriceindices........................................................88FoodOutlookispublishedtwiceayear,normallyinJuneandNovember.TheJunereportcontainsamoredetailedmarketanalysiswhiletheNovemberreportonlyprovidessummarymarketassessments(Marketsataglance).ACKNOWLEDGEMENTSTheFoodOutlookreportisaproductoftheFAOMarketsandTradeDivisionoftheEconomicandSocialDevelopmentstream.ThisreportwaspreparedundertheoverallguidanceofBoubakerBen-Belhassen,DirectorandUpaliW.GalketiAratchilage,SeniorEconomist.Marketsummarieswerewrittenbyateamofeconomists,whosenamesappearundertheirrespectivecontributions.AcontributionbytheInternationalGrainsCouncilonoceanfreightratesforthemarketindicatorssectionisalsogratefullyacknowledged.Thereportbenefitedfromresearchsupportfrommanystaff,namely,DavidBedford,HaroutDekermendjian,AnnamariaGiusti,LaviniaLucarelli,EmanueleMarocco,EmanueleMazzini,MarcoMilo,FabioPalmeriandtheFisheriesandAquacultureStatisticsTeamandGLOBEFISH.SpecialthanksgotoDavidBedfordandLaviniaLucarelliforpreparingthechartsandstatisticaltablesandtoElisaMiccinilliforheradministrativesupport.Additionally,theteamisgratefultoEttoreVecchioneforthedesktoppublishingandRuthRaymondforhervaluableeditorialassistance.ixFOODOUTLOOKMarketsataglanceNOVEMBER2023ATMARAGLAKETSNCEWHEATMarketsataglanceGlobalwheatproductionin2023isforecasttofallbelowlastWHEATPRODUCTION,UTILIZATIONANDyear’srecordlevel,butitshouldstillbethesecondlargestSTOCKSonrecord.MostoftheforeseenreductionrelatestoloweroutputsinAustraliaandtheRussianFederation,followingall-milliontonnesmilliontonnestimehighsin2022,andsizeableproductiondeclinesforecast810320inCanadaandKazakhstan.ThesedecreasesareanticipatedtomorethanoffsetproductionupturnsinArgentina,India760280andtheUnitedStatesofAmerica.710240Theworldtotalwheatutilizationisforecasttorisein2023/24,stemmingfromanexpectedgrowthinthe660200foodconsumption–ledbyAsiaandAfrica–andfeedusecomponents,whiletheotherusesareanticipatedtoremain610160onparwithlastseason’slevels.TheincreaseinfeeduseisforeseentobelargelyconcentratedinChina,supportedby56014/1516/1718/1920/2122/2323/24120thedomesticpricecompetitivenessofwheatrelativetoothercerealsandalargerdomesticsupplyoflowerqualitywheatf’castthisyear.Production(leftaxis)Utilization(leftaxis)GlobalwheatinventoriesareforecasttoremainnearStocks(rightaxis)theirrecord-highopeninglevelsbythecloseoftheseasonsin2024.TheaggregatestocklevelofthemajorexportersSource:FAOisexpectedtorise,mainlyreflectinganincreaseinstocksinUkraineandtheUnitedStatesofAmerica.Asaresult,theWORLDWHEATMARKETATAGLANCEratioofmajorexporters’stock-to-disappearance(definedasdomesticutilizationplusexports)–ameasureofglobal2021/222022/232023/24Changemarketavailabilities–isforecasttorisefrom19.4percentestim.f'cast2023/24in2022/23to20.5percentin2023/24.Amplesuppliesandstrongcompetitionamongexportershavecontributedtoamilliontonnesovergeneraldownwardtrendininternationalwheatprices,which2022/23stood27percentbelowtheiryear-earliervalueasofOctober.%Worldwheattradein2023/24(July/June)ispredictedtofallfromtherecordlevelreachedin2022/23.AccountingWORLDBALANCEformostoftheforeseendeclineamongimporters,China,theEuropeanUnionandTürkiyeareexpectedtocurbtheirProduction778.3803.1785.1-2.2purchasesthisseason.Ontheexportside,smallershipmentsareforeseenfromAustraliaandCanada,inbothcasesTrade1195.9200.0194.4-2.8reflectinganexpectedfallindomesticproduction,andfromUkraine,duetoongoingtradedisruptionsfromthewar.Totalutilization774.4778.6789.51.4Partlyoffsettingthosedeclines,largersalesareforeseenbyArgentina,markingareboundfromlastyear’sslump,andFood524.5530.7535.40.9theRussianFederation(theworld’slargestwheatexporter),whichwouldincreaseitsshareintotalglobaltradeofwheat.Feed147.4150.8152.91.4Foradditionalanalysesandupdates,see:Otheruses89.892.990.3-2.8FAOCerealSupplyandDemandBriefhttp://www.fao.org/worldfoodsituationEndingstocks2295.7315.6315.1-0.1CropProspectsandFoodSituationSUPPLYANDDEMANDINDICATORShttp://www.fao.org/giews/reports/crop-prospectsPercaputfoodconsumption:AMISMarketMonitorhttp://www.amis-outlook.org/amis-monitoringWorld(kg/yr)67.167.167.20.1Contact:LIFDC(kg/yr)41.841.641.60.0ErinCollierWorldstocks-to-use38.040.039.5JonathanPound(Production)ratio(%)Majorexporters16.119.420.5stocks-to-disap-20212022pearanceratio3(%)2023%Change165Jan−Oct.Jan/OctFAOWHEATPRICE2023INDEX4130over(2014−2016=100)Jan/Oct2022132-35.01TradereferstoexportsbasedonacommonJuly/Junemarketingseason.2Maynotequalthedifferencebetweensupply(definedasproductionpluscarryoverstocks)andtotalutilizationduetodifferencesinindividualcountrymarketingyears.3MajorexportersincludeArgentina,Australia,Canada,theEuropeanUnion,Kazakhstan,theRussianFederation,UkraineandtheUnitedStatesofAmerica.4DerivedfromtheInternationalGrainsCouncil(IGC)wheatindex.Source:FAOFOODOUTLOOK1NOVEMBER2023MarketsataglanceCOARSEGRAINSGlobalcoarsegrainsuppliesaresettoreboundin2023/24,COARSEGRAINPRODUCTION,UTILIZATIONowingtoananticipatedstrongproductionrecovery.ANDSTOCKSUnderlyingthisoutlookareexpectationsofsteepproductionupturnsinBrazilandtheUnitedStatesofAmerica,wheremilliontonnesmilliontonnesremunerativecroppriceshavedrivenupmaizeplantings.1600400NotablebutsmallerincreasesarealsoexpectedinChina(mainland)andtheEuropeanUnion.Conversely,sizeable1450325productiondownturnsareforeseeninArgentina,AustraliaandCanadaduetodryweatherconditions,whichhave1300250loweredyieldprospects.1150175Supportedbytheforeseengreateravailabilities,globalutilizationofcoarsegrainsisanticipatedtoincreasein100014/1516/1718/1920/2122/2323/241002023/24aftercontractingin2022/23.Thisreflectsexpectedf’castgrowthinmaizeandsorghumutilizationmorethanoffsettingalikelydeclineinbarleyconsumption.FeedusesofmaizeProduction(leftaxis)Utilization(leftaxis)andsorghumareexpectedtorise,especiallyinChina,BrazilStocks(rightaxis)andtheUnitedStatesofAmerica,whileBrazilandtheUnitedStatesofAmericaarealsoseentoaccountformuchoftheSource:FAOincreaseintheindustrialuseofmaize.WORLDCOARSEGRAINMARKETATAAfterfallingtoanine-yearlowin2022/23,totalGLANCEinventoriesofcoarsegrainsareseenheadingforastrongreboundin2023/24,duetoananticipatedrecoveryinmaize2021/222022/232023/24Changestocks.Withthebulkoftheriseinmaizeinventoriesexpectedestim.f'cast2023/24tobeconcentratedintheUnitedStatesofAmerica,alongwithsmallerincreasesinothermajorexportingcountries,milliontonnesoverincludingBrazilandUkraine,theworldcoarsegrains2022/23stocks-to-useratioaswellasthemajorexporters’stocks-WORLDBALANCEto-disappearanceratio(definedasdomesticconsumption%plusexports)areexpectedtorise,withthelatterpotentiallyProduction1507.81470.51510.3reachingitshighestlevelinfiveyears.Trade1230.1223.9222.02.7-0.8Worldtradeincoarsegrainsin2023/24(July/June)isTotalutilization1502.31481.71499.01.2forecasttodeclinefromits2022/23level,drivenmostlybyan228.31.1anticipatedfallinmaizetrade,alongwithasmallerforeseenFood223.5225.9874.31.2decreaseinbarleytrade.Thedeclineinglobalmaizetrade396.31.2mostlyreflectsexpectationsoflowerimportdemandbytheFeed880.2864.3367.15.9EuropeanUnionand,ontheexportside,reducedmaizeshipmentsfromUkraineduetotheongoingdisruptionsfromOtheruses398.6391.5thewar.Brazilissettomaintainitspositionastheworld’sleadingmaizeexporterforasecondseason.ThereboundinEndingstocks2365.3346.8globalsuppliesthisseasonhasexerteddownwardpressureoninternationalpricesofmajorcoarsegrains,whichoverallSUPPLYANDDEMANDINDICATORSstood25percentbelowtheirlevelsinthecorrespondingperiodlastyearinOctober.Percaputfoodconsumption:Foradditionalanalysesandupdates,see:World(kg/yr)28.328.328.40.4FAOCerealSupplyandDemandBriefLIFDC(kg/yr)71.971.772.00.4http://www.fao.org/worldfoodsituationWorldstocks-to-use24.723.123.7CropProspectsandFoodSituationhttp://www.fao.org/giews/reports/crop-prospectsratio(%)AMISMarketMonitorMajorexporters13.012.214.1http://www.amis-outlook.org/amis-monitoringstocks-to-disap-Contact:pearanceratio3ErinCollierJonathanPound(Production)(%)FAOCOARSE202120222023%ChangeGRAINPRICE145169Jan−Oct.Jan/Oct2023INDEX4(2014−2016=100)138overJan/Oct2022-28.51TradereferstoexportsbasedonacommonJuly/Junemarketingseason.2Maynotequalthedifferencebetweensupply(definedasproductionpluscarryoverstocks)andtotalutilizationduetodifferencesinindividualcountrymarketingyears.3MajorexportersincludeArgentina,Australia,Brazil,Canada,theEuropeanUnion,theRussianFederation,UkraineandtheUnitedStatesofAmerica.Source:FAO2FOODOUTLOOKNOVEMBER2023RICEMarketsataglanceThe2023/24seasonhasencounteredweathersetbacksRICEPRODUCTION,UTILIZATIONANDassociatedwiththepersistenceofLaNiñaeventuntilMarch,STOCKSwhichwasfollowedbytheemergenceofElNiñoinJune.Atthesametime,improvementsintherelativeprofitabilityofricemilliontonnes,milledeq.milliontonnes,milledeq.cultivationhavestimulatedexpansionsinmain-cropplantings530200inAsia,AfricaandNorthernAmericathatshouldhelpoffsetthenegativeimpactsoftheweatherdisruptions.Asaresult,505175worldriceproductionisforecasttoreach523.9milliontonnes(milledbasis)in2023/24,implyinga0.8percentexpansion480150fromthe2022/23reducedharvest.455125Totalworldriceuseisseenstagnatingat522.0milliontonnesin2023/24,ashighdomesticandinternationalprices43014/1516/1718/1920/2122/2323/24100areexpectedtodepresstheuseofriceforanimalfeedandf’castdetergrowthinpercapitafoodintakeoutsideofsomeAsiancountries,NorthernAmericaandEurope.CombinedwithanProduction(leftaxis)Utilization(leftaxis)anticipatedproductionrecovery,thiscouldliftworldricestocksStocks(rightaxis)atthecloseof2023/24marketingseasonstoafreshpeakof198.9milliontonnes,withmuchoftheforeseenexpansionSource:FAOconcentratedinChina,Indonesia,theUnitedStatesofAmericaand,especially,India.WORLDRICEMARKETATAGLANCEInternationaltradeinricein2024isforecasttoremain2021/222022/232023/24Changeclosetothe2023reducedlevelat52.8milliontonnes.estim.f'cast2023/24ApartfromBrazil,UruguayandVietNam,mostexportersareexpectedtoraisetheirshipments,compensatingforanoverexportreductioninIndia,whereofficialdecisionsregarding2022/23thedurationoftheexportrestrictionsandexceptionstothemwillcontinuetodeterminethecountry’sexportperformance.milliontonnes%Meanwhile,globalimportdemandcouldbebroadlystrongnextyear.However,iftheypersist,highexportpricescouldWORLDBALANCEcurbAfricanimportsforthesecondsuccessiveyear,whilerefurbishedstockscouldenablesomeAsianimporters(notablyProduction526.0519.8523.90.8Indonesia)toreducetheirpurchases.Trade155.953.052.8-0.3Afterrisingforthegreaterpartofthelast18months,internationalricepricesacceleratedtheirpaceofincreaseTotalutilization522.6521.6522.00.1inJulyandAugust2023,amidasteppingupofriceexportrestrictionsbyIndia,seasonaltightnessandconcernsaboutFood419.0422.9426.80.9theimpactsofElNiñoonproduction.Sincethen,exportquotationshaveeased,influencedbyaweakeningimportEndingstocks2197.2196.0198.91.5demand,thearrivaloffreshlyharvestedsuppliesandcurrencydepreciationsagainsttheUSdollarinsomeAsianexportingSUPPLYANDDEMANDINDICATORScountries.Nevertheless,reflectinglingeringuncertainties,particularlyontheweatherandtradepolicyfront,inOctoberPercaputfoodconsumption:2023,internationalricepricesremainedonaverage24percentabovetheiryear-earlierlevel.World(kg/yr)53.053.053.00.0Foradditionalanalysesandupdates,see:LIFDC(kg/yr)28.528.027.9-0.1FAORicePriceUpdateWorldstocks-to-use37.837.637.8https://www.fao.org/markets-and-trade/commodities/rice/fao-rice-price-update/ratio(%)CerealSupplyandDemandBriefMajorexporters28.729.830.9http://www.fao.org/worldfoodsituation/csdb/AMISMarketMonitorstocks-to-disappear-http://www.amis-outlook.org/amis-monitoringanceratio(%)3Contact:FAORICEPRICE202120222023%ChangeShirleyMustafaINDEXJan−Oct.Jan/Oct(2014−2016=100)2023overJan/Oct202210610713021.61Calendaryearexports(secondyearshown).2Maynotequalthedifferencebetweensupply(definedasproductionpluscarryoverstocks)andutilizationduetodifferencesinindividualcountrymarketingyears.3MajorexportersincludeIndia,Pakistan,Thailand,theUnitedStatesofAmericaandVietNam.Source:FAOFOODOUTLOOK3NOVEMBER2022MarketsataglanceOILCROPSGlobalproductionofoilseedsisexpectedtocontinueFAOMONTHLYINTERNATIONALPRICEexpandingin2023/24andreachanewrecordhigh,mainlyINDICESFOROILSEEDS,VEGETABLEOILSreflectinghigherforecastsforsoybeanandsunflowerseed,ANDMEALS/CAKES(2014-2016=100)morethanoffsettinganexpectedcontractioninrapeseedproduction.Theanticipatedincreaseinsoybeanproduction280primarilyhingesonexpectationsofaconsiderableoutputoilsrecoveryinArgentinaandacontinuedareaexpansioninBrazil,assumingnormalweatherconditionsinboth210countries.Ontheotherhand,soybeanoutputintheUnitedStatesofAmericawilllikelydeclineforthesecond140consecutiveseasonduetoreducedplantings.Meanwhile,worldsunflowerseedproductionispredictedtoreboundseedsmealsmarkedlyfromthepreviousseason,owingchieflytoconducivegrowingconditionsacrosstheBlackSearegion70andEurope.Bycontrast,globalrapeseedproductionisexpectedtodropfromtherecordhighregisteredin020172018201920202021202220232022/23duetoanticipatedharvestshortfallsinAustralia2016andCanadaamidunfavourableweatherconditions.Asforpalmoil,outputsinbothIndonesiaandMalaysiaSource:FAOareforecasttoincrease,butonlymodestlybecauseofexpectationsofbelow-potentialyields.WORLDOILCROPANDPRODUCTMARKETGlobaloils/fatsutilizationin2023/24ispredictedATAGLANCESource:FAOtoincreaseby2.5percentfromthepreviousseason,underpinnedbyananticipatedgrowthinthefooduse2021/222022/232023/24Changecomponentandrobustdemandfromthebiodieselsector,estim.f'cast2023/24particularlyintheUnitedStatesofAmerica.Meanwhile,worldconsumptionofoilmealsisforecasttogrowbymilliontonnesover3.1percent,facilitatedbyexpectedproductiongains2022/23coincidingwithanticipatedsteadyuptakesfromthefeedTOTALOILCROPS619.4640.9666.7industry.InternationaltradeinbothvegetableoilsandProduction%oilmealsisforecasttostagnatein2023/24,withmajorOILSANDFATS247.3253.7258.6importingcountriesexpectedtobewellsuppliedfromtheirProduction279.5287.0293.74.0purchasesinthepreviousseason.Supply245.4253.1259.3Utilization126.7139.6138.51.9Withglobaloils/fatsproductionseenasfallingshortofTrade2.3expectedconsumptionbyasmallmarginin2023/24,worldGlobalstocks-to-useratio(%)13.613.913.32.5carryoverstocksofoils/fatsarepredictedtocontractslightlyMajorexportersstocks-to--0.8belowtheiropeninglevelswhileremainingabovetheirdisappearanceratio(%)10.79.49.7averagelevelofrecentyears.Asforoilmeals,globalendingMEALSANDCAKES4.8stocksareforecasttorisefurthertoafour-yearhigh,due158.6164.0171.94.7largelytoanticipatedproductionincreases.InlinewithsuchProduction187.4189.9198.73.1fundamentals,theinternationalpricesofvegetableoilsSupply160.9161.3166.3-0.6remainedonadownwardtrajectoryafterreachingall-timeUtilization101.2108.0107.4highsinMarch2022.WorldoilmealpricesalsodeclinedinTraderecentmonths,followingtemporaryincreasesinearly2023.Globalstocks-to-useratio(%)16.116.617.8Majorexportersstocks-to-Foradditionalanalysesandupdates,see:disappearanceratio(%)9.48.39.8OilcropsMonthlyPriceUpdatehttps://www.fao.org/markets-and-trade/publications/en/?querystring=OilseedsFAOPRICEINDICES202120222023%ChangeJan–DecJan−Oct.Jan/Oct2023AMISMarketMonitor(2014–2016=100)http://www.amis-outlook.org/amis-monitoringoverJan/Oct2022Contact:Oilseeds139158128-19.7DiYangMeals/cakes-5.2Vegetableoils116133126-35.1165188127Note:ForexplanationsondefinitionsandcoveragekindlyrefertopreviousissuesofFoodOutlook.Source:FAO4FOODOUTLOOKNOVEMBER2023SUGARMarketsataglanceInternationalsugarmarketsareseentobeheadingtowardsINTERNATIONALSUGARPRICESaproductiondeficitinthe2023/24(October/September)season,asglobaloutputisforecasttofallbelowlastUScentsperlb.season’sbumperlevel,whileworldconsumptionisexpected28tocontinueexpanding,albeitmoderately.Asaresult,sugarinventoriesarepredictedtodeclinein2023/24.2023FAO’spreliminaryforecastforthe2023/24seasonpegs2320222021worldsugarproductionat175.5milliontonnes,down3.61820192020milliontonnes,or2percent,fromthe2022/23outturn.13ThedeclineislargelyattributedtoexpectationsofreducedFMAMJJ2018outputsinkeyproducingcountries,namelyThailand8JASONDandIndia,duetodrier-than-normalweatherconditionsassociatedwiththeprevailingElNiñophenomenon.InSource:PricesrefertotheSugarNo.11contracttradedattheNewYorkBrazil,the2023/24sugarproductionissettobelowerIntercontinentalExchange(ICE)thanthe2022/23recordlevel,whileintheUnitedStatesofAmerica,productionisexpectedtodeclineslightlydueWORLDSUGARMARKETATAGLANCEtodryweatherconditions.Bycontrast,intheEuropeanUnion,the2023/24sugaroutputisforecasttorecoverfrom2021/222022/232023/24Changelastyear’sreducedlevelonaccountofbothanincreaseestim.f’cast2023/24inplantingsandhigheryields.Likewise,areboundinproductionisalsoexpectedinChina,drivenbyastrongmilliontonnesoverrecoveryinsugarcropyields.2022/23WORLDBALANCEGlobalsugarconsumptionissettoexpandby%0.8percentin2023/24,aslowdowncomparedtotheProduction175.2179.1175.5growthrecordedinthepreviousthreeseasons.Theincrease62.160.7-2.0isprimarilydrivenbypopulationgrowth,whiletheslowingTrade61.8-2.4worldeconomyandhighsugarpricesareexpectedtopartly176.5178.00.8offsettheupwardeffectofpopulationondemand.Totalutilization174.5113.0110.8-2.0ThepreliminaryforecastforworldsugartradeinEndingstocks110.722.222.10.02023/24ispeggedat60.7milliontonnes,slightlydown12.712.6-0.9fromtheestimatedvolumefor2022/23duetolowerSUPPLYANDDEMANDINDICATORS64.062.3-2.8exportablesuppliesanticipatedinBrazil,IndiaandThailand.Globalimportdemandisexpectedtobesubdued,withPercaputfoodconsumption:asignificantforecastdeclineinimportsbytheEuropeanUnionandtheUnitedStatesofAmerica,whilepurchasesWorld(kg/yr)22.1byChinawilllikelyrecoverafterthedeclinein2022/23.LIFDC(kg/yr)12.7AfterretreatinginJuneandJuly2023,internationalsugarpricesrebounded,andinSeptember2023theyWorldstocks-to-useratio(%)63.4reachedtheirhighestlevelsinceSeptember2011.ThepriceincreasesweremainlytheresultofconcernsoveratighterISADAILYPRICEAVERAGE202120222023%Changeglobalsupplyoutlookintheupcoming2023/24season,(UScents/lb)18.5Jan−Oct.Jan/Octwithhigherinternationalcrudeoilpricesprovidingfurther2023support.However,amplesuppliesfromthe2022/23sugar23.3overcropinBrazillimitedtheincreasesandcontributedtoaJan/OctslightdeclineinworldsugarpricesinOctober.202217.726.5TradereferstoexportsbasedonacommonOctober/Septembermarketingseason.Source:FAOContact:ElMamounAmroukFabioPalmeriFOODOUTLOOK5NOVEMBER2023MarketsataglanceMEATANDMEATPRODUCTSWorldmeatproductionin2023isforecasttoincreaseFAOINTERNATIONALMEATPRICEINDEXto365milliontonnes(carcassweightequivalent),up(2014−2016=100)0.8percentfrom2022.TheincreasereflectsanexpectedgrowthinproductioninAsia,mainlyofpigmeatinChina,130duetoincreasedslaughterasnon-competitive,small-scale2022farmersexitthesectoramidlowpricesandsqueezedprofitmargins.ProductionisalsolikelytoexpandinSouth1202023America,notablyBrazil,duetolowerfeedcosts,andinOceania,duetoanexpandedsupplyofslaughter-ready110animalsandincreasedexportdemand.Theseproduction2021gainswilllikelybepartiallyoffsetbyloweroutputsinEurope,mainlyintheEuropeanUnion,becauseofanimal100diseasesandthecontinueddropinherdnumbers,andinAfrica,asdrierconditionscontinuetoimpactfeed90andfodderavailabilitiesandconflictsdisruptlivestockJFMAMJJASONDoperations.NorthernAmericaisalsoexperiencingoutputdeclinesduetolowerproducerreturnsandrelativelyhighSource:FAOfeedcosts.WORLDMEATMARKETATAGLANCEGlobaltradeinmeatandmeatproductsisforecastatnearly41milliontonnesin2023,down0.8percentfrom202120222023Change:thepreviousyear.ImportsareexpectedtodeclineinAfrica,estim.f’cast2023Europe,NorthernAmerica,SouthAmericaandOceania,overinfluencedmainlybyreducedconsumerpurchasesduetoJuneNov.2022risinginflation,sluggisheconomicgrowthandtheimpactofcurrencydepreciations.Thecontractionintheoverallmeatmilliontonnes%tradewilllikelybecontainedbyanimportrecoveryinAsia,ledbyChina,underpinnedbyhigherfoodservicessales,(carcassweightequivalent)notwithstandinghigherdomesticproductionandamplestocks.Inaddition,CentralAmericaandtheCaribbeanWORLDBALANCE356.6362.4363.9365.20.8couldincreasemeatimportsduetoareboundindemand,Productionespeciallyforpoultryandbovinemeats.Regardingexports,Bovinemeat74.575.876.176.00.3highershipmentsareexpectedmainlyfromBrazilandPoultrymeatAustralia,reflectingtheiranimaldisease-freestatusandPigmeat138.3141.0142.7142.51.0competitiveprices.Elsewhere,animaldiseasescontinuetoOvinemeatweighontradedespiteeffortstocontainexportdownturnsTrade120.8122.3121.7123.10.7throughtradeagreementsandtheimplementationofBovinemeatanimaldiseaseregionalizationpolicies.Poultrymeat16.416.716.817.01.7PigmeatInternationalmeatpricestrendeddownwardsinceJulyOvinemeat42.041.842.141.4-0.82023,principallyduetoincreasedexportavailabilitiesfrom12.112.7leadingexportingregions,especiallySouthAmerica,ledby12.812.5-1.3BrazilandOceania.Inaddition,aslowdowninthepaceofimportsbykeymeat-importingcountriesalsoweighedon15.816.216.416.30.7worldmeatprices.12.711.511.411.0-3.6Foradditionalanalysesandupdates,see:1.11.11.11.26.3MeatMarketReviewhttps://www.fao.org/markets-and-trade/publications/en/?news_files=113402SUPPLYANDDEMANDINDICATORSMeatMarketReview:Emergingtrendsandoutlook2023(forthcoming)Percaputfoodconsumption:Contact:World(kg/year)44.945.245.045.20.011.511.611.3UpaliGalketiAratchilageTrade-shareofprod.(%)11.820222023-1.6EmanueleMaroccoJan−Oct.FAOMEATPRICEINDEX2021%Change(2014–2016=100)115Jan/Oct2023over108119Jan/Oct2022-3.8Source:FAO6FOODOUTLOOKNOVEMBER2023MILKANDMILKPRODUCTSMarketsataglanceWorldmilkproductionisforecasttoreach950milliontonnesFAOINTERNATIONALDAIRYPRICEINDEXin2023,up1.3percentfrom2022,reflectingaforeseen(2014−2016=100)productionexpansioninAsia,notablyIndiaandChina.Muchoftheexpectedincreaseinglobalmilkoutputin2023is160drivenbyyieldimprovementsandthecontinuedriseindairy2022cattlenumbers,compensatingfortheincreasedslaughterofdairycattle,especiallyinEuropeandNorthernAmerica,140duetosqueezedoperationalmargins.InSouthAmerica,2023productionisforecasttoexpandslightly,particularlyinBrazil,duetoincreasingdairyherdnumbers,higheryieldsandlower120inputcosts.InOceania,productionisanticipatedtoincrease2021moderatelyduetofavourableweatherdespiterisinginputcostsandthedropindairypricessqueezingoperational100margins.Bycontrast,milkoutputisforecasttofallinAfricaduetotheconstrainedavailabilityoffeedandfodder,poor80JFMAMJJASONDpastureconditionsandconflict-induceddisruptionstolivestockSource:FAOoperations.WORLDDAIRYMARKETATAGLANCEWorldtradeindairyproductsisforecastat84milliontonnes(inmilkequivalents)in2023,down202120222023Change:1.0percentfrom2022.Thisdecreaseisunderpinnedbyestim.f’cast2023ananticipateddropinimportsbyAsia,principallyChina,overonaccountofrisingdomesticproductionandincreasedJuneNov.2022stocksofimporteddairyproducts.Importcontractionsarelikelyinseveralotherleadingdairyimporters,includingthemilliontonnes%Philippines,IndonesiaandMalaysia,mainlyduetoless-(milkequivalent)than-expectedgrowthinfoodservicessalesandcurrencydepreciations.However,higherdairyproductpurchasesareWORLDBALANCE932.0937.7944.0949.91.3foreseenforseveralcountries,notablyBrazil,Mexico,AlgeriaTotalmilkproductionandSaudiArabia,inducedbycompetitiveinternationaldairypricesofferedbytheirtradingpartners,inadequatelocalTotaltrade88.684.985.084.0-1.0suppliesandmoreactivefoodservicessales.Meanwhile,apossibledownturninglobalimportdemand,coupledwithSUPPLYANDDEMANDINDICATORS117.4118.20.4lesscompetitiveprices,couldlowerprospectsforshipments9.08.8fromseveralexporters,suchastheUnitedStatesofAmerica,Percaputfoodconsumption:-3.3AustraliaandArgentina.2023%ChangeWorld(kg/year)117.9117.8Jan−Oct.Jan/OctInternationalpricesofdairyproductsdeclinedfromJanuary2023overtoSeptember2023,principallyunderpinnedbylacklustreTrade-shareofprod.(%)9.59.1Jan/Octimportdemandforspot-andnear-termdeliveriesamidample20212022stocksinimportingcountries.ThisperiodcoincidedwithFAODAIRYPRICEINDEX2022abundantexportableavailabilities,especiallyfromNewZealand(2014–2016=100)inits2023/24productionseasonandlimitedinternaldemandinsomelargeexportingregions,especiallytheEuropeanUnion.119142119.5-16.6However,worlddairypricesreboundedinOctober2023,reflectingasurgeindemand,coupledwithtightsuppliesfromSource:FAOWesternEuropeandconcernsoverthepotentialimpactoftheElNiñoeventonsuppliesfromOceania.Foradditionalanalysesandupdates,see:DairyMarketReviewhttps://www.fao.org/markets-and-trade/publications/en/?news_files=113040DairyMarketReview:Emergingtrendsandoutlook2023(forthcoming)Contact:UpaliGalketiAratchilageHaroutDekermendjianFOODOUTLOOK7NOVEMBER2023MarketsataglanceFISHANDFISHERYPRODUCTSGlobalfisheriesandaquacultureproductionislikelytoFISHPRICEINDEX(2014-2016=100)stagnatein2023,whileeconomicfactorscontinuetoweighonconsumerdemand.180Annualfisheriesandaquacultureproductionisforecast145at185milliontonnesin2023,0.6percentmorethan2022levels,principallydrivenbyexpansionandintensification110ofaquacultureintheNorthAtlanticandsmallpelagicsintheEasternPacific.Inparticular,ElNiñoweatherconditions75haveledtoreducedproductionofsmallpelagics,especiallyPeruviananchovetacatchesfollowingthecancellationof40thefirst2023season.Alreadyintightsupply,downgradedprospectsinthissectorareexpectedtoresultinanever-2000200220042006200820102012201420162018202020222023lowerglobalsupplyoffishmealandfishoilforthecomingyear,withacascadingimpactontheglobalsupplyofFAOtotalfishpriceindexaquacultureproductsandlivestockfeedinputs.CapturetotalAquaculturetotalWorldtradeinfishandfisheriesproductsin2023isforecastat65milliontonnes,a4.3percentdeclinecomparedSourceoftherawdatafortheFAOFishPriceIndex:EUMOFA,INFOFISH,with2022levels.Meanwhile,thevalueofglobaltradeinaquaticproductsisexpectedtodeclinetoUSD183.7billion.INFOPESCA,INFOYU,StatisticsNorway.Currencyfluctuationscontinuetohavevariousimpactsontrade,withthestrengtheningoftheUnitedStatesofWORLDFISHMARKETATAGLANCEAmericadollaralreadyhavingreducedtheaffordabilityofimportsofaquaticproductsnotonlyformanydeveloping202120222023Change:countriesbutalsoforlargermarketssuchastheEuropeanestim.f’cast2023Union,addingtoinflation-linkedpricehikes.overmilliontonnes2022Higherpricesofcertainspeciesandweakeconomic(liveweight)growthhaveunderminedoveralldemandforfisheriesand%aquacultureproducts.Pricesincreasedinthefirstsixmonthsoftheyear,particularlyforkeycapturespeciessuchascod,WORLDBALANCE1182.1184.3185.40.6herring,mackerelandtuna,allofwhichwereinshortsupply.ProductionWhiletheFAOFishPriceIndexforaquacultureproductsregistereda13percentdeclinebetweenJanuaryandCapture91.291.189.6-1.7September2023,pricesoffishfromcapturefisheriesrosefisheriesby12percentoverthesameperiod.Divergingpricetrendshavebeenreflectedinchangingconsumerpreferences,withAquaculture90.993.295.82.8relativelyaffordablespeciessuchasshrimp,smallpelagicsandpangasiusallseeinggrowingdemand.Tradevalue176.2188.5183.7-2.6Foradditionalanalysesandupdates,see:(exportsUSDbillion)FAOGLOBEFISHinformationandanalysisonfisheriesandaquaculturetradehttp://www.GLOBEFISH.orgTradevolume66.667.965.0-4.3(liveweight)Contact:Totalutilization182.1184.3185.40.6FoodWilliamGriffinFeed161.1164.2166.11.2AudunLemOtherusesStefaniaVannuccini16.916.115.2-5.34.04.04.0-0.1SUPPLYANDDEMANDINDICATORSPercapitafoodconsumption:Foodfish(kg/year)20.420.620.60.39.09.08.9-1.8Fromcapturefisheries(kg/year)11.411.611.81.9202120222023FromaquacultureJan−Sep.%Change(kg/year)101.7120.8Jan/Sep125.52023overFAOFISHPRICEJan/SepINDEX2(2014–2016=100)20222.1%Source:FAO1Datadonotincludeaquaticmammals,crocodiles,alligators,caimansandalgae.2SourceoftherawdatafortheFAOFishPriceIndex:EUMOFA,INFOFISH,INFOPESCA,INFOYU,StatisticsNorway.8FOODOUTLOOKNOVEMBER2023MarketsataglanceFOODOUTLOOK9NOVEMBER202310FNOOOVDEMOBUETRLO20O2K3MajorpolicydevelopmentsDEMPARKVELOOPLICYETMENTSGRAINS:MAJORPOLICYDEVELOPMENTSMID-MAY2023TOMID-OCTOBER2023COUNTRYCOMMODITYDATEPOLICYDESCRIPTIONAlgeriaGrainsJul-23INSTRUMENTMaizeAnnouncedthatcerealfarmersaffectedbythe2023droughtwillreceiveseedsandfertilizertohelpthemArgentinaMaizeandsorghumProductionsupportprepareforthenextplantingseason.MaizeBotswanaMay-23BiofuelIncreasedthepriceofmaize-basedethanolusedinbiofuelblendsforautomobilesfromARS148.48(USDBrazil0.62)toARS155.17(USD0.65)perlitre.Thepriceappliesretrospectivelytopurchasesmadefrom17MayuntilMay-23Exportpolicyfurthernotice.Jun-23BiofuelAgreedtoanewmaizeandsorghumexportprotocolwithChina.TheresolutionestablishedanupdatedlistofpestquarantinesstandardsthatsatisfyChina'srequirements.MaizeJul-23BiofuelIncreasedthepriceofmaize-basedethanolusedinbiofuelblendsforautomobilesfromARS155.17(USD0.60)Barley,maizeJul-23ExportpolicytoARS165.43(USD0.65)perlitre.Thepriceappliesretrospectivelytopurchasesmadefrom17Juneuntilandsorghumfurthernotice.Jul-23ExportquotaBarley,maizeIncreasedthepriceofmaize-basedethanolusedinbiofuelblendsforautomobilesfromARS165.43(USD0.62)andsorghumJul-23BiofueltoARS172.76(USD0.65)perlitre.Thepriceappliesretrospectivelytopurchasesmadefrom8JulyuntilfurtherAug-23Biofuelannouncement.MaizeMaizeAug-23ProductionsupportAnnouncedthatbarley,maizeandsorghumexportsinthe2023/24marketingyearwouldbenefitfromaspecialandmorefavourableexchangeratefrom23July2023through31August2023.ThespecialexchangeratewasMaizeandwheatMay-23TradebansetatARG340perUSdollar,morethan20percenthigherthantheofficialexchangerate.MaizeandsorghumIncreasedtheexportquotaformaizeharvestedduringthe2023/2024seasonfrom20millionto26milliontonnes.Moreover,itsetanexportquotaforbarleyforthefirsttime.ThequotawassetatNFOOVOEDMOBUERTL2O0O2K311WheatJun-23Foodsecurity3.55milliontonnes,ofwhich2.6milliontonneswerefeedbarleyand950000tonnesweremaltingbarley.Thequotaforsorghumexportswaskeptat950000tonnesasestablishedon25April2023.Increasedthepriceofmaize-basedethanolusedinbiofuelblendsforautomobilesfromARS172.76(USD0.62)toARS199.06(USD0.72)perlitre.Increasedthepriceofmaize-basedethanolusedinbiofuelblendsforautomobilesfromARS199.06(USD0.57)toARS224.31(USD0.64)perlitre.AnnouncedaUSD30millionbudgetforthe“wheatandmaizeplanningprogramme.”Theprogrammesupportswheatandmaizeproducerswhohaveplantedupto150hectaresandwhohavebeenaffectedbydrought.Inaddition,producersreceiveupto5tonnesofureafertilizer.Announcedatemporaryban,untilfurthernotice,onboththeexportandimportofmaizeandsorghum.Theaimistoensurefoodsecurity.Announcedtheprocurementof500000tonnesofmaizefromruralproducersthroughtheFederalGovernmentAcquisitionsmechanismwiththeaimofreplenishingpublicfoodreserves,resumingapolicythathadbeendiscontinuedunderthepreviousgovernment.AnallocationofBRL350million(USD71million)hasbeenallocatedtosupportstockpurchases,whichthegovernmentexpectstohelpstabilizepriceswhensuppliesarelowandtohelpfarmersselltheiroutputatthelegally-mandatedminimumprice.GrainsMajorpolicydevelopments12FNOOOVDEMOBUETRLO20O2K3COUNTRYCOMMODITYDATEPOLICYDESCRIPTIONBrazilINSTRUMENTCanadaAllocatedBRL400million(USD79million)tosubsidizewheattransactions.TheprogrammeintroducesabaseChileWheatOct-23ProductionsupportpriceofBRL88fora60kgbag(USD289pertonne)of"high-qualitywheat,"whichis44percenthigherthanthecurrentdomesticprice.TheschemewillensurethattransactionstakeplaceatthispricelevelthroughtheChina(mainland)MaizeJul-23Tradepolicyparticipationofwheatgrowers,millersandtradersinanauctionsystem.WheatEgyptWheatJun-23ImporttariffIssuedastatementindicatingthatitwilljoin,asathirdcountryparty,undertheCanada–UnitedStatesofWheatAmerica–MexicoAgreement(CUSMA),thedisputethattheUnitedStateshasinitiatedwithMexico,overtheGrainsAug-23Importtariffuseofbiotechmaizeinfood.WheatOct-23ImporttariffDecreasedapplicablediscountsoncustomsdutiesonwheatandwheatflourfromUSD225.43toUSD125.19May-23ImporttariffpertonneandfromUSD351.47toUSD195.29pertonne,respectively,from16June2023to15August2023.Jun-23ProductionsupportDecreasedapplicablediscountsoncustomsdutiesonwheatandwheatflourfromUSD125.19toUSD124.63pertonneandfromUSD195.29toUSD194.63pertonne,respectively,from16August2023to15GrainsAug-23ProductionsupportOctober2023.BarleyAug-23ImporttariffDecreasedapplicablediscountsoncustomsdutiesonwheatandwheatflourfromUSD124.63pertonnetoUSDMaize119.24pertonneandfromUSD194.63pertonnetoUSD186.01pertonne,respectively.ThediscountshaveaWheatAug-23Productionsupporttwo-monthvalidity,from16October2023to15December2023.MaizeSep-23WheatOct-23GovernmentAdoptedduty-freetreatmentofgrainsimportedfromthePhilippines,includingbuckwheat,oatsandbarley.WheatMay-23procurementWheatJun-23GMOpolicyAllocatedCNY200million(USD28.21million)fromadisasterrelieffundtoensureharvestsincentralChina'sAug-23HenanProvincefollowingprolongedrain.ThefundwillbeusedtofacilitatemechanicalharvestinganddryingFoodsecurityofwheattominimizelossesingrainproduction.ThefundwasjointlyallocatedbytheMinistryofFinanceandImportpolicytheMinistryofAgricultureandRuralAffairs.ImportpolicyAllocatedCNY732million(USD102million)indisasterrelieffundstosupporttherecoveryofagriculturalproduction,followingcropdamageandfloodingbyTyphoonDoksuriinlateJuly.Thefundswillbedistributedacrossnineprovincestosupportagriculturalfloodcontrolanddisasterreliefefforts,aswellaspost-disasteragriculturalproduction,andwillhelpsubsidizetheprocurementofseeds,seedlings,fertilizersandpesticides,aswellasoperationalservicesthatwillhelpfarmersresumetheiragriculturalactivitiesandrepairaffectedfacilities.Removedanti-dumpingandanti-subsidytariffsonbarleyimportsfromAustralia.Chinahadimposedan80.5percenttariffonAustralianbarleyduringescalatingdiplomatictensionsin2020.AllocatedCNY2.4billion(USD329.5million)tosupportmaizeandsoybeanfarmersinthenorthofthecountryinthepurchaseoffertilizersandpesticides.Thesupportisdesignedtoenhancecropresilienceandreducelosses,aswellastoincreaseyields.Increasedthewheatminimumpurchasepricefor2024toCNY2360(USD323)pertonne,anincreaseofCNY20(USD2.7)pertonneover2023.Approved37geneticallymodifiedmaizeseedvarietieswiththeaimofofincreasingdomesticproductionandreducinggrainimports.AnnouncedtheprovisionofEUR60million(USD66million)fromtheEuropeanUnionandtheFrenchDevelopmentAgencytoexpandsilosforwheatstorage.ApprovedaUSD700millionfinancingfacilitytosupportfurthergrainimports.Signedafive-yearagreement,worthUSD100millionperyear,withaUnitedArabEmirates-basedagribusiness(AlDahara)andtheAbuDhabiExportsOfficetofinancemillingwheatimports.ThemeasureaimstosecureEgypt’swheatsupplyaspartofthecountry’seffortstoensurefoodsecurity.COUNTRYCOMMODITYDATEPOLICYDESCRIPTIONEuropeanUnionINSTRUMENTHungaryGrainsJun-23IndiaImportpolicyExtendedthesuspensionofimportduties,quotasandtradedefencemeasuresonUkraine'sexportstotheGrainsJun-23EuropeanUnion(AutonomousTradeMeasures)andwillphasethemouton15September2023.TheseGovernmentmarketmeasuresapplytofouragriculturalproducts:wheat,maize,rapeseedandsunflowerseeds.Duringthisperiod,GrainsSep-23interventiontheproductscanbecirculatedfreelyinallEUMemberStates,withtheexceptionofBulgaria,Hungary,Poland,GrainsOct-23RomaniaandSlovakia,wheretransitisonlypermittedthroughthegeneralcustomstransitprocedure.MaizeOct-23ImportpolicyGrainsSep-23GovernmentmarketApprovedemergencysupportmeasuresforcerealsandoilseedproducersinBulgaria,Hungary,Poland,GrainsMay-23interventionRomaniaandSlovakia.TheaidprovidesgrantstofarmersproducingcerealsandoilseedtocompensatefortheGrainsMay-23GMOpolicyeconomiclossescausedbyincreasedimportsfromUkraine.Aidhasbeendirectedasfollowing:EUR9.7millionMaizeandsorghumJun-23Importban(USD10.6million)toBulgaria,EUR15.9million(USD17.3million)toHungary,EUR39.3million(USD42.8WheatJun-23million)toPoland,EUR29.7million(USD32.3)toRomaniaandEUR5.2million(USD5.7million)toSlovakia.WheatJun-23AnnouncedthatitwouldlifttemporaryrestrictionsonUkraine'sexportsofwheat,maize,rapeseedandWheatAug-23sunflowerseedstoBulgaria,Hungary,Poland,RomaniaandSlovakia.Ukrainehasagreedtointroducemeasureswithin30daystoavoidasurgeinshipments.ApprovedasupportprogrammeofEUR132.2million(USD139million)forPolishgrainandoilseedfarmersaffectedbyimportsfromUkraine.AuthorizedthreegeneticallymodifiedmaizevarietiesandrenewedtheauthorizationforanothergeneticallymodifiedmaizevarietyasfoodandanimalfeedbutnotforcultivationintheEuropeanUnion.Announcedtheextensionofanimportbanonwheat,maize,rapeseedandsunflowerseedsfromUkraineaftertheEuropeanCommissiondecisiontonotextendtheembargoonUkrainiangrains.ProductionsubsidyAnnouncedasubsidyofINR38000crore(USD461.74million)fortheKharif(summer-sown)cropstofulfilitscommitmenttoprovidequalityandsubsidizedphosphaticandpotassicfertilizerstofarmers.NFOOVOEDMOBUERTL2O0O2K313GovernmentinterventionApprovedanewgrainstorageprogrammewortharoundINR1trillion(USD12billion),inanefforttoboostGovernmentwarehousecapacity.TheprogrammeaimstoincreaseIndia’sstoragecapacityby70milliontonnes,bringingtheprocurementtotalto215milliontonneswithinthenextfiveyears.StockspolicyApprovedincreasesinminimumsupportprices(MSP)for2023/24Kharifcrops.MaizeincreasedfromINR1962toINR2090perquintal(fromUSD237.8toUSD253.3pertonne)andsorghumfromINR2970toINR3180perExportquotaquintal(fromUSD360toUSD385.4pertonne).GovernmentmarketImposedanimmediatestockholdinglimitonwheat,effectiveuntilMarch2024,inanefforttobringdowninterventionprices.Thegovernmenthasalsodecidedtorelease1.5milliontonnesofwheattobulkconsumersandtradersfromcentralbatchesinthefirstphaseundertheOpenMarketSalesScheme.Thestocklimitappliestotraders,wholesalers,retailers,largechainretailersandprocessors.Approvedexportsofwheatandbrokenricetoselectedcountriesfollowingtheirrequesttoallowgrainshipments.In2022,Indiabannedtheexportofwheatandbrokenriceinanefforttolowerlocalprices.Indianexporterswillneedtobidfortheallocatedquota.Announcedthatitwouldsell5milliontonnesofwheatand2.5milliontonnesofricewithtotheaimofcurbingdomesticpriceinflation.Thecommoditieswillbesoldonopenmarketsthroughelectronicauctions,andsaleswillbephasedinovertime.ThegovernmentalsoindicatedthatitwouldreducethereservepriceforthesalesbyINR200perquintal(USD24pertonne),resultinginanadjustedpriceofINR2900perquintal(USD350pertonne).GrainsMajorpolicydevelopments14FNOOOVDEMOBUETRLO20O2K3COUNTRYCOMMODITYDATEPOLICYDESCRIPTIONIndiaWheatSep-23INSTRUMENTJapanKazakhstanWheatOct-23GovernmentinterventionAnnouncedthattraders,wholesalersandlargeretailerswouldbeallowedtomaintainnomorethanKenya2000tonnesofwheat.FirmswithstocklevelsthatexceedthenewlimithavebeengrantedthirtydaystocomeKyrgyzstanWheatSep-23Governmentintocompliance.WheatSep-23procurementMexicoWheatJun-23GovernmentAnnouncedanincreaseintheMSPofsixRabi(winter-sown)crops,includingwheatandbarley,forthe2024/25MaizeJul-23procurementmarketingseason.WheatpricesincreasedfromINR2125perquintal(USD255.2pertonne)toINR2275perMoroccoBarley,oatsandryeSep-23Importbanquintal(USD273.2pertonne)andbarleypricesfromINR1735perquintal(USD208.4pertonne)toINR1850NigeriaWheatSep-23Importdutyperquintal(USD222.2pertonne).MaizeMay-23WheatMay-23ProductionsubsidiesAnnouncedthatthesellingpriceofimportedwheatdestinedformillerswouldbesetatJPY68240(USD461)MaizeJun-23pertonnefrom1October,adecreaseof11.1percentfromtheprevioussixmonths–JPY76750(USD519)Exportbanpertonne.WheatJun-23ExportbanAug-23GovernmentmarketExtendedabanonwheatimportsbyroadandrail,whichwillapplyforasix-monthperiodbeginningonWheatSep-23intervention11October.TherestrictionsapplytothirdcountriesandtoEurasianEconomicUnioncountries,butexemptWheatJul-23Importtariffimportsbyraildestinedforlicensedelevators,grainprocessorsandpoultrycompanies.Maize,sorghumandwheatImporttariffLoweredthewheatimportdutyfrom35to10percenttohelpaddresshighfoodpricesinthecountry.ImportsubsidyAnnouncedafertilizersubsidyprogrammethatwouldlowerthepricefromKES3500(USD24.7)toKES2500(USD17.7)perbag.Thisinterventionwouldsignificantlyreducethepriceofmaizeflourandothercommoditiesandincreasefarmers'income.ThegoalisthetransformationofKenyanagriculturefromsubsistencetoacommerciallyandgloballycompetitiveindustry.Announcedatemporarybanofsixmonthsonbranandgrainfodder,barleyandoats.Therestrictiondoesnotapplytore-export,transitorhumanitarianassistance.Imposedasix-monthbanonexportsofwheatflourandfood-qualitywheatinordertoensurethecountry'sfoodsecurityandstabilizemarketpricesforfoodproducts.Announcedthepurchaseof1milliontonnesofwhitemaizefromsmallproducersinSinaloastate.TheprocurementpricewassetatMXN6965(USD399.2)pertonne.Announcedplanstoremovewheatandwheatflourfromthe”basicbasket”list,whichistemporarilyexemptedfromimporttariffs.Imposeda50percenttariffonwhitemaizeimportsuntiltheendoftheyearinordertoboostdomesticproductionandpreventimportsofgeneticallymodifiedmaize.ThisdecisioncomesamidatradedisputebetweenMexicoanditsNorthAmericatradingpartners,CanadaandtheUnitedStates,overtheissueofgeneticallymodifiedmaize.Announcedaprogrammetosupportwheatimportstoeasetheimpactofadevastatingdroughtbyprovidingsubsidiestoimporterseverymonthfrom1Julyto30September.ThesubsidywillcoverthedifferencebetweenthecostofwheatandthereferenceimportpriceofMAD270perquintal(USD271.6pertonne).Thesubsidywillfacilitateimportsofupto2.5millionmetrictonnesofmilledwheat.ImportsubsidyEffectivefrom1August,thebaselineforissuingsubsidiesisbasedonthemostcompetitively-pricedplaceoforiginamongArgentina,theEuropeanUnion(FranceandGermany)andtheUnitedStates.ImportsubsidyAnnouncedtheprovisionofimportsubsidiesforupto2milliontonnesofmillingwheatbetween1OctoberProductionsupportand31December2023.Providedfarminputs,suchasfertilizers,seedsandagrochemicals,throughtheNationalAgriculturalGrowthScheme(NAGS)toincreasetheproductionofwheat,rice,maize,sorghumandsoybeansbysmall-scalefarmers.Theprogrammeaimstoassistmorethan250000wheatgrowerstocultivatearound250000hectares.Theaimistoboostfoodreservesandreducedependenceonimports.COUNTRYCOMMODITYDATEPOLICYDESCRIPTIONPakistanINSTRUMENTPeruWheatSep-23Approvedtheimportof700000tonnesofwheattothecountry'sprivatesectortoovercomelowImportquotadomesticsupplies.PolandWheatOct-23MaizeMay-23ImportquotaApprovedtheimportof1milliontonnesofmillingwheatfortheyear2023–24tomaintaintheMaizeJun-23strategicreserves.MaizeJul-23ImporttariffMaizeAug-23ImporttariffIncreasedtheimporttariffdiscountsapplicabletomaizeproductsfromUSD46toUSD50pertonne.MaizeSep-23ImporttariffGrainsJun-23ImporttariffDecreasedtheimporttariffdiscountsapplicabletomaizeproductsfromUSD50toUSD25pertonne.ImporttariffMaizeOct-23GovernmentIncreasedtheimporttariffdiscountsapplicabletomaizeproductsfromUSD25toUSD30pertonne.procurementGrainsSep-23GovernmentmarketDecreasedtheimporttariffdiscountsapplicabletomaizeproductsfromUSD30toUSD3pertonne.interventionDecreasedtheimporttariffdiscountsapplicabletomaizeproductsfromUSD3toUSD0pertonne.ImportbanPurchasedapproximately60percentofdomesticgrainsurplustohelpfarmersaffectedbythelargeinflowofRomaniaGrainsSep-23TradepolicyUkrainiancropstoPoland.MaizeandwheatOct-23ImportpolicyAuthorizedadomesticprogrammeworthPLN240million(USD59.2million)tosupportmaizefarmersaffectedBarley,May-23ProductionsupportbyimportsfromUkraine.maizeandwheatMay-23ExportdutyAnnouncedthedecisiontoextendtheimportbanonwheat,maize,rapeseedandsunflowerseedfromUkraineBarley,aftertheEuropeanCommissiondecisiontonotextendtheembargoonUkrainiangrains.RussianFederationmaizeandWheatJun-23ExportdutyOutlineda30-dayworkplanwithUkraineonagrainexportcontrolstrategytosafeguardtheinterestsofNFOOVOEDMOBUERTL2O0O2K315Barley,Jun-23ExportdutyRomanianfarmers.Thegovernmentindicatedthatitwouldestablishaclearimport-licensingprocedureMaizeandwheatwithinthistimeframe,withlicensesgrantedexclusivelytoRomanianfarmersandfoodprocessorsforJun-23Exportdutystockreplenishment,andnottointermediaries.AllimportswouldbesubjecttocomprehensivefoodBarley,safetyinspections.TheinitiativefollowsthedecisionoftheEuropeanCommissionon15SeptembertoliftmaizeandwheattemporaryrestrictionsonimportsofUkrainiangrainandotherfoodstuffstofiveEasternEuropeannations,includingRomania.Barley,maizeandwheatAdoptedanemergencydecreeregulatingwheat,maize,rapeseedandsunflowerseedimportsfromUkraine.AllocatedRUB10billion(USD130million)to65regionsofthecountrytofinancepartofthecostsoffarmersfortheproductionandsaleofwheat,rye,barleyandmaize.DecreasedexportdutiesonwheatfromRUB4644.4toRUB4525.4(fromUSD58.8toUSD57.29)pertonneandonbarleyfromRUB1559.1toRUB1224.7(fromUSD19.74toUSD15.5)pertonne.IncreasedexportdutiesonmaizefromRUB2565.8toRUB2753.6(fromUSD32.48toUSD34.86)pertonne.Theseexportdutiescameintoeffecton31May.DecreasedexportdutiesonwheatfromRUB4525.4toRUB2856.3(fromUSD56.01toUSD35.35)pertonne,onbarleyfromRUB1559.1tozero(fromUSD15.16toUSD0)pertonneandonmaizefromRUB2753.6toRUB1214.4(fromUSD34.08toUSD15.03)pertonne.Theseexportdutiescameintoeffecton7June.DecreasedexportdutiesonwheatfromRUB2856.3toRUB2629(USD34toUSD31.3)pertonneandonmaizefromRUB1214.4toRUB1189.9(USD14.5toUSD14.2).Thedutyonbarleyremainedzero.Theseexportdutiescameintoeffecton15June.DecreasedexportdutiesonwheatfromRUB2629toRUB2612.9(USD31.3toUSD31.1)pertonneandonmaizefromRUB1189.9toRUB1168.1(USD14.2toUSD13.9).Thedutyonbarleywassetatzero.Theseexportdutiescameintoeffecton21June.GrainsMajorpolicydevelopments16FNOOOVDEMOBUETRLO20O2K3COUNTRYCOMMODITYDATEPOLICYDESCRIPTIONINSTRUMENTBarley,DecreasedexportdutiesonwheatfromRUB2612.9toRUB2473.3(USD31.1toUSD29.5)pertonneandonmaizeandwheatJun-23ExportdutymaizefromRUB1168.1toRUB937.8(fromUSD13.9toUSD10.4)pertonne.Thedutyonbarleyremainedatzero.Theseexportdutiescameintoeffecton28June.Barley,Jun-23ExportdutymaizeandwheatIncreasedexportdutiesonwheatfromRUB2473.3toRUB2609.6(fromUSD27.4toUSD28.9)pertonne.Jul-23ExportdutyDecreasedexportdutiesonmaizefromRUB937.8toRUB932.7(USD10.4toUSD10.3)pertonne.ThedutyonBarley,barleyremainedatzero.Theseexportdutiescameintoeffecton5July.maizeandwheatIncreasedexportdutiesonwheatfromRUB2609.6toRUB2989.6(fromUSD28.6toUSD32.77)pertonneGrainsJul-23TradepolicyandonmaizefromRUB932.7toRUB1237.4(USD10.22toUSD13.56)pertonne.Thedutyonbarleyremainedzero.Theseexportdutiescameintoeffecton12July.RussianFederationBarley,Jul-23ExportdutymaizeandwheatJul-23ExportpolicyCeaseditsparticipationintheBlackSeaGrainInitiative,amechanismbrokeredinJuly2022bytheUnitedJul-23ExportpolicyNationsandTürkiyetofacilitatetheexportofover32milliontonnesofUkrainiangrain,oilseedsandotherWheatJul-23ExportdutyfoodstuffsthroughtheBlackSea.TheRussianFederationalsowithdrewsecurityguaranteesfornavigationinthenorthwesternpartoftheBlackSea.GrainsAug-23ExportdutyIncreasedexportdutiesonwheatfromRUB2989.6toRUB3022.6(fromUSD33.1toUSD33.5)pertonneandBarley,Aug-23ExportdutyonmaizefromRUB1237.4toRUB1923.2(fromUSD13.7toUSD21.3)pertonne.Thedutyonbarleyremainedmaizeandwheatatzero.Theseexportdutiescameintoeffecton19July.Aug-23ExportdutyBarley,DeclaredthatsomemaritimeareasoftheBlackSeaweretemporarilyunsafeforshippingandwouldbeclosedmaizeandwheatAug-23Exportdutyaftertheendofthe"graindeal."Barley,Aug-23ExportdutyContinuedtosupplyAfricawithfoodandfertilizerandreplacedUkrainianexportsofgraintoAfricadespitemaizeandwheatsanctions.Sep-23ExportdutyBarley,DecreasedexportdutiesonwheatfromRUB3022.6toRUB2712.1(fromUSD33.5toUSD30.1)pertonneandmaizeandwheatonmaizefromRUB1923.2toRUB1598.6(USD21.3fromtoUSD17.7)pertonne.Thedutyonbarleyremainedatzero.Theseexportdutiescameintoeffecton26July.Barley,maizeandwheatDecreasedexportdutiesonwheatfromRUB2712.1toRUB2681.8(fromUSD30.1toUSD29.7)pertonneandonmaizefromRUB1598.6toRUB1596.7(fromUSD17.7toUSD17.7)pertonne.ThedutyonbarleyremainedBarley,atzero.Theseexportdutiescameintoeffecton2August.maizeandwheatIncreasedexportdutiesonwheatfromRUB2681.8toRUB2916.1(fromUSD28toUSD30.46)pertonneBarley,andonmaizefromRUB1596.7toRUB1758.7(fromUSD16.68toUSD18.37)pertonne.Thedutyonbarleymaizeandwheatremainedatzero.Theseexportdutiescameintoeffecton9August.IncreasedexportdutiesonwheatfromRUB2916.1toRUB3712.8(fromUSD29.38toUSD37.41)pertonneandonmaizefromRUB1758.7toRUB2175.1(fromUSD18.37toUSD21.92)pertonne.ThedutyonbarleyincreasedfromzerotoRUB439.6(USD4.43)pertonne.Theseexportdutiescameintoeffecton16August.IncreasedexportdutiesonwheatfromRUB3712.8toRUB4269.9(fromUSD39.46toUSD45.38)pertonne,onmaizefromRUB2175.1toRUB2495.3(fromUSD23.11toUSD26.52)pertonneandonbarleyfromRUB439.6toRUB860.3(fromUSD4.67toUSD9.14)pertonne.Theseexportdutiescameintoeffecton23August.DecreasedexportdutiesonwheatfromRUB4269.9toRUB3729.2(fromUSD44.9toUSD39.21)pertonne,onmaizefromRUB2495.3toRUB1931.5(fromUSD26.24toUSD20.31)pertonneandonbarleyfromRUB860.3toRUB431.8(fromUSD9.05toUSD4.54).Theseexportdutiescameintoeffecton30August.IncreasedexportdutiesonwheatfromRUB3729.2toRUB4007(fromUSD38.68toUSD41.71)pertonne,onmaizefromRUB1931.5toRUB1954.9(fromUSD20.04toUSD20.28)pertonneandonbarleyfromRUB431.8toRUB574.8(fromUSD4.48toUSD5.96)pertonne.Theseexportdutiescameintoeffecton6September.COUNTRYCOMMODITYDATEPOLICYDESCRIPTIONINSTRUMENTBarley,IncreasedexportdutiesonwheatfromRUB4007toRUB4493.7(fromUSD41.71toUSD46.78)pertonne,onmaizeandwheatSep-23ExportdutymaizefromRUB1954.9toRUB2465.2(fromUSD20.35toUSD25.66)pertonneandonbarleyfromRUB574.8toRUB931.7(fromUSD5.98toUSD9.7)pertonne.Theseexportdutiescameintoeffecton13September.Barley,Sep-23ExportdutymaizeandwheatIncreasedexportdutiesonwheatfromRUB4493.7toRUB4528.7(fromUSD46.42toUSD46.78)pertonneandonmaizefromRUB2465.2toRUB2616.4(fromUSD25.66toUSD27.03)pertonne.DecreasedexportBarley,Sep-23ExportdutydutyonbarleyfromRUB931.7toRUB789.5(fromUSD9.62toUSD8.16).Theseexportdutiescameintoeffectmaizeandwheaton20September.RussianFederationBarley,Sep-23ExportdutyIncreasedexportdutiesonmaizefromRUB2616.4toRUB3201.6(fromUSD27.25toUSD33.35)pertonnemaizeandwheatandonbarleyfromRUB789.5toRUB791.2(fromUSD8.22toUSD8.24)pertonne.DecreasedexportdutyonwheatfromRUB4528.7toRUB4527.5(fromUSD46.78toUSD47.11)pertonne.TheseexportdutiescameBarley,Oct-23Exportdutyintoeffecton27September.maizeandwheatIncreasedexportdutiesonwheatfromRUB4527.5toRUB4564.6(fromUSD46.17toUSD46.55)pertonneBarley,Oct-23ExportdutyandonbarleyfromRUB791.2toRUB1251.1(fromUSD8.07toUSD12.76)pertonne.DecreasedexportdutymaizeandwheatonmaizefromRUB3201.6toRUB2853.8(fromUSD32.65toUSD29.1)pertonne.TheseexportdutiescameSaudiArabiaOct-23Exportdutyintoeffecton4October.Barley,Jul-23TradepolicymaizeandwheatSep-23ImportbanIncreasedexportdutiesonwheatfromRUB4564.6toRUB5224(fromUSD45.5toUSD52.07)pertonneandonmaizefromRUB2853.8toRUB3120.8(fromUSD28.45toUSD31.11)pertonne.DecreasedexportdutyBarleyandmaizeonbarleyfromRUB1251.1toRUB1166.1(fromUSD12.47toUSD11.62)pertonne.Theseexportdutiescameintoeffecton11October.GrainsIncreasedexportdutiesonwheatfromRUB5224toRUB5734.7(fromUSD53.47toUSD58.7)pertonneandSlovakiaGovernmentmarketonmaizefromRUB3120.8toRUB3271.8(fromUSD31.94toUSD33.49)pertonne.DecreasedexportdutyoninterventionbarleyfromRUB1166.1toRUB772.6(fromUSD11.94toUSD7.91)pertonne.TheseexportdutiescameintoWheatSep-23effecton18October.NFOOVOEDMOBUERTL2O0O2K317SriLankaGrainsSep-23ImportpolicyDecreasedexportdutiesonwheatfromRUB5734.7toRUB5297.7(fromUSD59.9toUSD55.33)pertonne,MaizeAug-23ImporttariffonbarleyfromRUB772.6toRUB0(fromUSD8.07tozero)pertonneandonmaizefromRUB3271.8toRUB2218.1(fromUSD(USD34.17toUSD23.17)pertonne.Theseexportdutiescameintoeffecton25October.SignedcontractsworthSAR926million(USD246.7million)tofinanceimportsofseveralagriculturalproducts,includingbarleyandmaize,toincreasenationalfoodsecurity.ExtendedthebanintroducedinAprilonwheat,maize,rapeseedandsunflowerseedimportsfromUkraineuntiltheendof2023.ThedecisioncomesaftertheEuropeanCommission’sdecisiontonotextenditsbanonimports.IntroducedadditionalfinancialassistanceaimingtocompensatedomesticwheatfarmersaffectedbyimportsfromUkraine.TheAgriculturalPayingAgencywillautomaticallydisbursethesepaymentsuntiltheendof2023,utilizingdatafromtheIntegratedAdministrationandControlSystemtoidentifyfarmerswhogrewwheatontheirlandin2022.Ifthesefarmershaveappliedfordirectareapaymentsin2023,theywillreceiveaminimumofEUR38.42(USD43)perhectare.Agreedtoestablishalicensingsystemfortradeingrains,whichwouldallowtheimportbanstobeliftedoncethesystemisestablished.AnnouncedthedecreaseofthemaizeimporttarifffromLKR75toLKR25perkg(USD230toUSD80pertonne).GrainsMajorpolicydevelopments18FNOOOVDEMOBUETRLO20O2K3COUNTRYCOMMODITYDATEPOLICYDESCRIPTIONTunisiaGrainsJul-23INSTRUMENTSignedaloanworthUSD87.1millionfromtheAfricanDevelopmentBankGroup.ThefundingwillallowtheTürkiyeGrainsGovernmentmarketgovernmenttoimplementtheCerealSectorInclusiveandSustainableDevelopmentSupportProject.ThelatterUkraineinterventionaimstoincreasecerealproductivityandupgradestoragecapacity.VietNamBarleyandwheatZimbabweMaizeAug-23ProductionsupportAnnouncedadevelopmentstrategytoincreasethecerealcultivationareato1.2millionhectaresby2035fromMaizeandwheatthecurrentaverageoflessthan900000hectares.Theplanemphasizesgrowingwheaton650000hectares,GrainsJun-23Governmentincluding500000hectaresfordurumwheatand100000hectaresforsoftwheat.BarleycultivationissettoGrainsAug-23procurementexpandfrom341000to500000hectares,andtriticalewillcover50000hectares.ThestrategyaimstoensureWheatSep-23Governmentthesustainabledevelopmentofcerealproduction,financestakeholders,enhancevaluechainsandimprovetheMaizeandwheatMay-23procurementeconomicandsocialsectorenvironments.Jul-23ImportpolicyAnnouncedthe2023purchasepricesandpoliciesforgrains,includingwheatandbarley.ThepurchasepriceSep-23wassetatTRY8250(USD349.9)pertonneforbreadwheatandatTRY7000(USD296.9)pertonneforbarley.May-23ExportpolicySetthe2023purchasepriceformaizeatTRY6000(USD220.8)pertonne,downfromTRY5700(USD314.6)Governmentmarketpertonneinthepreviousyear.interventionIntroducedthemandatoryregistrationofwheatdurumandmaizeexportvolumesforshipmentduringImportpolicyOctober,withapplicationsacceptedbetween25and29September.ImportpolicyCancelledexportlicensingrequirementsforanumberofagriculturalproducts,includingmillet,oatsandrye.SignedamemorandumofagreementwithLagosFreeZonetobuildagrainterminalatLekkiport,Nigeriafollowingthedestructionofitsfoodexportterminal.ThegrainterminalwillassisttheUkrainianagrariansectortocontinuetheirsupplytoNigeriaandtherestoftheAfricancontinent.Issuedaregulationeasingphytosanitaryrestrictionsonfieldthistleseedsthathasbeeninforcesince1November2018.ThemeasurewassettoeaseVietnameseimportsofwheatfromtheNorthernHemisphere.Announcedasix-monthsuspensionofimportlicenses,importdutiesandimporttaxesonseveralbasiccommodities,includingmaizemealandwheatflour.ThefullcollectionstartinginJanuary2011isavailableat:https://www.fao.org/markets-and-trade/commodity-policy-archive/en/?groupANDcommodity=grainsRICE:MAJORPOLICYDEVELOPMENTSMID-MAY2023TOMID-OCTOBER2023COUNTRYDATEPOLICYDESCRIPTIONArgentinaJul-23INSTRUMENTSep-23ExportpromotionDecidedthattheCentralBankwouldestablishamechanismallowingexportersofcommoditiescoveredbythe2023roundoftheExportIncreaseProgramme(ProgramadeIncrementoExportador),includingExporttaxeshusked,semi/whollymilledandbrokenrice,tosettletransactionswithapreferentialexchangerateofARS340to1USDuntil31August2023.BangladeshMay-23ProductionsupportMay-23Exportban,exportrestrictionsRemovedthe3–5percentexporttaxesappliedonhuskedandsemi/whollymilledrice(parboiled,Oct-23Governmentprocurement,purchasingpricespolished/glazed,inpackagesof2kgorlessandotherwise).Inthecaseofbrokenrice,theexporttaxeswereloweredfrom4.5–5percentto2percent,whileforpaddy(notforsowing),exporttaxeswerecutBurkinaFasoSep-23Productionsupport,importquotafrom5–6percentto3–4percent,dependingonwhetherthericeisparboiledorotherwiseandsoldinpackagesof2kgorless.Thedecisiontookeffecton7September2023.Sep-23ImportquotaAnnouncedthatitwouldallocateBDT332million(USD3.0million)tosupportthecultivationofpaddyNFOOVOEDMOBUERTL2O0O2K319China(mainland)duringthe2023/24Amancycle.Thefundswouldgotoprovide490000farmerswithfivekgofseedsand20kgoffertilizersatnocost.Mid-May-23toStockreleaseAug-23Accordingtopressreports,decidedthatitwouldconsiderpermittingexportsofaromaticrice(whichhadbeenbannedsinceJuly2022)onacase-by-casebasis.Decidedtopurchase400000tonnesofparboiledrice,200000tonnesofpaddyand100000tonnesofwhitericefromthe2023/24Amanharvest,startinginNovember.TheprocurementdrivewouldofferBDT30,43and44(USD269,386,and395pertonne)perkgofpaddy,whiteandparboiledrice,respectively.LaunchedtheOffensiveAgropastoraleetHalieutique2023-2025,withtheaimofachievingfoodsovereigntyby2025bybolsteringtheproductionofeightstrategicproducts,includingrice.TheprogrammewouldentailtheinvestmentofXOF592billion(USD947.2million)fromthepublicandprivatesectors.Inthecaseofrice,itwouldaimtoachievefullnationalself-sufficiencybyboostingoutputto1milliontonnesofpaddy.Tomeetthisobjective,theprogrammewillpromotethecultivationofhighyieldingvarietiesanddevelopnearly8000hectares,primarilyinSamendéni,ofnewlandforirrigatedricecultivation.Another44000hectareswouldalsocomeunderlowlandcultivationacrossthevariousregions.OtherreformsenvisionedbytheschemeincludetheestablishmentofaFondsdeDéveloppementAgropastoral(FDAP)tofinanceactivities,expansionofagropastoralinsurancetothetargetedproducts,facilitatedparticipationofagriculturalcooperativesinpublicfoodpurchasesthroughcontractfarmingarrangementsandtheintroductionofaquotasystemforriceimportersrequiringthemtopurchaselocalproduce.Announcedthatitwouldleavethetariff-rateimportquotaforriceunchangedat5.32milliontonnesin2024.Sold1.52milliontonnesofpaddyfromstatereserves,outofatotalof12.93milliontonnesofferedthrough16auctionsheldbetween16Mayand29August2023.RiceMajorpolicydevelopments20FNOOOVDEMOBUETRLO20O2K3COUNTRYDATEPOLICYDESCRIPTIONColombiaJul-23INSTRUMENTSep-23Supportprices,warehousereceiptsprogramAllocatedCOP25billion(USD6.0million)toimplementthestorageincentiveprogrammefor2023Côted’IvoireSep-23second-semestercropsuntil31December2023,oruntilallottedfundsareexhausted.UndertheEcuadorJul-23Pricecontrolsscheme,COP39900(USD9.6)wouldbegrantedtocoverthemonthlycostofstoringatonneofdryEuropeanUnionSep-23Exportbanpaddy,oritshuskedormilledequivalent,foramaximumofthreemonthsandonconditionthatGambiaJun-23Importtariff,importquotathesesuppliesarepurchasedatreferencepricesofCOP1545600–1688000(USD371-405)pertonne.ImporttariffUpto170000tonnesofdrypaddy(oritsequivalent)andpaddyseedsareeligibletobecoveredbyGhanaAug-23Foodsubsidiesthescheme.GuineaJul-23Productionsupport,financeandcreditfacilities,AdjustedtheretailpricecapssetinNovember2022,settingthematXOF460–630(USD0.74–1.01)Guinea-BissauAug-23governmentprocurementperkg,dependingonthequalityandoriginoftheproduct,forAbidjanandlocaleswithina30-kilometreradius.ExportbanPricecontrolsBannedexportsoflocally-producedriceandothercommoditiesfrom18Septemberuntil31December2023.Decidedtoallow63246tonnesofpaddy(notforsowing)andsemi/whollymilledricetobeimported,freeofdutyandnotsubjecttothePriceBandsystem,until31December2023,effectivefrom17July2023.Raisedtariffsonnon-basmatihuskedriceimportedoutsideexistingtradeagreementsfromEUR30(USD31.5)toEUR42.5(USD44.6)pertonne,effectivefrom6September2023.Announcedthat,withtheaimofmakingriceavailableataffordableprices,theNationalFoodSecurityProcessingandMarketingCorporation,incollaborationwiththeEcotraGroupLtd,hadimported5000tonnesof100%brokenrawwhiterice(SARROrice).ThesesupplieswouldbesoldatGMD1490–1600fora50kgbag(USD0.45toUSD0.48perkg),dependingonthedistributionmarket.LaunchedPhaseIIofthePlantingforFoodandJobscampaign,whichistobeimplementedforfiveyearswiththeaimoftransformingagriculturebysupportingproductionof11commodities,includingrice.Underthesecondphaseofthescheme,theGovernmentwouldnolongerprovideseedsandfertilizersatsubsidizedpricestosmallholderfarmersandsettletheassociatedpaymentswithinputdistributors.Instead,itwouldestablishaninputcreditsysteminvolvingtheprivatesector.Itwouldalsoprovidesupportservices,logisticalandinfrastructuralchannelstohelpraiseproductivitylevelsandreducepost-harvestlosses.Increasedfocuswouldbelaidoncommercialfarming,includingthroughtheestablishmentofAgricultureZones.Tohelpproducersmarkettheirproduce,theprogrammewouldincludein-kindpaymentarrangementsforproduceharvestedbyregisteredfarmers,purchasesbytheNationalFoodBufferStockCompany(NAFCO)toservicepublicdistributionneeds,andlistingofproductsforpurchasebytheGhanaCommoditiesExchange.Upto1.2millionfarmersareexpectedtoenrollintheprogrammeduringitsfirstyearofimplementation,with210000farm-relatedjobsexpectedtobecreatedannuallybytheschemeinitsremainingfouryearsofimplementation.Bannedexportsofriceandotheragriculturalproductsforaperiodofsixmonths,startingon17July2023.Loweredthepriceofa50kgbagof100%brokenricefromXOF22500(USD0.72perkg)toXOF17500(USD0.56perkg).COUNTRYDATEPOLICYDESCRIPTIONMay-23INSTRUMENTAmendeditsexportpolicytospecifythat,whileshipmentsoffullybrokenriceremainedprohibited,Exportrestrictions,exportquotabrokenriceexportscouldbepermittedbytheGovernmentofIndiatoothercountriestomeettheirfoodsecurityneeds,baseduponrequestbytheirgovernments.May-23ExportrequirementsDecidedthatCertificatesofInspectionbytheExportInspectionCouncil/ExportInspectionAgencyIndiaJun-23Minimumsupportpriceswouldnotbemandatoryforexportsofbasmatiandnon-basmatiricetoEuropeancountriesotherJun-23Exportrestrictions,exportquotathanmembersoftheEuropeanUnion,Iceland,Liechtenstein,Norway,SwitzerlandandtheUnitedJun-23StockreleaseKingdomofGreatBritainandNorthernIreland.ThemeasuretookimmediateeffectandwillbevalidforJul-23Exportrestrictionssixmonths.NFOOVOEDMOBUERTL2O0O2K321Jul-23Exportrestrictions,exportquotaRaisedminimumsupportprices(MSPs)forpaddyforthe2023/24season.Inthecaseofcommonpaddy,Aug-23StockreleasetheMSPwasraised7percentabovethe2022/23leveltoINR21830(USD262)pertonne,whileforAug-23Exportrestrictions,exporttaxesGradeApaddy,theincreasewas6.9percenttoINR22030(USD264)pertonne.Aug-23ExportrestrictionsEstablishedaproceduretoallocateexportquotasforanundisclosedquantityofbrokenricetobeshippedtoGambia,IndonesiaandSenegalasanexceptiontotheexportbanonbrokensinstitutedinSeptember2022.Themovefollowedthereceiptofimportrequestsfromthegovernmentsofthethreeimportingcountries.AnnouncedthattheFoodCorporationofIndiawouldconducte-auctionsofriceandwheattocurbincreasesindomesticprices.Inthecaseofrice,theauctionswouldbeconductedundertheOpenMarketSaleScheme(Domestic)asof5July2023,withabasepriceofINR31000(USD372)pertonne.Bannedexportsofsemi/whollymillednon-basmatiwhite(non-parboiled)rice(ITCHScode10063090).Themeasurebecameeffectiveon20July2023,butwouldnotapplyforshipmentsthat,priortotheprohibition,werealreadyattheloadingstageorhadfiledshippingbills,hadvesselsalreadyberthed/arrived/anchoredorwheretheirconsignmenthadalreadybeenhandedtocustoms.Inaddition,itstipulatedthatexportsofnon-basmatiwhitericewouldbealloweduponpermissiongrantedbytheIndianGovernmentforcountriestomeettheirfoodsecurityneeds,uponrequestsfromgovernments.Announcedthatitwouldopenapplicationstoexport100000tonnesofbrokenricetoMaliand48804tonnesofbrokenricetoBhutanduringthe2023/24fiscalyear.TheshipmentswouldbeexemptedfromtheexportbanonbrokensinstitutedinSeptember2022.TheannouncementfollowedthereceiptofimportrequestsfromtheGovernmentsofMaliandBhutan.AnnouncedthattheFoodCorporationofIndiawouldoffload2.5milliontonnesofricethroughtheOpenMarketSaleScheme(Domestic)schemeandthatthebasepriceofauctionsundertheschemewouldbeloweredby6.5percenttoINR29000(USD348)pertonne.Imposeda20percentexportdutyonnon-basmatiparboiledrice(ITCHScode10063010),effectivefrom25Augustto15October2023.AnnouncedthatithadinstructedtheAgriculturalandProcessedFoodProductsExportDevelopmentAuthoritytoregisterbasmatiexportswithaFreeonBoard(FOB)valueofUSD1200pertonneoraboveonly.Basmatishipmentsvaluedbelowthislevelweretobesubjecttoabeyanceandpotentiallyevaluatedbyacommitteetoascertainthattheydidnotconstitutenon-basmatiwhitericeshipmentscircumventingtheJulyexportbanonthistypeofricebybeingmisclassifiedasbasmati.Accordingtotheannouncement,thecommitteewouldreportitsfindingswithinamonthtoinformdecisionsregardinglower-pricedbasmatiexports.Rice22FNOOOVDEMOBUETRLO20O2K3COUNTRYDATEPOLICYMajorpolicydevelopmentsAug-23INSTRUMENTDESCRIPTIONExportrestrictions,exportquotaPermittedexportsof79000tonnesofnon-basmatiwhitericetoBhutan,14000tonnesofnon-basmatiIndiaSep-23Exportrestrictions,exportquotawhitericetoMauritiusand50000tonnesofnon-basmatiwhitericetoSingapore.TheshipmentswouldOct-23Exportrestrictions,exporttaxesbeexemptedfromtheexportbanonnon-basmatiwhitericeputinplaceinJuly2023andwouldbeOct-23ExportrestrictionsconductedthroughtheNationalCooperativeExportsLimited(NCEL).IndonesiaOct-23ExportrestrictionsPermittedexportsof75000tonnesofnon-basmatiwhitericetotheUnitedArabEmiratethroughtheNationalCooperativeExportsLimited(NCEL),asanexceptiontotheexportbanonnon-basmatiwhiteKenyaJun-23ImportagreementriceputintoplaceinJuly2023.KyrgyzstanJul-23FoodsubsidiesAug-23ImportagreementDecidedthatthe20percentexportdutyonnon-basmatiparboiledrice(ITCHScode10063010)wouldOct-23Importquotaremaininplaceuntil31March2024,insteadof15October2023asindicatedinAugust2023.Jun-23ImporttariffIndicatedthattheUSD1200pertonnefloorpriceusedbytheAgriculturalandProcessedFoodProductsSep-23ExportbanExportDevelopmentAuthoritytoregisterbasmatishipmentssincelateAugust2023wasunderactiveconsiderationbythegovernmentandthatthearrangementwouldremaininplaceuntiladecisionwastakenbythegovernment.Approvedatotalof1.03milliontonnesofnon-basmatiwhitericeexportstosevencountriesthroughtheNationalCooperativeExportsLimited(NCEL),asanexceptiontotheexportbanonthistypeofriceputinplaceinJuly2023.Thevolumesconsistof95000tonnesdestinedtoNepal,190000tonnestoCameroon,142000tonnestoCoted’Ivoire,142000tonnestoGuinea,170000tonnestoMalaysia,295000tonnestothePhilippinesand800tonnestoSeychelles.ReportedlyreachedamemorandumofunderstandingwithIndiagivingIndonesiatheoptiontoimportupto1milliontonnesofrice.Importsundertheagreementwouldbeontopofthe2.0milliontonneimportvolumeassignedtoBulogfor2023.Decidedthatitwoulddistribute10kgofricepermonthto21.353millionhouseholdsforanotherthreemonths,underaschemethatsawsimilarrationsdistributedtothesehouseholdsbetweenMarchandJune2023.ThissecondroundofdistributionswereoriginallyslatedforOctobertoDecember2023,butwerebroughtforwardtoSeptembertoNovember2023.Agreedtopurchase125000tonnesofricefromCambodiaandtorevisethememorandumofunderstandingonricetradewithCambodia,givingIndonesiatheoptiontopurchase250000tonnesofCambodianriceperyearforfouryears.Issuedstatementsindicatingthatitwouldimportanadditional1.5milliontonnesofrice,ontopofthe2.0milliontonneimportvolumeassignedtoBulogfor2023.RenewedtheexemptionoftheCommonExternalTariff(CET)oftheEastAfricanCommunityonriceimportsforanadditionalyear.Assuch,importsofpaddy,husked,semi/whollymilledandbrokenricewouldcontinuetoaccruea35percentimporttariff(orUSD200pertonne,whicheverishigher),ratherthanthe75percenttariff(orUSD345pertonne)thattheywouldaccrueundertheCET.Bannedexportsofriceandotheragriculturalproductsforaperiodofsixmonths,startingfrom4September2023.COUNTRYDATEPOLICYDESCRIPTIONAug-23INSTRUMENTMalaysiaSep-23ProductionsupportAnnouncedthatitwouldraiseassistancetoriceproducersunderthePaddyPriceSubsidySchemefromOct-23MarketmanagementMYR360(USD76)toMYR500(USD106)pertonne,effective9August2023.MyanmarFoodsubsidiesNepalOct-23Announcedthat,amongstepsithadtakentostabilizethesupplyofrice,ithadrequestedthatNigeriaBudgetaryallocations,productionsupport,processorsandwholesalersincreasethevolumesofricetheymarketby20percentunderaLocalWhiteSep-23supportprices,cropinsuranceRiceSpecialProgramme.Forthepurpose,Bernaswouldincreaseitsreleasesofricetowholesalers,withJul-23theschemesettorunintwophases,startingon8Septemberand15September2023.Exportrequirements,exportrestrictionsJul-23MinimumsupportpricesAnnouncedthatitwoulddestineMYR400million(USD85million)toprovideanMYR950(USD201)outlayforatonneofimportedwhitericeinSabahandSarawakfrom5October2023.ThemeasureaimsProductionsupport,stockrelease,consumerpricestohave10kgofimportedricesoldatMYR31(USD0.7perkg)attheretaillevelinthetwostates.TheFederalAgriculturalMarketingAuthoritywouldalsotakestepstoincreasedistributionoflocalwhiteNFOOVOEDMOBUERTL2O0O2K323riceinruralareas,whilegovernmentricepurchaseswouldbeconfinedtoimportedsupplies.Aspartofits2024budgetaryallocations,announcedthat,inadditiontoraisingassistancetopaddyfarmersunderthePaddyPriceSubsidySchemetoMYR500(USD106)pertonne,itwouldalsoincreasethepaddyproducerpricefloorbyMYR100(USD21)toMYR1300(USD275)pertonne.Itwasadditionallylookingtointensifyproductionbypilotingthecultivationoffivecycleseverytwoyearsingranaryareas,includingPerak,KedahandPerlis.Itwouldalsoincreaseincentivestosupportcultivationinhillpaddiesby25percenttoMYR50million(USD11million)tohavehillpaddiesextendover43000hectares.Furthermore,itwouldsetasideMYR50million(USD11million)asastart-upfundfortheSkimTakafulTanamanPadi,underwhich240000paddyfarmerscouldbecompensatedforlossesincurredasaresultofnaturaldisasters,amongothermeasures.Indicatedthatitwouldnotsuspendriceexportsbutthat,asof1September2023,anewexportlicensingsystemwouldbeputinplacerequiringpre-shipmentscreening.ThemovefollowedstatementsbyindustryrepresentativesinlateAugustindicatingthatatemporarybanonriceexportswasbeingcontemplated.Setminimumsupportprices(MSPs)forthe2023/24season.Inthecaseofcommonpaddy,theMSPwassetatNPR33620(USD249)pertonne,up7.5percentfromlevelssetfor2022/23.Ontheotherhand,theMSPforMotaDhanpaddywasset7.8percentabovethe2022/23levelatNPR31980(USD237)pertonne.Declaredastateofemergencyonfoodsecurity,indicatingthatallmatterspertainingtobasicfoodandwateravailabilitywouldfallwithinthescopeoftheNationalSecurityCouncil.Italsoannouncedaseriesofmeasuresthatitintendedtotaketoallaytheimpactsofinflationarypressureandtoensuresupplyoffoodataccessibleprices.Amongthese,itwouldtakeimmediatestepstoreleasefertilizersandgrainstofarmersandhouseholdsandtochannelpartofthesavingsgeneratedfromtheMay2023removalofsubsidiesonfuelintotheagriculturalsector.Whileitplannedtomake500000additionalhectaresofarablelandavailableforfarmingandlookedto11riverbasinsforyear-roundproductionofstaplesunderirrigation,itwouldalsotakestepstoshoreupsecurityforfarmsandfarmers,toimprovemechanization,landclearing,irrigationinfrastructureandfundingtheagriculturalvaluechain,particularlyforagriculturalinputs.ItwouldalsoestablishaNationalCommodityBoardtoanalysefoodpricesandmaintainstrategicfoodreservesforpricestabilizationpurposes.Additionally,itwouldexplorealternativemeansoftransportation,includingrailandwatertransport,toreducefreightcosts,andwouldfacilitatetradebyremovingexistingbottlenecksandstimulatingexportcapacity.Rice24FNOOOVDEMOBUETRLO20O2K3COUNTRYDATEPOLICYMajorpolicydevelopmentsINSTRUMENTDESCRIPTIONJul-23ProductionsupportAnnouncedtheimplementationoftheNationalAgriculturalGrowthSchemeonAgro-Pocket(NAGS-NigeriaAP)inthestatesofNiger,Kebbi,Jigawa,Kano,andSokoto.Theprogramme,launchedinthecontextoftheAgriculturalTransformationAgendaSupportProgrammePhaseOne(ATASP-1)wouldreplacetheAug-23Foodsubsidies,stockreleaseGrowthEnhancementSupport(GES)initiative,andwouldaimtoincreasetheproductionofrice,maize,sorghumandsoybeanbyprovidinginputstosmall-scalefarmersduringthewetanddryseasons.ThePanamaOct-23Importrestrictionsprogrammewilltargetapproximately60000farmersintwenty-sixLocalGovernmentAreasacrosstheJun-23Importquotafivestates,whowillreceivefertilizers,seeds,andagrochemicalsthroughanICT-baseddeliveryplatform.Aug-23ImportagreementApprovedthedisbursementofNGA5billion(USD6.5million)foreachstateandtheFederalCapitalPhilippinesAug-23PricecontrolsTerritorytocounterhikesinfoodpricesandincreasesinthecostofpetroleumfollowingtheremovalofSep-23thelong-standingoilsubsidyinMay2023.ThemeasurewouldreportedlyalloweachstatetoprocurePricecontrols,marketingassistance100000bagsofrice,40000bagsofmaize,andfertilizersforpublicdistribution.Fifty-twopercentoftheRepublicofKoreaSep-23Governmentprocurement,purchasingpricesfundswouldbereleasedtostatesintheformofagrant,withthebalancetobepaidbacktothefederalPricecontrolsgovernmentwithin20months.Italsoannouncedthereleaseoffivetrucksofricetoeachfederalstate.Oct-23FoodaidMay-23StockreleaseLiftedrestrictionsthatprohibitedimportersof43commodities,includingrice,frompurchasingforeignMay-23exchangeontheNigerianForeignExchangeMarket.Inthecaseofriceand40otheritems,theserestrictionshadbeeninplacesinceJune2015,withtheaimofgeneratinglocalemploymentandreducingdemandforforeignexchangeforitemsthatcouldbelocallyproduced.Approvedanimportquotaof68040tonnesofpaddy,liabletoa3percentimporttariffandtobebroughtintothecountryby31August2023.Outofthatvolume,18144tonneswouldbeallocatedtotheInstitutodeMercadeoAgropecuario.AnnouncedthatithadenteredintotalkswithIndiaandVietNamtofacilitateimportsof300000–500000tonnesofricein2023.SetapriceceilingofPHP41(USD0.7)perkgforregularmilledriceandofPHP45(USD0.8)perkgforwell-milledrice,tobeapplicableuntilotherwisedecidedbythepresident.Inaddition,itinstructedtheDepartmentofTradeandIndustryandtheDepartmentofAgriculturetoensurethestrictimplementationofpricecaps,tomonitorandinvestigateabnormalpricemovementsandtoaidaffectedretailers.Inordertothwarthoardingandillegalriceimportationandtoensureconsumerprotectionandwelfare,theBureauofCustomswasalsodirectedtointensifyinspectionsandraidsofwarehousesandtofacilitateconfiscation,seizureorforfeitureofsmuggledrice,whilethePhilippinesCompetitionCommission,incoordinationwithotherinstitutions,wastotakemeasuresagainstcartelsandentitiesabusingadominantpositioninthemarket.Themeasurebecameeffectiveon5September2023.Announcedthatitwouldprovideaone-timefinancialoutlayofuptoPHP15000(USD264)tosmallriceretailersincurringlossesasaresultofthepricecapsapprovedforregularandwell-milledriceinlateAugust2023.RaisedtheeffectivebuyingpriceoftheNationalFoodAuthorityby21percentforcleandrypaddytoPHP23000(USD404)pertonneandby19percenttoPHP19000(USD334)pertonneforwetpaddy.ThislevelwouldincludeaPHP3000–4000(USD53-70)pertonneBufferStockIncentive(BSI)thatcouldbeadjustedandapprovedperprovinceonaweeklybasis,basedonprevailingex-farmpaddyprices.Liftedthepriceceilingsputinplaceonregularandwell-milledriceinlateAugust2023.AnnouncedthatitwoulddoubleitsfoodaiddeliveriesofricethroughtheWorldFoodProgrammeto100000tonnesperyearasof2024.Announcedthatitwouldrelease140000tonnesofricefromgovernmentreservesforfeedandalcoholproductionbytheendof2023.COUNTRYDATEPOLICYDESCRIPTIONINSTRUMENTRepublicofKoreaAug-23GovernmentprocurementAnnouncedthatitwouldpurchase400000tonnesofricefromthe2023harvestatmarketpricesExportbanbetween30Augustand31December2023.Ofthatvolume,10000tonnesofricewouldserveastheRussianFederationJul-23Importtariffcountry’scontributiontotheASEANPlusThreeEmergencyRiceReserve(APTERR).Productionsupport,financeandcreditfacilitiesRwandaJun-23ExportbanReintroducedthebanonexportsofpaddy,husked,semi/whollymilledrice,brokenrice,groatsandProductionsupportricemeal,exceptforthosedestinedtomemberstatesoftheEurasianEconomicUnion,until31ThailandSep-23December2023.ExportstrategyUnitedArabEmiratesJul-23RenewedtheexemptionoftheCommonExternalTariff(CET)oftheEastAfricanCommunityonimportsofsemi/whollymilledrice.Accordingly,semi/whollymilledricewillcontinuetoattractanimportdutyofUnitedStatesSep-2345percent(orUSD345pertonne,whicheverishigher)foranadditionalyearratherthanthe75percentofAmericaimporttariff(orUSD345permetrictonne)thatitaccruesundertheCET.VietNamMay-23Approvedathree-yeardebtmoratoriumforfarmers,atanestimatedcostofTHB33billion(USD0.9billion).Undertheinitiative,2.7millionfarmerswithoutstandingloansofuptoTHB300000(USD8268)wouldhaveprincipalandinterestpaymentssuspended,withthefirstphaseoftheprogrammesettorunfrom1October2023to30September2024.Bannedexportsandre-exportsofpaddy,husked,semi/whollymilledandbrokenriceoriginatinginIndiaandbroughtintothecountry,includingthroughfreezones,after20July2023.Therestrictionwillbevalidforfourmonths,startingfrom28July2023,andwouldbeautomaticallyextendedunlessotherwisedecided.Companieswishingtoexportorre-exportricenotoriginatinginIndiawouldalsohavetorequestanexportpermitfromtheMinistryofEconomy,whichwouldbeissuedwitha30-dayvalidity.AnnouncedthatproducerswouldreceiveasecondpaymentundertheRiceProductionProgramme,whichwasapprovedinDecember2022toaidricefarmerswhofacedhighproductioncostsduringthe2022/23season.ThemovewouldbringpaymentstoproducerstoatotalofUSD0.0128–0.0228perpound(USD0.028–0.503perkg).Approvedariceexportmarketdevelopmentstrategyto2030.Thedocumentlaysoutatargettoreducericeexportsto4.0milliontonnesby2030.Underthestrategy,thestructureofriceshipmentswouldbeadjustedsuchthatby2026–2030deliveriesoflowandmiddlegradeIndicaricewouldaccountfornomorethan10percentofoverallexports,higherqualityIndicaricefor15percent,glutinousricefor20percent,fragrant,Japonicaandotherspecialtyrice,combined,for45percent,andothertypesfor10percent.Itwouldalsoaimtohavetheproportionofbrandedexportsreach40percentby2026–2030.Inaddition,by2030,thecountrywouldseektohavetheshareofitsshipmentsdestinedforAsiaat55percent,forAfricaat23percent,fortheMiddleEastandEuropeat5percenteach,fortheAmericasat8percentandforOceaniaat4percent.NFOOVOEDMOBUERTL2O0O2K325ThefullcollectionstartinginJanuary2011isavailableat:https://www.fao.org/markets-and-trade/commodity-policy-archive/en/?groupANDcommodity=riceRiceMajorpolicydevelopments26FNOOOVDEMOBUETRLO20O2K3OILCRROPS:MAJORPOLICYDEVELOPMENTSMID-MAY2023TOMID-OCTOBER2023COUNTRYPRODUCTDATEPOLICYDESCRIPTIONArgentinaINSTRUMENTBrazilSoybeanSep-23Introducedanewroundofthe“soydollar”programme,effective4September2023,allowingexporterstoBulgariaExportpolicybuy25%ofsoybeansusingtheirexportrevenuesatafreeexchangerate,whiletheremaining75%willbeChina(mainland)Sunflowerseed,Oct-23tradedattheofficialexchangerateofARS350perUSD.Onemonthafterimplementation,theprogrammesunfloweroilandSep-23Exportpolicywasextendeduntil25October2023.EuropeanUnionsunflowermealProductionregulationExtendedthefourthroundofthe“soydollar”programmetoincludesunflowerseed,sunfloweroilandSoybeanImportpolicysunflowermeal.Theprogrammefortheseproductswillbevaliduntil20October2023.FoodstandardSunflowerseedOct-23StockreleaseAuthorized48producerstosowsoybeansinMatoGrosso15daysearlierthantheusualplantingperiod,GMOpolicystartingon15September2023.ThesowingperiodisestablishedbythegovernmentannuallytoallowtheSoybeanMay-23GMOpolicyproperdevelopmentofthecropineachstate.Jun-23toBilateraltradeinitiativeSoybeanOct-23ImportpolicyIntroducedanimportbanonsunflowerseedfromUkraineuntiltheendofNovember2023,whenanewSoybeanOct-23licensingsystem,previouslyagreedbetweenUkraineandtheEuropeanUnion,wouldbecomeeffective.RapeseedOct-23ImportpolicyOilseedsOct-23Publishedtheupdatednationalstandardforsoybeans,whichwilltakeeffecton1December2023.TheMarketsupportrevisedstandardwillreplacethecurrentversion,whichhasbeenineffectsince1September2009.Rapeseed,May-23sunflowerseedImportpolicySold1.12milliontonnesofimportedsoybeansfromstatereserves,outof4.21milliontonnesofferedin13Importpolicyauctionsbetween20Juneand1September2023.AgriculturalproductsMay-23ImportpolicyPreliminarilyapproved14newgeneticallymodified(GM)soybeanseedvarietiesforplanting.AgriculturalproductsJun-23ApprovedaGMrapeseedforimport,effectivefrom28September2023to27September2028.Rapeseed,Jun-23sunflowerseedAug-23SignedanagreementwiththeRussianFederation,whichwillsupply70milliontonnesofgrainsandoilseedsSep-23toChina(mainland)overthenext12years.BiodieselBannedimportsofkeyagriculturalproductsfromUkraine,includingwheat,maize,rapeseedandsunflowerRapeseed,seedtofivefrontlineEuropeanUnion(EU)members–Bulgaria,Hungary,Poland,RomaniaandSlovakia–sunflowerseedeffectivefrom2Mayto5June2023.TheproductsremainedfreetocirculateinotherEUcountries.TheEuropeanParliamentapprovedtheEuropeanCommission’sproposaltorenewtheAutonomousTradingMeasures(ATM),whichsuspendedimportduties,anti-dumpingdutiesandquotasonimportsofagriculturalproductsfromUkraineforanotheryear.ApprovedasupportpackageworthEUR100million(USD108.4million)forfarmersinBulgaria,Hungary,Poland,RomaniaandSlovakiaaffectedbythewarinUkraine.Thesupportaimstorestorestabilitytothelocalagriculturalmarketandtodemonstrateacollectivecommitmenttofindsolutionsandsupporttheagriculturalsectorintheregion.ExtendedimportbansonfourUkrainianagriculturalproductsuntil15September2023.Thebanappliedtowheat,maize,rapeseedandsunflowerseedcomingintofiveEUcountriesthatborderUkraine:Bulgaria,Hungary,Poland,RomaniaandSlovakia.LaunchedaninvestigationintoallegationsofIndonesianbiodieselimportsavoidingthebloc’scountervailingdutiesbygoingviaChina(mainland)andtheUnitedKingdomofGreatBritainandNorthernIreland.Confirmedthelapseofthetemporaryimportbanonwheat,maize,rapeseedandsunflowerseedfromUkr`ainetoBulgaria,Hungary,Poland,RomaniaandSlovakia,startingfrom16September2023.COUNTRYPRODUCTDATEPOLICYDESCRIPTIONEuropeanUnionINSTRUMENTGhanaAgriculturalproductsSep-23MarketsupportAllowedUkrainetoindependentlyrequestaidforinfrastructuredevelopmentundertheConnectingEuropeHungaryFacility(CEF)programmeoftheEuropeanUnion(EU)inabidtohelpestablishandimprovetraderoutesforIndiaOilseedsOct-23SectorthetransitofUkrainianproductsthroughtheEU.Previously,UkrainecouldonlysubmitprojectsforselectiondevelopmentmeasuresincooperationwithEUcountries.IndonesiaPalmoilMay-23ProductionsupportUndertheTemporaryCrisisandTransitionFrameworkoftheEuropeanUnion,approvedanapproximatelyRapeseed,Sep-23EUR132.3million(USD139.1million)PolishschemetosupportthecerealandoilseedproductionsectorssunflowerseedImportpolicyinthecontextofthewarinUkraine.TheschemewillbeopentocerealandoilseedproducersfulfillingJun-23Productionsupportpreviouslyestablishedcriteria.TheaidwillnotexceedEUR250000(USD262930)perbeneficiaryandwillbeSoybean,sunflowerJun-23Importpolicygrantednolaterthan31December2023.seed,groundnutOct-23ProductionsupportExportpolicyBeganimplementationofacomprehensivepalmoiltraceabilitysystemtostrengthenthepalmoilindustrySoyoil,sunfloweroilandsafeguardpublichealth.ThesystemwasdevelopedtopreventpracticesthatcontaminatepalmoilExportpolicyalongthesupplychainandtofacilitatetheexportofauthenticandhealthypalmoiltoglobalmarkets.TheRapeseedExportpolicyFoodandDrugAuthorityofGhana(FDA)willimplementalicensingsystemforpalmoilprocessors.ExportpolicyPalmoilMay-23BannedimportsofcertainagriculturalproductsfromUkraine,includingwheat,maize,rapeseedExportpolicyandsunflowerseedaftertheEuropeanCommissiondecidednottoextenditsimportbanafter15PalmoilMay-23September2023.PalmoilJun-23SectorPalmoilJun-23developmentmeasuresRaisedtheminimumsupportpricesforKharif(summer-sown)crops,includingsoybean,sunflowerseedandgroundnutforthe2023/24season.NFOOVOEDMOBUERTL2O0O2K327PalmoilJul-23Reducedimportdutiesonrefinedsoyoilandrefinedsunfloweroilfrom17.5percentto12.5percenttoPalmoilJul-23controlfoodinflation,effectivefrom15June2023.RaisedtheminimumsupportpricesforRabicrops,includingrapeseed,forthe2024/25season.Lowereditsreferencepriceforcrudepalmoil(CPO)fromUSD955.53pertonnetoUSD893.23pertonnefortheperiodof16–30May.ThereferencepricewouldplacetheCPOexporttaxatUSD74pertonneandthelevyatUSD95,comparedwithUSD124pertonneandUSD95pertonne,respectively,inthepreviousperiod.LowereditsreferencepriceforCPOfromUSD893.23pertonnetoUSD811.68pertonnefortheperiodof1–15June.ThereferencepricewouldreducetheCPOexporttaxfromUSD74pertonnetoUSD33pertonneandthelevyfromUSD95pertonnetoUSD85pertonne,respectively.LowereditsreferencepriceforCPOfromUSD811.68pertonnetoUSD723.45pertonnefortheperiodof16–30June.TheCPOexporttaxwouldbereducedfromUSD33pertonnetoUSD3pertonne,whiletheexporttariffwouldbereducedfromUSD85pertonnetoUSD65pertonne.SetitsreferencepriceforCPOatUSD747.23pertonnefortheperiodof1–15July,anincreasefromUSD723.45pertonneduringthe16–30Juneperiod.ThereferencepricewouldplacetheCPOexporttaxatUSD18pertonne,upfromUSD3pertonneandtheexportlevyatUSD75pertonne,upfromUSD65pertonne.RaisedthereferencepriceforCPOtoUSD791.02pertonnefromUSD747.23pertonnefortheperiodof16–31July.TheincreasewillraisethepayableexporttaxforCPOtoUSD33pertonnefromUSD18pertonneandthelevytoUSD85pertonnefromUSD75pertonne,whiletaxesforotherpalmproductswillalsoberaised.TheMinistryofCooperativesandSmallandMediumEnterprises(SMEs)andtheRoundtableonSustainablePalmOil(RSPO)havesignedamemorandumofunderstanding(MoU)withtheaimtodevelopandstrengthenthecapacityofsmallfarmerstoacceleratetheimplementationofsustainablepalmoilproductioninIndonesia.OilcropsMajorpolicydevelopments28FNOOOVDEMOBUETRLO20O2K3COUNTRYPRODUCTDATEPOLICYDESCRIPTIONIndonesiaPalmoilJul-23INSTRUMENTKenyaPalmoilAug-23ExportpolicyRaisedthereferencepriceforCPOtoUSD826.48pertonnefromUSD791.02pertonnefortheperiodofMalaysiaBiodieselAug-23Exportpolicy1–15August.TheincreasekeepsthepayableexporttaxforCPO(USD33pertonne)andthelevy(USD85perBiodieselAug-23tonne)unchanged,whiletaxesforotherpalmproductswillalsoremainatthesamelevels.PalmoilAug-23TradedisputePalmoilSep-23BioenergypolicySetthereferencepriceforCPOtoUSD820.35pertonnefromUSD826.48pertonnefortheperiodofPalmoilSep-23Exportpolicy16–31August,keepingthepayableexporttaxforCPO(USD33pertonne)andthelevy(USD85pertonne)PalmoilOct-23unchanged,whiletaxesforotherpalmproductswillalsoremainatthesamelevels.PalmoilOct-23ExportpolicyEdibleoilSep-23ExportpolicyRequestedWorldTradeOrganization(WTO)disputeconsultationswiththeEuropeanUnionregardingthePalmoilJun-23Exportpolicybloc’scountervailingdutiesonbiodieselimportsfromIndonesia.ThecountryclaimedthatthemeasuresandPalmoilJul-23MarketregulationtheunderlyinginvestigationthatledtotheimpositionofthemeasuresareinconsistentwithanumberofSectorWTOprovisions.PalmoilAug-23developmentmeasuresExportpolicyAnnouncedthefullimplementationofa35percentbiodieselblendingprogramme(B35)from1August2023.TheprogrammewaspartiallyimplementedearlierthisyearinFebruary.ExportpolicyLoweredthereferencepriceforCPOtoUSD805.20pertonnefromUSD820.35pertonnefortheperiodExportpolicyof1–15September.ThereductionkeepsthepayableexporttaxforCPO(USD33pertonne)andthelevy(USD85pertonne)unchangedfromthepreviousmonth,whiletaxesforotherpalmproductswillalsobeunchanged.LoweredthereferencepriceforCPOtoUSD798.83pertonnefromUSD805.20pertonnefortheperiodof16–30September,keepingthepayableexporttaxforCPO(USD33pertonne)andthelevy(USD85pertonne)unchanged,whiletaxesforotherpalmproductswillalsoremainatthesamelevels.IncreasedthereferencepriceforCPOtoUSD827.37pertonnefromUSD798.83pertonnefortheperiodof1–15October.TheincreasekeepsthepayableexporttaxforCPO(USD33pertonne)andthelevy(USD85pertonne)unchanged,whiletaxesforotherpalmproductswillalsoremainatthesamelevels.LoweredthereferencepriceforCPOtoUSD740.67pertonnefromUSD827.37pertonnefortheperiodof16–30October,reducingthepayableexporttaxtoUSD18pertonnefromUSD33pertonneandthelevytoUSD75pertonnefromUSD85pertonne,whilealsoreducingtaxesforotherpalmproducts.LaunchedCPOfuturesexchangeon13October2023.ThetradingonCPOfuturescommencedon20October2023.TheIndonesiaCommodityandDerivativesExchange(ICDX)hasbeenappointedastheexchangetofacilitatethephysicalCPOtrade,withthetransactionstobecarriedoutinIndonesianrupiah.Announcedthefive-yearEdibleOilCropPromotionProjectinabidtoraisedomesticedibleoilproductionandreduceimports.Theprojectwillinvolveincreasingtheareaunderoilcrops,trainingfarmersandprovidingseedsforplanting.MaintaineditsCPOexportrateforJuly2023atthemaximumlevelof8percent,whileloweringitsreferencepricefromMYR4144.31(USD925.3)pertonnetoMYR3604.73(USD780.0)pertonne,effectivelyloweringthepayableexportdutytoMYR288.38(USD62.4)pertonne.MaintaineditsCPOexportrateforAugust2023atthemaximumlevelof8percent,whileraisingitsreferencepricefromMYR3604.73(USD796.2)pertonnetoMYR3614.28(USD798.3)pertonne,resultinginanincreaseofpayableexportdutytoMYR289.14(USD63.9)pertonneinAugustfromMYR288.38(USD62.4)pertonneinJuly.MaintaineditsCPOexportrateforSeptember2023atthemaximumlevelof8percent,whileraisingitsreferencepricefromMYR3614.28(USD798.3)pertonnetoMYR3755.13(USD813.0)pertonne,resultinginanincreaseofpayableexportdutytoMYR300.41(USD65.0)pertonneinSeptemberfromMYR289.14(USD63.9)pertonneinAugust.COUNTRYPRODUCTDATEPOLICYDESCRIPTIONMalaysiaBiodieselAug-23INSTRUMENTPalmoilLaunchedthesecondphaseofitsNationalEnergyTransitionRoadmap(NETR),includingaplantoBioenergypolicyimplementa30%biodieselblendingprogramme(B30)withatargetdateof2030.PalmoilSep-23ExportpolicyMaintaineditsCPOexportrateforOctober2023atthemaximumlevelof8percent,whileloweringitsreferencepricefromMYR3755.13(USD813.0)pertonnetoMYR3710.50(USD792.5)pertonne,resultingOct-23ExportpolicyinadecreaseofpayableexportdutytoMYR296.84(USD63.4)pertonneinOctoberfromMYR300.41(USD65.0)pertonneinSeptember.MoroccoOlive,oliveoilOct-23ExportpolicyPakistanEdibleoilMay-23MarketregulationMaintaineditsCPOexportrateforNovember2023atthemaximumlevelof8percent,whileloweringitsSoybeanOct-23GMOpolicyreferencepricefromMYR3710.50(USD792.5)pertonnetoMYR3556.08(USD752.2)pertonne,resultinginadecreaseofpayableexportdutytoMYR284.49(USD60.2)pertonneinNovemberfromMYR296.84RapeseedOct-23Productionsupport(USD63.4)pertonneinOctober.PolandRapeseed,Sep-23ImportpolicyIncludedolivesandoliveoilsinthelistofgoodswithquantityrestrictions,effectivelylimitingtheexportsofRussianFederationsunflowerseedMay-23Exportpolicytheseproducts,whichwillbesubjecttoexportlicensinguntil31December2024.Themeasureaimstosecureoliveoilsuppliesfordomesticconsumers.Sunfloweroil,Jun-23ExportpolicysunflowermealInabidtocontaindomesticinflation,reducedthepricesforvariousbrandsofgheeandedibleoilsthroughNFOOVOEDMOBUERTL2O0O2K329Jul-23ExportpolicytheUtilityStores,whicharestate-ownedchainstoresacrossPakistan.Sunfloweroil,sunflowermealJul-23ExportpolicyReleasedimportcargoesofsoybeansthathadbeenstuckintheportsinceOctober2022,followingtheJul-23ExportpolicyorderoftheSindhHighCourtinOctober2023.Reportedly,thecourtfoundinsufficientevidencetoclassifySunfloweroil,theimportedsoybeanasageneticallymodifiedproductortosubjectittoanyrestrictions.sunflowermealInanefforttoreducethecountry’svegetableoilimportbill,decidedtopromoterapeseedcultivationSunflowerseed,inPunjabprovincebyofferingvarioussupporttofarmers.ThesemeasuresincludeofferingsubsidiesforsunfloweroilandrapeseedhybridvarietycultivationintheRabi(winter-sown)season;settingup200demonstrationplotssunflowermealtopromotegoodagriculturalpractices;encouragingintercroppingofrapeseedwithotherRabicrops;andRapeseeddistributingseedkitsamongthefarmersundertheintercroppingscheme.BannedimportsofcertainagriculturalproductsfromUkraine,includingwheat,maize,rapeseedandsunflowerseed,aftertheEuropeanCommissiondecidednottoextenditsimportbanafter15September2023.Settheexportdutyonsunfloweroilto0inJune2023fromRUB1122.2(USD14.5)pertonneinMay,whiledecreasingtheexportdutyonsunflowermealfromRUB6577.7(USD85.0)pertonneinMaytoRUB5011.8(USD64.8)pertonneinJune.Keptsunfloweroilexportdutyat0inJuly2023,whilethedutyonsunflowermealexportincreasedtoRUB6248.7(USD74.4)pertonneinJulyfromRUB5011.8(USD64.8)pertonneinJune.ThedutiesarebasedontheindicativepricesofUSD872.4pertonneforsunfloweroilandUSD271.4pertonneforsunflowermealagainst,respectively,USD940.5pertonneandUSD262.4pertonneinthepriormonth.Announceddecisiontokeepsunfloweroilexportdutyat0inAugust2023,basedonanindicativepriceofUSD829.4pertonne,whichisdownUSD43pertonnefromtheJuly2023quotation.Meanwhile,theexportdutyonsunflowermealwasraisedtoRUB7444.0(USD82.5)pertonne,itshighestlevelsincethebeginningofthe2022/23season.TheAugustsunflowermealexportdutyisbasedonanindicativepriceofUSD270.2pertonne,downUSD1.2pertonnefromJuly.Extendedtheexportdutyonsunflowerseed,setat50%oratleastUSD320pertonne,until31August2024.Atthesametime,floatingdutiesonsunfloweroilandsunflowermeal,whichwereduetoendon31August2023,willbeapplieduntil31August2024.Extendedtheexportbanonrapeseeduntil29February2024.OilcropsMajorpolicydevelopments30FNOOOVDEMOBUETRLO20O2K3COUNTRYPRODUCTDATEPOLICYDESCRIPTIONINSTRUMENTSunfloweroil,Aug-23Announcedthattheexportdutyonsunfloweroilwouldremainat0inSeptember2023,basedonansunflowermealExportpolicyindicativepriceofUSD819.5pertonne.Atthesametime,theexportdutyonsunflowermealwouldrisetoAug-23RUB7995.3(USD81.2)pertonneinSeptember,basedonanindicativepriceofUSD269.2pertonne,downRussianFederationSunflowerseedExportpolicyUSD1.0pertonnefromAugust.Sep-23SerbiaSunfloweroil,Oct-23ExportpolicyRevisedtheexportdutyonsunflowerseedto50%oratleastRUB32000(USD325)pertonne,effectiveSlovakiasunflowermealMay-23from1September2023.Previously,thedutyhadbeensetat50percent,butnotlessthanUSD320Sep-23Bilateraltradeinitiativepertonne.OilseedsMarketregulationEdibleoilAug-23ImportpolicyAnnouncedthattheexportdutyonsunfloweroilwouldremainat0inOctober2023,basedonanindicativeRapeseed,Jun-23priceofUSD822.6pertonne.Atthesametime,theexportdutyonsunflowermealwoulddecreasetoRUBsunflowerseedAug-23Sector7519.6(USD78.5)pertonneinOctober,basedonanindicativepriceofUSD276.0pertonne,upUSD6.8perSep-23developmentmeasurestonnefromSeptember.TunisiaOliveoilOct-23ImportpolicyTürkiyeOct-23ExportpolicySignedanagreementwithChina(mainland),allowingtheRussianFederationtosupply70milliontonnesofUgandaSunflowerseed,grainsandoilseedstothecountryoverthenext12years.sunfloweroilSep-23ExportpolicyOliveoilExportpolicyRemovedtheedibleoilpricecap,whichwasimposedinDecember2022.SectorSunflowerseed,developmentmeasuresBannedimportsofcertainagriculturalproductsfromUkraine,includingwheat,maize,rapeseedsunfloweroilandsunflowerseed,aftertheEuropeanCommissiondecidednottoextenditsimportbanafter15OliveoilExportpolicySeptember2023.PalmoilAnnouncedastrategytopromoteoliveoilproduction,whileraisingexportsanddomesticconsumptionoverUkraineRapeseed,thecomingdecade.TheMinistryofAgriculture,WaterResourcesandFisheriesplanstoimproveoliveoilsunflowerseedproductionbyreplanting1000haofoldolivegroveswithnewvarietieseachyearandconverting10000haofrainfedgrovestohigh-densityplantationsannually.Reimposedimportdutiesonsunflowerseedandsunfloweroilat27percentand36percent,respectively,witheffectfrom1June.Thereferencepriceshaveyettobedetermined.Announcedathree-monthexportbanonoliveoilinbulk,starting1August2023,tosecuredomesticsupplies.ThedemandforTurkisholiveoilrosesignificantlythisyear,followingreducedoutputsfromSpain,theworld’sleadingoliveoilproducer.Introducedareferencepriceforsunfloweroilandsunflowerseedimports,effective18September2023,withaviewtoprotectlocalproducers.ThereferencepricewassetatUSD1350pertonneforsunfloweroilandUSD700pertonneforsunflowerseed,respectively.Extendedtheexportbanonoliveoilinbulkbeyond1November2023,untilfurthernotice.Initiatedacertificationprocessforpalmoilsmallholderfarmerstoencouragesustainablepracticesinthepalmoilindustryandmitigatetheadverseenvironmentalimpacts.TheprocesswillbeconductedthroughtheRoundtableonSustainablePalmOil(RSPO)programme.Approvedalicensingsystemforexportsofwheat,maize,rapeseedandsunflowerseedintofiveneighbouringcountries:Bulgaria,Hungary,Poland,RomaniaandSlovakia.Exportlicenseswillbeissuedsubjecttotheapprovalofexporters’requestsbytheMinistryofAgricultureandfollowingbilateralconsultationswiththeEuropeanCommissionandtherelevantcountrywithin15daysfromthedateofreceiptfromtheMinistryofEconomy.COUNTRYPRODUCTDATEPOLICYDESCRIPTIONINSTRUMENTUkraineRapeseed,RequestedWorldTradeOrganization(WTO)disputeconsultationswithHungary,PolandandSlovakiasunflowerseedSep-23Tradedisputeregardingthecontinuedimpositionofimportbansbythethreecountriesoncertainagriculturalproducts,UnitedStatesincludingrapeseedandsunflowerseed,fromUkraine.ThecountryclaimedthatthemeasuresimposedbyofAmericaRapeseed,Oct-23TradedisputeHungary,PolandandSlovakiawereinconsistentwithvariousprovisionsunderWTO’sGeneralAgreementonsunflowerseedTariffsandTrade1994andtheAgreementonAgriculture.Jun-23BioenergypolicyBiodieselSep-23BioenergypolicySuspendedtheWorldTradeOrganization(WTO)disputeconsultationswithHungary,PolandandSlovakiaregardingthecontinuedimpositionofimportbansbythethreecountriesoncertainagriculturalproducts,Biodieselincludingsunflowerseedandrapeseed,fromUkraine.Ukraineisworkingonanewsolution,whichistobeannounced.IssuedafinalruleundertheRenewableFuelStandard(RFS)programmethatsetsthebiofuelvolumerequirementsfor2023to2025.TheUSEnvironmentalProtectionAgency(EPA)setthebiomass-baseddieselvolumetargetfor2023at2.82billiongallons,unchangedfromtheproposalinDecember2022.Withaviewtoreducinggreenhousegasemissions,awardedUSD18.6millioninfundingtoeightprojects,involvinguniversitiesandindustries,todevelopbiomassfeedstocksfortheproductionofaffordablebiofuelsandbioproducts.AcollectionofmajorpolicydevelopmentsfromJanuary2011onwardsisavailableat:https://www.fao.org/markets-and-trade/commodity-policy-archive/en/?groupANDcommodity=Oilseeds,%20oils%20and%20mealsNFOOVOEDMOBUERTL2O0O2K331OilcropsMajorpolicydevelopments32FNOOOVDEMOBUETRLO20O2K3MEAT:MAJORPOLICYDEVELOPMENTSMID-MAY2023TOMID-OCTOBER2023COUNTRYPRODUCTDATEPOLICYDESCRIPTIONAlgeriaINSTRUMENTArgentinaPoultrymeatOct-23MarketaccessGrantedmarketaccesstohalalchickenmeatimportsfromBrazil.AustraliaBrazilPoultrymeatMay-23GovernmentsupportLaunchedtheEconomicAssistanceProgrammeandallocated7.45billionArgentinianpesos(aroundUSD32million)Canadatomitigatetheeconomicimpactofthesanitaryemergencycausedbythehighlypathogenicavianinfluenza(HPAI)PigmeatAug-23Marketaccessdiseaseonpoultrymeatproducers.China(mainland)GovernmentsupportPoultrymeatJun-23AllowedimportsofpigmeatfromFrance.GovernmentsupportAllJun-23AllocatedBrazilianReal(BRL)200million(aroundUSD41million)totheMinistryofAgriculture,LivestockandFoodTradeagreementSupplyforactionsaimedatavoidingthespreadofHPAIdiseaseincommercialproduction.PoultrymeatJul-23MarketaccessLaunchedthe2023/2024AgriculturalandLivestockPlan,whichincludesvariousmeasurestosupportfarmers,withAllJun-23ImportbanliftedanannualbudgetofBRL364.2billion(aroundUSD76billion)untilJune2024.BovinemeatJun-23AgreedwithJapanonaregionalizationprotocolunderwhichtradebansrelatedtoHPAIwillonlyapplytomunicipalitieswherecaseshavebeendetected.BovinemeatAug-23ImportbanliftedAgreedtoopenitsmarkettoParaguayanmeatasofSeptember2023.AllSep-23MarketaccessMarketaccessLiftedabanondebonedbeeffromcattleunder30monthsofagefromBelgiumandPoland.ThebanwasimposedBovinemeatSep-23Importbanliftedmorethan22yearsagoafterthedetectionofcasesofbovinespongiformencephalopathy(BSE)inthosecountries.PigmeatSep-23ResumedbovinemeatimportsfromSouthAfricaafterliftingabanimposedin2022duetoanoutbreakoffoot-and-mouth(FMD)disease.China(HongKong–SAR)PoultrymeatSep-23ImportbanGrantedmarketaccesstobonelessbeeffromcattleunder30monthsofagefromFinland.ThebanwasimposedinDominicanRepublicAllAug-23Marketaccess2001duetoadetectedcaseofBSE.Inaddition,thecountrybroadenedtherangeofpigmeatproductsthatcanbeEgyptGovernmentsupportimportedfromFinland.EuropeanUnionAllJul-23ImporttariffImporttariffApprovedbovinemeatimportsfromtwoColombianmeatplantsaftermorethanadecadeofnegotiations.PoultrymeatOct-23LiftedabanonpigmeatfromtheRussianFederationfollowingtheimplementationofanAfricanSwineFeverAllMay-23(ASF)regionalizationprotocol,whichallowscontinuedimportsfrompartsoftheRussianFederationthatarenotimpactedbythedisease.Announcedthesuspensionofimportsofpoultrymeatandrelatedproducts,includingeggs,fromCheshireCountyandtheEastStaffordshireDistrictintheUnitedKingdomofGreatBritainandNorthernIrelandfollowingHPAIoutbreaks.InMay2023,poultrymeatimportsweresuspendedfromseveralregions:NorfolkCountyofOntarioinCanada,NorthLincolnshireofLincolnshireCountyintheUnitedKingdom,Pyrénées-AtlantiquesDepartmentinFranceandYaroslavlOblastintheRussianFederation.GrantedmarketaccesstobovineandpigmeatimportsfromBrazil.Announcedthereleaseofapproximately378000tonnesofcornandsoybean,amountingtoaboutUSD183million,fromJuly20toAugust3,2023.Thisaimedtoaddressfeedsupplyneedsandsupportthelivestocksector.Suspendedimporttariffsonchickenmeat,whichweresetat30percent,foraperiodofsixmonths.Liftedtariffsonimports,includingmeat,fromUkraineforanadditionalyear.TheEuropeanUnionliftedtariffsandotherrestrictionsforaninitial12monthsinJune2022.COUNTRYPRODUCTDATEPOLICYDESCRIPTIONINSTRUMENTEuropeanUnionSignedatradeagreementwithNewZealand.TheagreementremovesalltariffsonEUagrifoodexportstoNewAllJul-23TradeagreementZealanduponentryintoforce.ForagrifoodimportsintotheEuropeanUnion,tariffratequotasforsomeproductsIndiawillbeapplied,notablyonbeef,withatariffratequotaof10000metrictonnestobeimportedwithreduceddutyIndonesiaPoultrymeatAug-23Importbanliftedof7.5percent.ThisvolumewillbegraduallyphasedinoversevenyearsfromtheentryintoforceoftheagreementIsraelPoultrymeatSep-23Importtariffandlimitedtohighqualitygrass-fedbeef.JapanLiveanimalsSep-23ImportbanliftedMalaysiaPoultrymeatAug-23MarketaccessResumedpoultrymeatimportsfromArgentinaafterasuspensionduetoHPAIoutbreaksdetectedintheSouthMexicoAmericancountry.NamibiaPoultrymeatSep-23ImportpolicyAgreedwiththeUnitedStatestoresolveadisputeattheWorldTradeOrganization,reducingimporttariffsonPhilippinesLiveanimalsSep-23ImportbanliftedcertainUSproducts,includingfrozenturkeyandfrozenduck.ImportbanliftedPortugalAllAug-23ImportbanLiftedabanonlivecattleimportsfromfourAustralianfacilities.Thebanwasimposedon30July2023overImportbanconcernsrelatedtolumpyskindisease(LSD).RepublicofKoreaPoultrymeatAug-23PoultrymeatSep-23AllowedpoultrymeatimportsfromBrazil.AllOct-23ImportpolicyHalted,onatemporarybasis,poultryimportsfromtheBrazilianstateofMatoGrossodoSulafterdetectinganoutbreakofHPAIinabackyardflock.Poultrymeatimportshadpreviouslybeensuspended–duetoconcernsoverAllSep-23PricecontroltheHPAIvirus–fromtheregionsofEspíritoSantofrom28June,until10August2023,andfromMaracajá,statePigmeatofSantaCatarinafrom17July,until18August2023.Japanusesastrictdefinitionof“poultry,”whichconsidersNFOOVOEDMOBUERTL2O0O2K333AllMay-23ImportbanliftedbackyardflocksaswellascommercialflockswhenapplyingimportrestrictionsrelatedtoHPAIfindings.AllJun-23ImporttariffLiftedabanonlivecattleandbuffaloimportsfromAustralia.ThebanwasimposedinearlyAugustduetoconcernsSep-23GovernmentsupportoverLSD.Announcedtheresumptionofbovineandovinemeatimportsfrom22slaughterhousesinUruguayafterthreeyears.BannedpoultrymeatimportsfromDenmarkandNetherlands(Kingdomofthe)duetoHPAIoutbreaksdetectedinthetwocountries.BannedpoultrymeatimportsfromSouthAfricaduetoHPAIoutbreak.LiftedabanonpoultrymeatimportsfromChile,whichwasimposedinMarchwhenHPAIoutbreaksweredetectedintheSouthAmericancountry.Moreover,thePhilippinesliftedabanonpoultrymeatimportsfromTürkiye,whichwasappliedduetoHPAIconcerns,andimposedabanonpigmeatfromSwedenduetoareportedcaseofASF.Previously,thePhilippinesliftedabanonpoultrymeatimportsfromFranceonSeptember15,2023,SouthDakota,intheUnitedStatesonSeptember6,2023,PolandonAugust30,2023,theCzechRepubliconAugust10,2023,JapanonAugust9,2023;HungaryonAugust9,2023,IowaandNorthDakota,intheUnitedStatesonJuly20,2023andissuedatemporarybanonpoultryfromtheNetherlands(Kingdomofthe)onAugust14,2023.ExtendedzeroVATrateonbasicfooditems,includingmeat,untiltheendof2023.ThegovernmentslashedtheVATrateto0from6percentinApril2023.ReopeneditsmarkettoGermanpigmeatunderaregionalizationagreementinordertoresumetradefromregionsofGermanynotaffectedbyASF.Thebanwasimposedin2020duetoASFoutbreaksdetectedintheEuropeancountry.Removedimporttariffson90000tonnesofchickenmeatuntiltheendof2023toeasepricepressures.ThesamemeasurewasappliedattheendofMayon45000tonnesofpigmeatimports.Announcedastateaidmeasureof320billionwon(around241USDmillion)tosupportfarmsdamagedbyheavyrainsandtyphoons.MeatMajorpolicydevelopments34FNOOOVDEMOBUETRLO20O2K3COUNTRYPRODUCTDATEPOLICYDESCRIPTIONRussianFederationINSTRUMENTSaudiArabiaAllSep-23AnnouncedtheallocationofRUB45billion(aroundUSD469million)tosubsidizelendingtoagriculturalproducersGovernmentsupportatapreferentialinterestrate.AllAug-23ImportbanliftedLifteda21-yearbanonSouthAfricanmeatimportsaftersuccessfulinspectionswereconductedinSouthAfricanabattoirsandfeedlotsinJune.TheseinspectionsensuredcompliancewithSaudiArabianmarketaccessprotocolsSouthAfricaPoultrymeatAug-23Importpolicyandhalalcertificationformeatproducts.TaiwanProvinceofChinaBovinemeatJun-23ImportbanliftedReinstatedanti-dumpingdutiesonfrozenbone-inportionsofchickenoriginatinginorimportedfromBrazil,ImportbanliftedDenmark,Ireland,PolandandSpainaftera12-monthsuspensionperiod.InMay,JuneandAugust2023,theSouthUkrainePoultrymeatAug-23AfricangovernmentliftedtheHPAIimportrestrictionsagainstIreland,Netherlands(Kingdomofthe)andSpain,respectively.UzbekistanAllAug-23GovernmentsupportLiftedabanonCanadianbeefandbeefproductsfromanimalsoverthirtymonthsofage.Thebanwasimposedin2003duetoacaseofBSEdiseasedetectedintheNorthAmericancountry.Liftedtheban,imposedinmid-July,onpoultrymeatimportsfromPoland,withtheexceptionofareasaffectedbyoutbreakofNewcastledisease.Announcedtheestablishmentoflivestockclustersin25districtscoveringtheprocessingofmeatanddairyproductsfromthebeginningtothesaleoffinishedgoods,productionofready-madefodderproducts,deliveryofproductivebreedingstocktohouseholds,slaughterhousesandskinreceivingandprocessingfacilities.Theseclustersaimtoimprovelivestockbreedingandprocessingofmeatanddairyproducts.AcollectionofmajormeatpolicydevelopmentsstartinginJanuary2011isavailableat:https://www.fao.org/markets-and-trade/commodity-policy-archive/en/?groupANDcommodity=MeatDAIRY:MAJORPOLICYDEVELOPMENTSMID-MAY2023TOMID-OCTOBER2023COUNTRYPRODUCTDATEPOLICYDESCRIPTIONArgentinaINSTRUMENTDairyproductsAnnouncedaprogrammetoprovidefinancialassistancetosmallandmediumdairyproducersBrazilSep-23Governmentsupporttoincreasemilkproductionbyoptimizingandimprovingprofitability.Undertheprogramme,CanadaDairyproductsmilkproducerswithanaveragedailyproductionofupto7000litresofrawmilkbetweenNFOOVOEDMOBUERTL2O0O2K335DominicanRepublicDairyproductsOct-23MarketaccessApril2022andMarch2023areeligibleforfinancialassistance.ProducerswithanaverageofEgyptDairyproductsJun-23Governmentsupportnomorethan1500litresperdaywillreceiveacompensationof20ARS(0.08USD)foreachDairyproductsAug-23Importtarifflitreofmilk.Producerswithanaverageofbetween1501and7000litresperdaywillreceiveaEuropeanUnionDairyproductsSep-23Importtariffcompensationof15ARS(USD0.06)foreachlitreofmilk.Inbothcases,themonthlyallocationCheeseSep-23Governmentsupportfundiscappedat800000ARS(USD3241).DairyproductsMay-23ImporttariffDairyproductsJun-23MarketaccessSuspendedexporttaxondairyproductsfrom4October2023until31December2023,inabidDairyproductsJul-23Governmentsupporttopromotelocalproductionandraiseforeignmarketsalestoenhancethenationaleconomy.DairyproductsOct-23ImporttariffDairyproductsMay-23TradeagreementLaunchedthe2023/2024AgriculturalandLivestockPlan,whichincludesvariousmeasurestosupportfarmers,withanannualbudgetofBRL364.2billion(aroundUSD76billion)untilJul-23TradeagreementJune2024.Approvedanincreaseinthetariffratesforcheeseandbutteroilimportsfromnon-Mercosurcountries,from12.8percentto18percentforaperiodof12months.Increasedimporttariffson29dairyproductsfromnon-Mercosurcountries,withratesrangingfrom10.8to14.4percent.AnnouncedanewDairyInnovationandInvestmentFundofuptoCAD333million(USD246.3million)overthenexttenyears.TheFundaimstoincreasecompetitivenessinthedomesticdairysector,adapttonewmarkettrendsandmanagesolidnon-fat(SNF)supplyinCanada.AnnouncedtheincreaseoftheimporttariffonmozzarellacheesecomingfromtheUnitedStatesofAmerica,from4percentto12.4percent,asanagriculturalsafeguardmeasure(CAFTA-DR),effectivefrom31May2023until31December2023.Extendedthehalalcertificationrequirementforimportedmilkanddairyproductsuntil1October2023byissuingaWTO/TBT(WorldTradeOrganization/TechnicalBarrierstoTrade)addendum.Announcedthereleaseofapproximately378000tonnesofcornandsoybean,amountingtoaboutUSD183million,fromJuly20toAugust3,2023.Thisaimedtoaddressfeedsupplyneedsandtosupportthelivestocksector.Exempted12foodcommodities,includingmilk,butterandcheese,fromimportdutiesforaperiodofsixmonthstomitigateinflationarypressureandreducedomesticprices.Renewedthesuspensionofallcustomsduties,quotasandtradedefencemeasuresonUkrainianexportstotheEuropeanUnionfrom6June2023until31June2024tosupporttheUkrainianeconomy.Signedafreetradeagreement(FTA)withNewZealand,withaneffectivedateanticipatedinearly2024.Theagreementestablishesthegradualliberalizationofdairyproducttradewithincreasedtariffratequotasorreductionsinin-quotatariffratesforvariousdairyproducts,includingbutter,cheeseandmilkpowders.DairyMajorpolicydevelopments36FNOOOVDEMOBUETRLO20O2K3COUNTRYPRODUCTDATEPOLICYDESCRIPTIONIndonesiaDairyproductsMay-23INSTRUMENTIsraelDairyproductsSep-23TradeagreementSignedapreferentialtradeagreementwiththeIslamicRepublicofIran.Undertheagreement,JapanDairyproductsMay-23ImporttarifftheIslamicRepublicofIranwillprovideIndonesiawithgreateraccesstoprocessedfoods,KenyaDairyproductsAug-23Importquotamedicine,textiles,palmoil,coffeeandtea,whileIndonesiawillbenefitfromreducedtariffsonMoroccoDairyproductsAug-23Governmentsupportvariousitems,includingsomedairyproducts.PakistanGovernmentsupportPortugalDairyproductsJun-23Removedthe40percentimporttariffonimportedmilkforsixmonthstomitigatetheshortageRepublicofKoreaDairyproductsSep-23Tradeagreementofdairyproducts.RussianFederationDairyproductsSep-23GovernmentinterventionDairyproductsJun-23GovernmentsupportAnnouncedthatthetariff–ratequotavolumesforbutterandnon-fatdrymilkpowderforSriLankaDairyproductsAug-23ImportbanliftedtheJapanesefiscalyear2023(April2023-March2024)wouldremainatthesamelevelasDairyproductsSep-23GovernmentsupportannouncedinJanuary2023:8000tonnesforbutterand750tonnesforskimmilkpowder.TürkiyeDairyproductsSep-23GovernmentsupportDairyproductsJun-23ImporttariffAnnouncedaprogrammetomodernizeKenyaCooperativeCreameriesplantsandestablishUzbekistanGovernmentsupportmilkprocessorsacrossthecountrywiththeaimtoincreasemilkproductionwithinfiveyears.DairyproductsJul-23GovernmentinterventionAnnouncedaprogrammetoprovide6000MAD(USD600)foreachimporteddairycow,DairyproductsAug-23regardlessofthenumberofanimalsacquired,inordertoincreaselocalmilkproduction.TheGovernmentsupportpolicywillbeeffectiveuntiltheendof2026oruntil60000cowsareimported.3000MAD(USD300)willalsobeprovidedfortheacquisitionoflocaldairycowsofdesignatedvarieties.AgreedonbartertradewiththeIslamicRepublicofIran,AfghanistanandtheRussianFederation,covering26commoditiesthatPakistancanexport,includingmilk,inexchangeforarangeofproducts,includingfertilizer.ApprovedtheextensionofzeroVATapplicationon46essentialfoodproducts,includingcowmilk,yoghurt,fermentedmilkandcheeses,untiltheendof2023.Announcedastateaidmeasureof320billionwon(aroundUSD241million)tosupportfarmsdamagedbyheavyrainsandtyphoons.LiftedimportbanonfishanddairyproductsfromKyrgyzstan.Agreedtofullysubsidizelogisticalcostsfordairyexportsasof1January2024torelievedomesticoversupply,withprioritygiventomilk,cream,whey,butterandcheeses.AnnouncedtheallocationofRUB45billion(aroundUSD469million)tosubsidizelendingtoagriculturalproducersatapreferentialinterestrate.IncreasedthePortandAirportLevy(PAL)onmilkpowderby10percent,effective22September2023.Thegovernmentannouncedthatthiswillnotaffecttheretailpriceforpowderedmilk,whichwillbeabsorbedbyimportersordistributors.Announcedanintentiontoprovidesupportpaymentstoagriculturalproducersandtopurchasefoodproducts,includingTRY1.07billion(USD42.5million)withinthescopeofmilksupport.Setthefarmgatepriceonrawcowmilkwith3.6percentfatand3.2percentproteincontentatTRY11.5perlitre(USD0.43perlitre),effective1August2023.Ifcooling,transportationandothercurrentexpensesarecoveredbythemanufacturer,theseexpenseswillbepaidtothemanufacturer.Announcedtheestablishmentoflivestockclustersin25districtscoveringtheprocessingofmeatanddairyproductsfromthebeginningtothesaleoffinishedgoods,productionofready-madefodderproducts,deliveryofproductivebreedingstocktohouseholds,slaughterhousesandskinreceivingandprocessingfacilities.Theseclustersaimtoimprovelivestockbreedingandprocessingofmeatanddairyproducts.ThefullcollectionstartinginJanuary2011isavailableat:https://www.fao.org/markets-and-trade/commodity-policy-archive/en/?groupANDcommodity=Milk%20and%20dairy%20productsStatisticalappendixStatisticalappendixtables40−4142−43AppendixTable1(A&B):Cerealstatistics44−45AppendixTable2(A&B):Wheatstatistics46−47AppendixTable3(A&B):Coarsegrainsstatistics48−49AppendixTable4(A&B):Maizestatistics50−51AppendixTable5(A&B):Barleystatistics50−51AppendixTable6(A&B):Sorghumstatistics52−53AppendixTable7(A&B):OtherCoarsegrainsstatisticsAppendixTable8(A&B):Ricestatistics54AppendixTable9:Cerealsupplyandutilizationinmainexportingcountries55AppendixTable10:Totaloilcropsstatistics56AppendixTable11:Totaloilsandfatsstatistics57AppendixTable12:Totalmealsandcakesstatistics58AppendixTable13:Sugarstatistics59AppendixTable14:Totalmeatstatistics60AppendixTable15:Bovinemeatstatistics61AppendixTable16:Ovinemeatstatistics62AppendixTable17:Pigmeatstatistics63AppendixTable18:Poultrymeatstatistics64AppendixTable19:Milkandmilkproductsstatistics65AppendixTable20:Fishandfisheryproductsstatistics66AppendixTable21:Selectedinternationalpricesforwheatandcoarsegrains66AppendixTable22:Wheatandmaizefuturesprices67AppendixTable23:Selectedinternationalpricesforriceandpriceindices68AppendixTable24:Selectedinternationalpricesforoilcropproductsandpriceindices69AppendixTable25:Selectedinternationalpricesforsugarandsugarpriceindex70AppendixTable26:Selectedinternationalpricesformilkproductsanddairypriceindices71AppendixTable27:Selectedinternationalmeatprices72AppendixTable28:SelectedinternationalmeatpricesandFAOmeatpriceindex73AppendixTable29:Fishpriceindices74AppendixTable30:Selectedinternationalcommodityprices38FNOOOVDEMOBUETRLO20O2K3NOTESGENERALtheAutonomousRepublicofCrimea,StocksthecityofSevastopolandcertain•FAOestimatesandforecastsareareasoftheDonetskandLuhansk•Cereals:Datarefertocarry-oversatbasedonofficialandunofficialregions.Theinformationispresentedthecloseofnationalcropseasonssources.withoutprejudicetorelevantUNendingintheyearshown.GeneralAssemblyandUNSecurity•Unlessotherwisestated,allchartsCouncilresolutions,includingUNPriceindicesandtablesrefertoFAOdataasGeneralAssemblyresolution68/262•TheFAOpriceindicesarecalculatedsource.of27March2014andUNSecurityCouncilresolution2202(2015)of17usingtheLaspeyresformula;the•EstimatesofworldimportsandFebruary2015,whichreaffirmtheweightsusedarebasedontheexportsmaynotalwaysmatchterritorialintegrityofUkraine.averageexportvalueofeach-mainlybecauseshipmentsand•‘-‘meansnilornegligible.commodityforthe2014-2016deliveriesdonotnecessarilyoccurin•Cerealsincludewheat-riceandperiod.thesamemarketingyear.coarsegrains.Coarsegrainsincludemaize-barley-sorghum-milletCOUNTRYCLASSIFICATION•Tonnesrefertometrictonnes.-rye-oatsandNES(notelsewhere•Alltotalsarecomputedfromspecified).Inthepresentationofstatisticalmaterial,referencesaremadetounroundeddata.Productionspecialcountrygroupings:Low-•Regionaltotalsmayincludeestimates•Cereals:DatarefertothecalendarIncomeFood-DeficitCountries(LIFDCs)-LeastDevelopedCountries(LDCs).forcountriesnotlisted.ThecountriesyearinwhichthewholeharvestorTheLIFDCsinclude51countriesthatshowninthetableswerechosenbulkofharvesttakesplace.arenetimportersofbasicfoodstuffsbasedontheirimportanceofeitherwithpercaputincomebelowtheproductionortradeineachregion.UtilizationlevelusedbytheWorldBanktoThetotalsshownforCentralAmerica•Cereals:DataareonindividualdetermineeligibilityforInternationalincludecountriesintheCaribbean.DevelopmentAid(IDA)assistance(i.e.•EstimatesforChinaalsoincludecountry’smarketingyearbasis.USD1945in2011).TheLDCsgroupthosefortheTaiwanProvinceofcurrentlyincludes47countrieswithChina-HongKongSARandMacaoTradelowincomeaswellasweakhumanSAR-unlessotherwisestated.•TradebetweenEuropeanUnionresourcesandlowlevelofeconomic•Upto2019/20,theEuropeandiversification.ThelistisreviewedUnionincludes28memberstates.memberstatesisexcluded-unlesseverythreeyearsbytheEconomicandFrom2020/21,theEuropeanUnionotherwisestated.SocialCounciloftheUnitedNations.includes27memberstates.•Wheat:Tradedataincludewheat•InformationprovidedbytheRussianflourinwheatgrainequivalent.TheDISCLAIMERFederationincludesstatisticaldatatimereferenceperiodisJuly/June-fortheAutonomousRepublicofunlessotherwisestated.ThedesignationsemployedandCrimeaandthecityofSevastopol,•Coarsegrains:ThetimereferencethepresentationofmaterialinthisUkraine,temporarilyoccupiedbytheperiodisJuly/June-unlessotherwisepublicationdonotimplytheexpressionRussianFederationandispresentedstated.ofanyopinionwhatsoeveronthepartofwithoutprejudicetorelevantUN•Rice,dairymeatandfishproducts:theFoodandAgricultureOrganizationofGeneralAssemblyandUNSecurityThetimereferenceperiodisJanuary/theUnitedNationsconcerningthelegalCouncilresolutions,includingUNDecember.statusofanycountry-territory-cityorGeneralAssemblyresolution68/262•Oilseeds,oils/fatsandmeals:Theareaorofitsauthorities-orconcerningof27March2014andUNSecuritytimereferenceperiodisOctober/thedelimitationofitsfrontiersorCouncilresolution2202(2015)of17September-unlessotherwisestated.boundaries.February2015,whichreaffirmtheterritorialintegrityofUkraine.•InformationprovidedbyUkraineexcludesstatisticaldataconcerningNFOOVOEDMOBUERTL2O0O2K339StatisticalappendixAPPENDIXTABLE1(A):CEREALSTATISTICSAPPENDIXTABLE1(A):CEREALSTATISTICSProductionImportsExports2019-20212022202319/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(..........................................milliontonnes..........................................)ASIA1223.71253.41265.9253.1253.7248.270.573.173.7Bangladesh42.244.244.710.17.78.4China56.30.1--India556.5569.4576.60.356.356.8Indonesia281.4293.7297.812.20.30.32.82.42.7Iran(IslamicRepublicof)17.5Iraq56.457.155.64.313.712.726.924.921.3Japan19.319.319.823.116.115.6Kazakhstan1.30.10.20.2Myanmar6.83.25.50.55.84.9Pakistan8.78.58.52.122.523.10.10.10.1Philippines17.521.315.910.0RepublicofKorea18.717.318.116.41.01.0---SaudiArabia43.344.247.014.60.40.4Thailand20.921.421.05.62.72.20.30.30.3Türkiye4.04.03.914.610.311.3VietNam0.71.00.816.716.617.18.710.39.825.427.827.014.213.234.138.137.04.94.73.63.44.232.832.232.318.212.915.115.84.74.65.80.10.10.10.10.10.1---6.68.49.44.95.67.67.28.67.6AFRICA197.8199.3199.896.891.195.27.47.16.7Algeria4.34.13.6Egypt12.812.813.5---Ethiopia20.721.921.7Morocco28.928.928.322.719.020.30.30.10.1NigeriaSouthAfrica6.33.35.52.02.02.21.31.21.1Sudan26.326.826.617.618.919.88.58.38.30.10.10.16.77.55.47.98.38.4---2.82.52.72.73.83.72.42.42.70.10.20.1CENTRALAMERICA&THE42.642.541.937.237.338.11.71.31.3CARIBBEANMexico36.336.235.824.024.424.41.51.21.2SOUTHAMERICA230.3246.5249.634.031.632.996.396.7110.5Argentina86.980.465.8Brazil0.10.10.156.336.146.4Chile114.2135.7155.7Colombia2.92.52.510.28.88.934.352.657.9Peru3.43.33.6Venezuela(BolivarianRepublicof)4.34.44.44.13.74.00.0-0.11.92.32.28.68.88.9---6.25.55.90.10.10.12.52.32.4---NORTHERNAMERICA490.6473.4509.510.110.210.1120.9103.6106.2Canada58.165.055.727.933.028.3UnitedStatesofAmerica4.13.32.993.070.678.0432.5408.5453.86.06.87.2EUROPE538.6517.9511.232.550.742.4145.2151.6141.9EuropeanUnion301.9269.0272.345.144.546.5RussianFederation121.4146.4134.424.742.233.743.952.157.4Ukraine49.949.332.875.055.556.60.60.60.70.20.20.2OCEANIA45.060.341.52.42.12.326.143.528.9Australia43.959.240.50.60.20.326.143.528.8WORLD2768.52793.32819.3466.1476.9469.2468.0476.9469.2LIFDC141.2139.7140.447.847.647.34.33.12.8LDC190.5191.8191.944.640.743.18.99.710.040FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE1(B):CEREALSTATISTICSAPPENDIXTABLE1(B):CEREALSTATISTICSTotalUtilizationStocksendinginPercaputfooduse19/20-21/222022/232023/242020-20222023202419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(.........................milliontonnes.........................(.)..........Kg/year...........)ASIA1394.91427.81442.4576.1584.4584.8156.5157.3157.6Bangladesh52.053.053.38.68.28.0218.3220.2220.2China155.6156.2156.3India607.0619.2629.1391.6399.7401.0145.7147.5148.3Indonesia252.3267.3270.466.964.270.4173.7171.5172.8Iran(IslamicRepublicof)8.56.77.6202.6202.8203.1Iraq69.969.169.111.112.111.9185.9191.7191.6Japan35.635.536.12.72.01.7Kazakhstan10.210.611.07.06.96.892.091.489.9Myanmar31.530.931.54.36.03.1156.2155.8156.1Pakistan10.010.010.14.03.83.5204.1205.7205.8Philippines15.414.814.74.14.95.1135.9135.8135.9RepublicofKorea40.143.143.84.63.83.5164.9167.8169.2SaudiArabia30.832.732.84.64.74.7121.7121.5120.9Thailand20.121.020.94.75.96.1131.0132.0131.9Türkiye15.314.013.710.512.311.2118.4119.8119.8VietNam23.323.523.49.912.710.1242.0243.5244.042.946.145.35.56.05.8171.9166.6164.2AFRICA41.740.239.7AlgeriaEgypt287.4288.6290.959.655.854.9149.9148.7147.9Ethiopia17.616.616.8228.9229.2229.1Morocco43.341.841.86.05.35.6258.7255.6254.8Nigeria29.330.030.1189.1190.2191.1SouthAfrica15.313.212.84.83.13.2240.9240.9241.3Sudan34.434.934.4129.4127.7122.117.317.418.97.26.66.0163.5162.4162.69.49.99.6174.6172.6173.15.04.04.91.81.11.23.84.94.73.53.32.9CENTRALAMERICA&THE78.279.179.39.89.48.6161.7160.4160.3CARIBBEAN58.760.259.67.47.16.7198.9199.7199.0Mexico170.0177.0182.335.727.225.2113.4113.4113.0SOUTHAMERICA32.232.830.510.610.06.4121.7121.4120.8Argentina90.997.116.1110.2108.9107.8Brazil7.06.5104.39.012.6144.4142.1141.9Chile11.812.46.50.60.60.4100.3101.3101.6Colombia10.510.31.31.41.2147.4147.7147.5Peru4.44.712.51.00.90.5105.8108.6Venezuela(BolivarianRepublicof)10.50.60.70.796.7390.7385.9109.6110.2NORTHERNAMERICA34.533.34.574.661.383.1109.196.697.1Canada8.97.57.196.0UnitedStatesofAmerica356.2352.6391.7111.1111.732.265.753.876.0110.6EUROPE416.3404.7132.4132.6EuropeanUnion279.2264.5359.582.0112.8119.1131.8138.0138.2RussianFederation40.144.739.5135.6126.8126.5Ukraine77.275.1405.116.438.039.8125.8146.0148.020.118.1264.611.611.518.0143.5OCEANIA94.193.8Australia19.618.875.95.87.55.694.3104.1103.616.715.817.65.16.85.0103.8WORLD148.5148.6LIFDC2757.22781.818.5843.5858.4881.1148.1141.2141.5LDC183.0187.215.547.945.944.1142.2154.7154.6224.1228.849.647.344.3155.42810.4189.2230.2NFOOVOEDMOBUERTL2O0O2K341StatisticalappendixAPPENDIXTABLE2(A):WHEATSTATISTICSAPPENDIXTABLE2(A):WHEATSTATISTICSProductionImportsExports2019-20212022202319/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(..........................................milliontonnes..........................................)ASIA340.1345.4349.8101.9107.999.719.418.620.1BangladeshChina1.01.21.26.75.15.9---China(mainland)135.0137.7136.510.915.211.90.30.30.5TaiwanProvinceofChinaIndia134.9137.7136.59.113.510.00.20.20.5IndonesiaIran(IslamicRepublicof)---1.31.21.4---IraqJapan107.0107.7112.7--0.14.91.61.2KazakhstanPakistan---10.79.410.00.10.10.1PhilippinesRepublicofKorea12.913.013.54.23.63.0---SaudiArabiaThailand4.92.84.32.23.22.3---Türkiye1.01.01.05.35.25.30.20.20.212.516.411.21.20.90.97.69.59.025.726.227.61.92.52.00.10.40.4---6.35.66.10.00.1---0.14.14.35.00.1--0.40.60.53.34.43.7------3.03.12.7---19.019.820.59.912.59.04.44.97.0AFRICA27.226.426.251.551.755.00.90.60.5AlgeriaEgypt3.13.02.57.68.39.0---EthiopiaMorocco8.99.79.712.111.112.00.30.10.1NigeriaSouthAfrica5.65.85.71.31.51.7---Tunisia4.72.54.15.05.86.10.0--0.10.10.15.76.06.0---2.02.22.11.71.51.60.10.10.11.21.30.32.02.12.7---CENTRALAMERICA&THE3.23.63.59.38.99.01.00.80.9CARIBBEANCuba---0.70.40.4---Mexico3.23.63.55.25.05.00.80.60.8SOUTHAMERICA29.827.530.814.712.613.515.98.116.2ArgentinaBrazil19.812.616.5---13.64.611.5ChileColombia6.410.610.56.64.95.51.52.73.6PeruVenezuela(BolivarianRepublicof)1.21.31.21.31.11.3------2.02.02.0---0.20.20.22.11.92.0------0.81.01.0---NORTHERNAMERICA79.279.279.12.32.53.146.645.341.5CanadaUnitedStatesofAmerica30.234.329.80.30.10.121.825.222.049.144.949.32.02.43.024.820.119.5EUROPE263.4280.9269.88.015.212.987.494.495.6EuropeanUnion140.1133.9133.4RussianFederation102.74.411.59.131.733.334.0Ukraine78.892.0UnitedKingdomofGreatBritain28.520.722.20.30.30.335.141.549.0andNorthernIreland11.915.514.10.0--18.916.810.01.51.31.40.21.61.1OCEANIA28.040.125.81.31.21.218.632.319.5Australia27.539.725.40.3-0.118.632.319.5WORLD771.0803.1785.1188.9200.0194.4189.7200.0194.4LIFDC23.422.123.427.628.127.80.60.50.5LDC14.714.114.125.123.425.10.20.20.142FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE2(B):WHEATSTATISTICSAPPENDIXTABLE2(B):WHEATSTATISTICSTotalUtilizationStocksendinginPercaputfooduse19/20-21/222022/232023/242020-20222023202419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(.........................milliontonnes.........................(.)..........Kg/year...........)ASIA412.5426.2434.6206.2214.1209.166.367.067.3Bangladesh7.97.17.02.00.70.833.333.933.8China65.566.466.6138.9144.4149.9130.8142.0140.165.966.867.0China(mainland)137.1142.7148.0130.3141.5139.645.645.645.6TaiwanProvinceofChina59.860.360.7India1.31.21.40.40.40.428.128.528.6Indonesia101.8107.9108.625.718.521.5162.7164.9164.8Iran(IslamicRepublicof)144.5143.8143.3Iraq10.610.010.01.51.01.040.441.141.0Japan15.916.516.67.19.08.9141.1141.3141.3Kazakhstan1.51.00.8111.6111.7111.9Pakistan6.66.76.81.20.91.027.528.328.5Philippines6.26.16.13.54.71.447.247.347.4RepublicofKorea6.26.36.42.43.63.795.196.195.8SaudiArabia27.028.629.31.61.51.015.714.914.9Thailand6.26.16.61.11.01.2213.7215.0215.6Türkiye4.14.84.82.33.53.83.73.93.91.51.41.3AFRICA3.22.82.86.68.36.3Algeria24.024.424.5EgyptEthiopia79.180.180.716.612.713.151.050.650.3Morocco210.8211.6211.6Nigeria11.011.211.34.03.63.8179.7179.8179.7SouthAfricaTunisia21.121.221.62.31.41.549.152.353.6208.5209.0209.36.97.47.50.80.40.325.924.824.010.29.79.43.42.53.256.556.156.3205.3206.4206.35.75.65.60.60.30.33.53.63.70.50.60.63.13.23.00.50.60.4CENTRALAMERICA&THE11.411.211.61.72.52.344.843.844.0CARIBBEAN0.70.40.4---54.035.738.4Cuba7.57.67.752.052.252.2Mexico1.21.91.928.829.229.756.456.556.4SOUTHAMERICA6.46.16.16.45.75.0103.5103.9104.0Argentina2.31.21.2Brazil12.012.212.31.51.41.453.552.752.7Chile2.52.52.50.40.40.2107.5106.4106.3Colombia1.92.12.10.40.40.3Peru2.32.22.20.20.20.232.632.932.9Venezuela(BolivarianRepublicof)0.80.91.00.10.10.159.659.659.627.732.232.3NORTHERNAMERICA39.439.740.228.419.421.8Canada9.28.98.65.13.63.681.482.382.2UnitedStatesofAmerica80.680.680.530.230.731.523.315.818.281.682.582.4EUROPEEuropeanUnion180.0182.9183.630.257.761.2105.2105.2105.3RussianFederation110.7109.1109.913.819.317.9109.1110.6110.7Ukraine28.127.8100.1UnitedKingdomofGreatBritain43.543.743.69.199.6111.699.9andNorthernIreland8.37.47.13.12.98.0111.9111.674.5OCEANIA14.114.514.81.62.62.274.975.0Australia66.09.79.29.12.63.62.667.082.165.8WORLD8.37.67.62.13.22.382.882.1LIFDC67.1LDC760.9778.6789.5292.1315.6315.167.041.667.249.851.252.114.312.611.941.532.041.639.740.040.510.06.75.931.631.9NFOOVOEDMOBUERTL2O0O2K343StatisticalappendixAPPENDIXTABLE3(A):COARSEGRAINSTATISTICSAPPENDIXTABLE3(A):COARSEGRAINSTATISTICSProductionImportsExports2019-20212022202319/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(..........................................milliontonnes..........................................)ASIA420.1438.6445.4127.8119.9123.17.78.58.1China275.5287.7295.740.236.640.1275.3287.5295.535.532.135.70.10.10.1China(mainland)4.64.44.3TaiwanProvinceofChina0.20.20.20.30.30.20.10.10.1India50.253.253.11.01.01.3Indonesia21.522.021.511.911.311.3---Iran(IslamicRepublicof)17.216.617.1Japan3.84.14.13.73.73.72.83.93.8Malaysia0.30.20.20.20.20.2Pakistan0.10.10.10.61.01.1-0.10.1Philippines9.310.710.711.711.911.6RepublicofKorea8.18.38.29.98.58.2---SaudiArabia0.20.20.22.31.71.8Thailand0.30.30.34.65.33.7---Türkiye4.85.14.911.49.19.9VietNam14.417.716.0---4.64.44.30.40.60.4---------0.0--0.50.70.60.40.20.3AFRICA145.7148.1147.627.622.924.05.76.25.7Algeria1.21.11.1Egypt7.78.58.15.14.34.4---EthiopiaMorocco23.222.922.510.17.58.0---Nigeria1.60.81.4SouthAfrica---1.31.21.1Sudan21.321.621.1UnitedRepublicofTanzania15.616.617.63.42.42.1---6.07.04.90.1-----7.87.27.20.20.10.12.63.73.60.30.30.40.10.20.1---0.30.20.1CENTRALAMERICA&THE37.637.136.825.525.926.30.60.50.4CARIBBEANMexico32.932.432.218.118.618.60.60.50.4SOUTHAMERICA183.7202.7202.617.417.217.476.784.990.8Argentina66.367.048.5Brazil0.10.10.142.331.234.5Chile100.3117.8138.4Colombia1.61.21.32.72.82.531.748.753.5Peru1.41.51.6Venezuela(BolivarianRepublicof)1.81.91.92.72.42.60.0-0.11.51.71.66.56.66.8---3.83.53.6---1.21.01.0---NORTHERNAMERICA405.0389.1423.36.15.75.471.656.062.0Canada27.930.625.8UnitedStatesofAmerica3.42.52.56.07.86.3377.1358.5397.52.83.23.065.648.255.8EUROPE272.7235.1239.321.232.125.657.256.845.8EuropeanUnion160.1133.9137.5RussianFederation18.228.522.112.910.812.1Serbia41.943.141.7Ukraine7.85.17.30.10.10.18.710.68.3UnitedKingdomofGreatBritainandNorthernIreland46.534.834.40.10.10.12.91.11.18.98.58.00.10.10.131.032.522.81.82.32.20.81.41.1OCEANIA16.919.715.30.30.20.37.410.99.1Australia16.319.114.7---7.410.99.1WORLD1481.71470.51510.3225.9223.9222.0227.0223.9222.0LIFDC97.597.596.47.07.37.73.02.31.9LDC95.697.395.16.16.36.85.24.54.044FJUONOED2O0U20TLOOKAPPENDIXTABLE3(B):COARSEGRAINSTATISTICSAPPENDIXTABLE3(B):COARSEGRAINSTATISTICSTotalUtilizationStocksendinginPercaputfooduse19/20-21/222022/232023/242020-20222023202419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(.........................milliontonnes.........................(.)..........Kg/year...........)ASIA542.7552.7559.5188.2185.3187.214.414.114.1China318.1326.4333.0157.7157.5160.2313.2321.5328.1157.1157.0159.613.413.513.5China(mainland)TaiwanProvinceofChina4.84.84.80.50.50.513.613.613.7India48.150.050.03.52.52.1Indonesia22.823.222.61.61.21.36.96.96.9Iran(IslamicRepublicof)15.815.415.93.22.52.5Japan17.316.717.62.52.92.617.616.816.9Malaysia0.20.20.2Pakistan3.83.83.81.01.01.027.327.527.6Philippines9.210.310.50.90.50.4RepublicofKorea8.82.52.62.21.21.21.1SaudiArabia11.99.59.42.01.81.8Thailand10.412.212.20.80.70.73.53.53.6Türkiye7.13.34.23.7VietNam18.18.98.50.80.40.45.56.26.115.76.66.7AFRICA20.919.910.710.310.3Algeria13.513.9Egypt18.518.518.4EthiopiaMorocco3.53.53.5NigeriaSouthAfrica2.72.62.6SudanUnitedRepublicofTanzania2.62.62.619.419.219.18.68.68.5167.3166.2167.536.737.036.472.772.271.86.55.35.414.714.314.02.01.71.842.341.440.817.816.516.1134.7132.1132.521.721.821.91.71.11.130.129.529.673.673.268.45.03.43.36.26.05.691.791.191.121.521.821.1108.5108.3108.312.912.914.31.61.41.789.790.591.36.46.96.50.70.40.47.57.87.53.14.24.12.62.72.41.10.60.3CENTRALAMERICA&THE62.763.763.57.46.45.698.699.198.4CARIBBEAN50.351.851.06.15.24.7139.7140.8139.7Mexico126.2132.7137.826.819.318.325.825.926.0SOUTHAMERICA25.226.223.98.28.85.27.37.27.2Argentina71.777.885.17.1Brazil4.23.73.814.10.110.925.725.525.4Chile7.88.28.30.20.50.124.724.424.4Colombia5.85.65.80.30.30.330.730.830.9Peru2.62.82.60.30.30.220.721.020.9Venezuela(BolivarianRepublicof)0.30.342.646.549.1346.1341.1345.940.8NORTHERNAMERICA24.923.923.144.93.859.717.717.617.5Canada3.83.24.54.44.4UnitedStatesofAmerica321.3317.2322.837.041.156.419.219.119.0EUROPE231.2216.7216.454.5EuropeanUnion165.0152.1151.351.025.057.220.921.321.4RussianFederation25.921.220.321.221.2Serbia32.930.531.49.811.921.121.121.2Ukraine4.84.84.87.20.921.822.122.2UnitedKingdomofGreatBritain1.28.62.428.932.034.0andNorthernIreland11.710.510.48.59.91.513.613.613.7OCEANIA10.69.18.81.41.7Australia3.67.87.67.59.08.58.43.03.42.89.79.69.5WORLD8.17.87.52.82.6LIFDC346.828.228.328.4LDC1485.11481.71499.0358.028.6367.172.571.772.0101.3103.1103.828.722.928.159.358.959.596.699.299.822.722.1FJUONOED2O0U20TLOOK45StatisticalappendixAPPENDIXTABLE4(A):MAIZESTATISTICSAPPENDIXTABLE4(A):MAIZESTATISTICSProductionImportsExports2019-20212022202319/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(..........................................milliontonnes..........................................)ASIA368.4389.8394.295.191.393.26.47.57.1China264.9277.4285.2264.7277.2285.023.323.524.3---China(mainland)TaiwanProvinceofChina0.20.20.218.719.120.0---India31.435.935.0Indonesia21.522.021.54.64.44.3---Iran(IslamicRepublicof)Japan0.71.11.10.1--2.63.83.6Malaysia---Pakistan0.91.01.2-0.10.1Philippines0.10.10.1RepublicofKorea8.810.210.29.68.88.6---Thailand8.1Türkiye0.18.38.215.515.015.5---VietNam4.60.10.16.44.94.83.73.73.7---4.68.36.54.44.3---0.40.60.40.50.91.0---11.611.711.5---1.71.21.30.0--3.03.12.70.40.50.411.39.09.80.40.20.3AFRICA91.092.294.923.018.719.14.95.55.1AlgeriaEgypt---4.33.53.5---EthiopiaKenya6.87.57.110.07.58.0---MoroccoNigeria10.210.710.5---0.91.00.9SouthAfricaUnitedRepublicofTanzania3.62.93.21.41.81.8------2.62.11.7---12.612.712.50.1-----14.916.117.10.2--2.63.73.66.55.95.9---0.30.20.1CENTRALAMERICA&THE31.931.031.124.525.325.70.60.50.4CARIBBEANMexico27.426.626.817.118.018.00.60.50.4SOUTHAMERICA168.9187.3185.516.115.816.172.481.086.5Argentina58.759.041.0Brazil96.5---38.327.630.5Chile0.8113.1131.9Colombia1.40.60.52.12.11.931.748.753.5Peru1.51.51.6Venezuela(BolivarianRepublicof)1.41.61.62.52.32.5---1.71.66.16.36.4---3.73.43.5---1.21.01.0---NORTHERNAMERICA376.3362.9397.83.93.33.060.347.851.6Canada13.914.514.9UnitedStatesofAmerica3.12.42.21.42.61.6362.4348.4382.90.80.90.858.845.350.0EUROPE133.1100.5112.519.228.922.837.840.929.2EuropeanUnion70.452.360.1RussianFederation14.511.714.016.825.920.04.94.04.7Serbia7.14.56.7Ukraine36.127.727.0---3.76.03.0---2.71.01.0---25.729.520.0OCEANIA0.50.60.60.1-0.10.10.10.1WORLD1170.11164.31216.6181.9183.3180.0182.5183.3180.0LIFDC54.253.154.65.86.06.32.11.51.4LDC56.456.057.05.35.35.74.43.73.546FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE4(B):MAIZESTATISTICSAPPENDIXTABLE4(B):MAIZESTATISTICSTotalUtilizationStocksendinginPercaputfooduse19/20-21/222022/232023/242020-20222023202419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(.........................milliontonnes.........................(.)..........Kg/year...........)ASIA460.5475.2480.0172.7172.4174.09.19.19.0China290.6303.2307.2153.6154.0156.6285.8298.4302.4153.1153.5156.19.910.010.0China(mainland)TaiwanProvinceofChina4.74.74.70.50.50.510.110.110.1India29.632.331.82.32.11.8Indonesia22.723.122.51.61.21.35.55.45.4Iran(IslamicRepublicof)10.410.11.81.51.5Japan15.49.215.72.22.52.35.95.65.4Malaysia14.80.20.20.2Pakistan3.83.81.01.01.027.027.227.4Philippines8.53.89.80.90.50.4RepublicofKorea8.89.79.32.52.52.10.90.80.8Thailand11.69.512.00.80.70.7Türkiye6.312.06.11.31.71.21.01.01.0VietNam8.96.19.60.80.40.415.610.013.85.56.26.1AFRICA13.4Algeria8.98.78.6EgyptEthiopia18.518.418.3KenyaMorocco2.02.02.0NigeriaSouthAfrica1.21.21.2UnitedRepublicofTanzania15.915.815.78.68.68.5108.2107.9109.720.621.020.241.441.541.74.43.43.41.21.11.23.23.13.116.815.515.18.99.69.81.51.01.039.638.738.15.05.15.22.61.91.62.02.62.348.650.350.912.713.012.50.40.2-85.386.186.412.212.313.61.21.21.410.410.310.26.26.56.10.4--34.935.632.22.83.93.889.088.588.60.90.4-71.571.172.0CENTRALAMERICA&THE56.057.157.26.85.74.998.098.597.9CARIBBEAN43.945.445.05.54.54.0139.3140.4139.3Mexico114.1120.6124.025.517.916.924.224.324.4SOUTHAMERICA21.522.420.57.58.04.57.17.07.0Argentina67.372.678.16.7Brazil3.33.23.013.70.110.424.324.124.0Chile7.57.97.90.10.50.120.920.720.6Colombia5.35.25.30.30.30.330.230.430.5Peru2.62.72.60.30.30.215.015.115.0Venezuela(BolivarianRepublicof)0.30.342.045.948.5326.6322.4328.536.2NORTHERNAMERICA15.514.915.540.81.655.814.614.514.4Canada2.52.23.13.03.0UnitedStatesofAmerica311.1307.6313.034.638.453.615.915.815.7EUROPE110.499.1101.630.8EuropeanUnion83.674.976.530.814.535.38.28.38.4RussianFederation10.29.015.213.310.210.610.6Serbia4.38.14.31.5Ukraine6.64.35.92.50.43.51.41.41.45.91.07.21.820.320.520.7OCEANIA0.60.66.68.311.212.413.50.50.1WORLD1176.41201.60.10.12.12.12.1LIFDC57.31182.860.4284.1LDC56.859.160.3297.313.1307.218.218.418.459.012.69.512.338.738.639.69.48.530.230.431.4NFOOVOEDMOBUERTL2O0O2K347StatisticalappendixAPPENDIXTABLE5(A):BARLEYSTATISTICSAPPENDIXTABLE5(A):BARLEYSTATISTICSProductionImportsExports2019-20212022202319/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(..........................................milliontonnes..........................................)ASIA22.721.222.924.122.121.51.10.80.8ChinaIndia2.02.02.09.17.48.3---Iran(IslamicRepublicof)Iraq1.71.41.70.10.30.2---JapanKazakhstan3.13.03.02.42.52.8---SaudiArabiaSyrianArabRepublic1.20.10.9------Türkiye0.20.20.21.21.31.2---3.33.33.00.1--1.00.60.60.10.10.16.15.04.7---1.50.31.0------7.28.58.61.52.21.00.10.20.2AFRICA6.25.05.23.43.03.6---AlgeriaEthiopia1.11.01.00.70.80.8---LibyaMorocco2.22.12.0------Tunisia0.10.10.11.01.01.0---1.50.71.40.80.30.4---0.60.5-0.80.71.2---CENTRALAMERICA&THE1.01.00.80.30.20.2---CARIBBEANMexico1.01.00.80.30.20.2---SOUTHAMERICA6.16.36.91.11.21.03.02.93.2Argentina4.54.55.1---2.82.73.0NORTHERNAMERICA12.713.811.90.40.60.62.83.22.9CanadaUnitedStatesofAmerica9.410.07.80.20.10.22.63.22.83.43.84.00.20.50.40.2-0.1EUROPE93.090.484.51.32.42.018.214.815.6BelarusEuropeanUnion1.21.11.20.10.10.2---RussianFederationUkraine56.651.948.90.92.01.57.66.57.0UnitedKingdomofGreatBritainandNorthernIreland19.822.920.0---4.84.45.08.65.65.9---5.02.72.57.67.47.00.10.10.10.71.11.0OCEANIA13.414.510.9---6.07.66.3Australia13.014.110.5---6.07.66.3WORLD155.2152.4142.930.729.428.831.029.428.8LIFDC4.83.64.2LDC2.42.32.30.20.20.2---------48FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE5(B):BARLEYSTATISTICSAPPENDIXTABLE5(B):BARLEYSTATISTICSTotalUtilizationStocksendinginPercaputfooduse19/20-21/222022/232023/242020-20222023202419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(.........................milliontonnes.........................(.)..........Kg/year...........)ASIA44.543.343.112.210.510.90.70.70.7ChinaIndia10.89.49.92.62.02.10.40.40.4Iran(IslamicRepublicof)Iraq1.81.51.8---1.00.91.0JapanKazakhstan5.46.25.81.41.01.00.30.30.3SaudiArabiaSyrianArabRepublic1.10.91.20.90.30.33.33.13.1Türkiye1.41.51.40.20.20.22.42.42.4AFRICAAlgeria2.32.32.30.40.70.91.11.01.0EthiopiaLibya6.45.24.81.61.41.40.80.80.8MoroccoTunisia1.51.01.11.10.1-13.512.712.18.310.09.41.92.42.41.01.01.09.88.48.61.91.41.52.52.42.41.91.81.80.80.50.511.511.111.02.22.12.0---16.916.015.81.11.11.1---12.912.612.52.31.41.60.40.20.419.619.119.31.41.21.20.40.40.47.47.37.2CENTRALAMERICA&THE1.31.31.00.10.10.1-0.00.0CARIBBEAN1.31.31.0Mexico0.10.10.1-0.00.04.24.54.4SOUTHAMERICA1.61.91.90.70.70.70.50.50.5Argentina10.39.89.30.50.60.6-0.00.0NORTHERNAMERICA6.65.85.3Canada3.73.94.02.22.02.10.50.50.5UnitedStatesofAmerica75.272.971.00.70.70.60.30.30.3EUROPE1.41.41.4Belarus1.41.31.50.60.60.6EuropeanUnion49.245.944.4RussianFederation14.814.714.710.014.514.31.21.21.2UkraineUnitedKingdomofGreatBritain3.73.33.20.40.10.1-0.00.0andNorthernIreland6.86.15.94.85.74.60.80.80.8OCEANIAAustralia6.56.16.22.36.06.41.81.81.86.15.75.8WORLD1.40.91.12.62.93.2LIFDC151.8146.4143.7LDC4.84.24.21.11.21.41.51.51.52.52.32.31.92.62.00.10.10.11.82.62.00.20.20.229.031.931.71.01.01.02.41.61.72.52.42.40.10.10.11.91.81.8NFOOVOEDMOBUERTL2O0O2K349StatisticalappendixAPPENDIXTABLE6(A):SORGHUMSTATISTICSAPPENDIXTABLE6(A):SORGHUMSTATISTICSProductionImportsExports2019-20212022202319/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(..........................................milliontonnes..........................................)ASIA8.58.18.47.95.67.60.10.10.1ChinaIndia3.23.23.27.45.37.2---Japan4.64.14.4---0.0-----0.30.30.3---AFRICA27.629.127.30.91.01.20.60.50.3BurkinaFasoEthiopia1.82.01.9------NigeriaSudan4.23.63.5---0.40.30.26.76.76.6------4.15.24.00.30.30.40.00.1-CENTRALAMERICA&THE4.75.04.80.40.30.3---CARIBBEANMexico4.54.84.60.40.20.2---SOUTHAMERICA5.96.67.5---1.20.91.0ArgentinaBrazil2.22.81.6---1.20.91.0Venezuela(BolivarianRepublicof)2.32.94.8------0.10.1-------NORTHERNAMERICA9.94.89.1---6.52.85.5UnitedStatesofAmerica9.94.89.1---6.52.85.5EUROPE1.30.81.10.10.10.10.10.10.1EuropeanUnion1.00.60.80.1-0.1---OCEANIA1.12.62.50.0--0.92.82.3Australia1.12.62.5---0.92.82.3WORLD58.957.060.69.47.19.29.47.19.2LIFDCLDC19.821.219.50.91.01.10.50.40.218.319.718.00.70.81.00.50.40.2APPENDIXTABLE7(A):OTHERCOARSEGRAINSTATISTICS:MILLET-RYE-OATSANDOTHERGRAINSAPPENDIXTABLE7(A):OTHERCOARSEGRAINSTATISTICS:MILLET,RYE,OATSANDOTHERGRAINSProductionImportsExports2019-20212022202319/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(..........................................milliontonnes..........................................)ASIA20.519.519.90.80.90.80.10.10.1AFRICA20.921.820.20.20.20.10.20.20.3CENTRALAMERICA&THECARIBBEAN0.10.10.10.20.40.1---SOUTHAMERICA2.82.52.70.20.20.30.10.10.1NORTHERNAMERICA6.17.64.51.81.81.82.12.22.0EUROPE45.343.441.20.70.70.71.01.00.9OCEANIA1.92.01.30.10.20.20.40.40.5WORLD97.596.890.23.94.14.04.14.14.050FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE6(B):SORGHUMSTATISTICSAPPENDIXTABLE6(B):SORGHUMSTATISTICSTotalUtilizationStocksendinginPercaputfooduse19/20-21/222022/232023/242020-20222023202419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(.........................milliontonnes.........................(.)..........Kg/year...........)ASIA16.713.415.81.21.31.31.21.01.1ChinaIndia10.98.210.20.81.01.00.50.50.5Japan4.54.04.40.10.10.13.02.72.9AFRICABurkinaFaso0.40.30.30.10.10.1-0.00.0EthiopiaNigeria29.029.129.03.43.13.317.517.216.9Sudan1.81.81.80.30.30.449.849.649.04.03.43.40.50.1-25.722.822.96.86.86.60.20.10.131.030.328.74.95.35.20.20.30.494.494.994.6CENTRALAMERICA&THE5.15.05.00.40.60.60.40.30.3CARIBBEANMexico4.94.84.80.40.60.6-0.00.0SOUTHAMERICA5.05.16.50.50.50.5-0.00.0ArgentinaBrazil1.21.20.70.10.20.1-0.00.0Venezuela(BolivarianRepublicof)2.32.94.70.20.30.4-0.00.0NORTHERNAMERICAUnitedStatesofAmerica0.10.1-----0.00.0EUROPE3.42.62.80.80.60.70.10.10.1EuropeanUnion3.42.62.80.80.60.70.10.10.1OCEANIAAustralia1.41.31.41.40.50.30.20.20.2WORLD1.21.11.21.30.50.20.30.30.3LIFDCLDC0.40.30.20.40.20.30.20.20.20.40.30.20.30.20.3-0.00.061.056.960.78.26.97.03.73.73.721.121.221.23.02.72.917.216.916.819.519.519.52.72.32.514.414.214.1APPENDIXTABLE7(B):OTHERCOARSEGRAINSTATISTICS:MILLET-RYE-OATSANDOTHERGRAINSAPPENDIXTABLE7(B):OTHERCOARSEGRAINSTATISTICS:MILLET,RYE,OATSANDOTHERGRAINS19/20-TotalUtilizationStocksendinginPercaputfooduse21/222022/232023/242020-20222023202419/20-21/222022/232023/24averageaverageestim.f'castaverageestim.f'castestim.f'cast(.........................milliontonnes........................(...).........Kg/year...........)ASIA21.020.820.62.11.11.03.43.33.3AFRICA20.320.820.210.811.511.411.311.110.8CENTRALAMERICA&THECARIBBEAN0.30.30.3---0.20.30.2SOUTHAMERICA2.92.52.90.10.20.21.11.11.1NORTHERNAMERICA5.86.35.31.12.01.12.52.52.5EUROPE44.243.442.48.88.77.311.311.611.6OCEANIA1.51.61.40.60.70.45.35.25.1WORLD95.995.693.023.623.921.25.35.25.3NFOOVOEDMOBUERTL2O0O2K351StatisticalappendixAPPENDIXTABLE8(A):RICESTATISTICSAPPENDIXTABLE8(A):RICESTATISTICSProductionImportsExports19/20-21/222022/232023/242020-2022202320242020-202220232024averageestim.f'castaveragef'castf'castaveragef'castf'cast(...................................milliontonnes,milledequivalent...................................)ASIA463.4469.4470.623.525.925.443.546.045.5Bangladesh37.238.539.0China1.20.40.2---146.1144.0144.3China(mainland)144.8142.8143.15.24.54.72.52.02.1TaiwanProvinceofChinaIndia1.21.21.24.84.14.32.31.92.0Indonesia124.3132.8132.0Iran(IslamicRepublicof)0.10.10.10.20.10.1Iraq34.935.134.1Japan2.62.32.2---19.319.416.2Malaysia0.3--Myanmar7.47.37.20.53.31.4---Pakistan1.61.71.7Philippines1.31.21.3---RepublicofKorea16.114.815.6SaudiArabia8.47.38.61.52.02.0---SriLankaThailand12.813.112.80.70.70.70.10.10.1VietNam3.73.83.7---1.31.41.5-0.10.13.42.32.7---2.01.82.620.622.722.128.227.728.0---4.13.65.03.13.74.1---0.40.40.50.10.10.11.31.21.2---0.30.10.4---0.20.20.26.68.49.41.51.81.86.78.37.3AFRICA24.824.826.017.716.516.20.70.30.4Coted'IvoireEgypt1.01.21.31.71.71.8---MadagascarNigeria4.13.73.90.40.40.3---SenegalSouthAfrica2.83.13.20.60.50.4---UnitedRepublicofTanzania5.05.15.52.12.22.4---0.91.01.01.51.41.40.1-----0.90.91.0---2.51.92.00.20.30.10.50.20.3CENTRALAMERICA&THE1.81.71.72.52.52.80.1--CARIBBEANCuba0.20.10.10.50.50.6---Mexico0.20.10.20.70.80.8---SOUTHAMERICA16.816.416.31.91.92.03.73.73.5ArgentinaBrazil0.90.80.8---0.40.30.4PeruUruguay7.67.36.80.81.01.01.11.20.82.32.32.30.20.10.20.0-0.10.81.01.0---0.91.01.0NORTHERNAMERICA6.45.17.01.62.01.62.72.22.7CanadaUnitedStatesofAmerica---0.50.70.4---6.45.17.01.21.21.22.72.22.7EUROPE2.51.92.13.33.43.80.60.40.5EuropeanUnionRussianFederation1.71.31.32.12.22.50.40.40.4UnitedKingdomofGreatBritainandNorthernIreland0.70.60.70.20.20.30.1-0.1---0.60.60.6---OCEANIA0.20.50.40.80.80.90.10.30.3Australia0.30.50.30.20.20.20.10.30.2WORLD515.8519.8523.951.353.052.851.353.052.8LIFDC20.320.120.5LDC80.380.582.613.212.111.80.70.30.413.411.111.24.64.35.552FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE8(B):RICESTATISTICSAPPENDIXTABLE8(B):RICESTATISTICSTotalUtilizationClosingstocksPercaputfooduse19/20-21/222022/232023/2419/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'cast(...................milliontonnes,milledequivalent................(....)..........Kg/year............)ASIA439.8449.0448.3181.8185.1188.475.876.276.2Bangladesh38.239.239.56.47.47.2181.4183.3183.5China150.0148.4146.3103.1100.1100.876.676.376.3China(mainland)148.4146.9144.8102.699.6100.277.477.177.1TaiwanProvinceofChina0.545.444.343.8India1.21.21.20.543.20.568.370.370.7Indonesia102.4109.5111.837.74.446.8118.2115.5116.6Iran(IslamicRepublicof)0.638.736.837.1Iraq36.536.036.55.40.65.335.942.643.1Japan3.93.63.70.83.20.548.146.745.3Malaysia1.62.02.10.40.30.678.779.980.1Myanmar8.08.17.83.33.73.2188.0189.7189.7Pakistan2.82.92.90.40.40.413.613.813.8Philippines3.81.83.4118.9121.1122.4RepublicofKorea13.913.513.40.71.10.471.070.870.0SaudiArabia4.04.24.12.10.52.133.233.233.5SriLanka1.00.51.2124.7128.9128.9Thailand15.817.116.90.410.10.5100.1102.3102.3VietNam4.14.04.00.63.80.2146.1140.8138.41.21.21.38.29.23.33.33.23.63.513.114.013.922.422.821.8AFRICA41.042.342.86.36.15.426.225.925.9Coted'Ivoire90.691.391.4Egypt2.82.93.00.50.50.636.734.434.4Madagascar99.6104.4104.6Nigeria4.34.24.20.80.60.629.929.729.7Senegal123.4124.0124.1SouthAfrica3.23.63.70.40.90.715.415.215.2UnitedRepublicofTanzania29.325.026.07.27.57.70.40.40.42.32.42.50.40.50.50.90.90.90.20.10.12.21.92.10.50.20.3CENTRALAMERICA&THE4.24.14.20.60.50.718.317.517.9CARIBBEANCuba0.70.60.6---59.853.751.5Mexico0.90.90.90.1-0.17.26.77.1SOUTHAMERICA15.115.014.82.52.21.931.231.030.5ArgentinaBrazil0.60.50.50.1--10.910.39.6PeruUruguay7.27.16.90.50.60.331.030.729.82.52.52.50.40.40.267.167.167.00.10.10.10.10.1-7.47.47.4NORTHERNAMERICA5.25.15.61.31.11.69.99.710.5CanadaUnitedStatesofAmerica0.40.50.50.10.10.310.911.512.24.84.65.11.21.01.39.89.510.3EUROPE5.15.15.20.70.70.75.75.85.9EuropeanUnionRussianFederation3.53.33.40.50.40.46.26.26.2UnitedKingdomofGreatBritainandNorthernIreland0.80.90.90.10.10.15.15.55.50.60.60.60.20.10.16.87.07.1OCEANIA0.91.01.00.20.30.219.620.420.5Australia0.30.40.40.10.20.111.412.512.1WORLD511.2521.6522.0193.5196.0198.953.053.053.0LIFDC31.932.933.35.04.84.0LDC87.889.689.928.228.027.917.017.716.364.563.863.2Note:Totalsandpercentagechangecomputedfromunroundeddata.NFOOVOEDMOBUERTL2O0O2K353StatisticalappendixAPPENDIXTABLE9:CEREALSUPPLYANDUTILIZATIONINSELECTEDEXPORTERS(milliontonnes)APPENDIXTABLE9:CEREALSUPPLYANDUTILIZATIONINSELECTEDEXPORTERS(milliontonnes)Wheat1CoarseGrains2Rice(milledbasis)2021/222022/232023/242021/222022/232023/242021/222022/232023/24estim.f'castestim.f'castestim.f'castUNITEDSTATESofAMERICA(Jun/May)UNITEDSTATESofAMERICAUNITEDSTATESofAMERICA(Aug/Jul)OpeningStocks23.019.015.834.037.637.01.41.31.0Production398.1358.5397.5Imports44.844.949.36.15.17.02.63.32.7TotalSupply2.63.33.7434.7399.4437.21.21.31.2Domesticuse326.6317.2322.8Exports70.467.268.88.77.79.2Closingstocks70.645.157.929.830.731.537.637.056.44.84.65.121.720.619.12.62.02.719.015.818.21.31.01.3CANADA(August/July)CANADATHAILAND(Aug/July)OpeningStocks6.03.73.63.73.83.89.09.510.1ProductionImports22.434.329.825.230.625.821.822.722.1TotalSupply0.20.10.16.42.23.30.10.20.2DomesticuseExports28.638.133.535.336.632.930.932.432.4Closingstocks9.88.98.625.723.923.113.814.013.915.125.521.35.98.96.67.78.29.33.73.63.63.83.83.29.510.19.2ARGENTINA(Dec./Nov.)ARGENTINAINDIA(Oct./Sept.)OpeningStocks2.71.21.28.26.88.837.640.143.2Production129.5132.8132.0Imports22.112.616.570.067.048.50.00.00.0TotalSupply0.00.00.00.10.10.1167.1172.9175.2Domesticuse105.0109.5111.8Exports24.813.817.778.373.957.4Closingstocks22.020.216.66.36.16.124.226.223.940.143.246.817.36.510.447.338.828.21.21.21.26.88.85.2AUSTRALIA(Oct./Sept.)AUSTRALIAPAKISTAN(Sept./Aug.)OpeningStocks2.02.63.22.93.23.41.00.90.4ProductionImports36.239.725.418.319.114.79.37.38.6TotalSupply0.00.00.00.00.00.00.00.00.0DomesticuseExports38.242.328.621.222.318.110.38.29.0Closingstocks8.17.67.67.67.87.54.54.24.127.531.518.810.411.28.05.03.64.52.63.22.33.23.42.60.90.40.4EUROPEANUNION(July/June)EUROPEANUNIONVIETNAM(Jan./Dec.)OpeningStocks10.816.719.324.825.625.03.44.23.8Production138.1133.9133.4157.2133.9137.5Imports28.527.728.04.211.59.118.128.622.1TotalSupply153.1162.1161.8200.1188.1184.62.01.91.8Domesticuse106.0109.1109.9160.2152.1151.3Exports33.933.833.6Closingstocks30.433.534.014.310.912.216.719.317.925.625.021.223.322.821.86.47.28.34.23.83.5TOTALOFABOVETOTALOFABOVETOTALOFABOVEOpeningStocks44.543.243.173.677.078.052.456.058.5197.7Production263.6265.4254.4668.8609.1624.0195.2195.63.2Imports7.014.912.927.234.228.23.33.4259.4156.7TotalSupply315.1323.5310.4769.6720.3730.2250.9255.041.4Domesticuse160.0162.4163.7544.3527.2528.6151.4155.161.2Exports112.0117.6103.6148.5114.9112.943.741.2Closingstocks43.243.143.277.078.088.656.058.51Tradedataincludewheatflourinwheatgrainequivalent.FortheEUsemolinaisalsoincluded2Argentina(December/November)forrye,barleyandoats,(March/February)formaizeandsorghum.Australia(November/October)forrye,barleyandoats,(March/February)formaizeandsorghum.Canada(August.July),EU(July/June),UnitedStates(June/May)forrye,barleyandoats,(September/August)formaizeandsorghum54FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE10:TOTALOILCROPSSTATISTICS(milliontonnes)APPENDIXTABLE10:TOTALOILCROPSSTATISTICS(milliontonnes)Production1ImportsExports19/20-21/222022/232023/2419/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'castASIA149.2161.4159.5142.6144.3143.93.73.6China64.269.369.9105.5109.7107.33.164.164.164.11.10.90.8China(mainland)0.10.10.164.164.164.164.1TaiwanProvinceofChina45.551.948.92.72.82.864.164.1India12.514.014.10.70.90.7-Indonesia0.90.90.93.03.13.2--1.1Iran(IslamicRepublicof)0.20.30.32.12.52.70.1Japan4.94.74.76.06.26.31.41.40.1Malaysia4.02.93.61.11.01.1Pakistan0.20.20.23.52.53.30.10.1-RepublicofKorea1.21.21.21.61.61.6-Thailand3.53.83.34.03.53.90.10.1-Türkiye4.34.14.0-22.925.426.5---AFRICA5.36.26.36.44.55.6-Nigeria0.1----2.11.92.02.7CENTRALAMERICA&THE1.41.21.28.69.4--0.2CARIBBEAN7.88.6Mexico202.1204.6235.7--0.253.928.250.67.111.6-SOUTHAMERICA4.910.0--Argentina130.5160.3166.70.6111.6Brazil11.310.410.40.20.10.13.2Paraguay2.31.13.2--Uruguay--2.12.499.2134.8152.7146.96.2NORTHERNAMERICA27.226.525.42.02.50.20.22.7Canada0.60.8UnitedStatesofAmerica107.5126.2121.51.41.69.50.20.262.18.7--13.6EUROPE79.884.588.928.327.848.5EuropeanUnion30.831.933.524.422.97.899.8107.9RussianFederation22.427.427.26.06.94.512.2Ukraine23.420.623.82.32.00.21.30.1-84.795.92.7OCEANIA3.010.27.2-5.26.27.6Australia2.69.86.7---2.71.0--5.6WORLD593.8640.9666.72.569.769.55.5LIFDC17.515.415.8195.0200.20.813.513.5LDC15.415.716.12.81.51.756.255.9197.53.52.32.228.19.512.22.022.91.11.42.62.11.95.18.1-3.86.5-3.76.4-188.8202.2197.52.02.11.71.81.92.91Thesplityearsbringtogethernorthernhemisphereannualcropsharvestedinthelatterpartofthefirstyearshown,withsouthernhemisphereannualcropsharvestedintheearlypartofthesecondyearshown;fortreecropswhichareproducedthroughouttheyear,calendaryearproductionforthesecondyearshownisused.NFOOVOEDMOBUERTL2O0O2K355StatisticalappendixAPPENDIXTABLE11:TOTALOILSANDFATSSTATISTICS1(milliontonnes)APPENDIXTABLE11:TOTALOILSANDFATSSTATISTICS1(milliontonnes)ImportsExportsUtilization19/20-21/222022/232023/2419/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'castASIA53.155.954.753.955.555.3133.4139.6Bangladesh142.5China2.22.32.2---2.92.62.7China(mainland)14.713.513.20.60.60.644.445.246.3TaiwanProvinceofChina14.2India14.214.214.214.214.214.214.214.2Indonesia1.0Iran(IslamicRepublicof)0.50.50.5---1.01.029.4Japan24.5Malaysia14.417.115.50.30.40.326.929.4Pakistan2.4Philippines0.20.10.130.132.131.120.723.33.3RepublicofKorea5.6Singapore1.01.41.4---2.32.45.5Türkiye2.21.41.31.3---3.33.31.9AFRICA0.7Algeria1.71.91.818.716.917.55.26.03.6EgyptNigeria3.73.63.60.1--5.35.320.5SouthAfrica1.11.21.21.31.01.11.02.32.12.5CENTRALAMERICA&THE3.9CARIBBEAN1.41.51.5---1.81.81.6Mexico0.91.21.60.20.40.60.70.76.0SOUTHAMERICA4.1Argentina1.92.42.51.01.31.23.33.6Brazil20.2Paraguay12.011.811.82.32.22.120.120.13.5Uruguay1.01.01.0-0.10.11.11.111.1NORTHERNAMERICA0.3Canada1.92.01.90.20.20.22.72.40.1UnitedStatesofAmerica1.41.21.20.10.10.13.73.827.1EUROPE2.3EuropeanUnion0.90.80.9--0.11.51.6RussianFederation24.8Ukraine2.72.72.71.61.91.95.85.841.4OCEANIA1.61.61.6---3.93.932.3Australia3.43.23.410.411.111.119.418.94.8WORLD1.0LIFDC0.10.10.16.45.45.83.73.2LDC1.50.60.80.91.63.53.210.310.31.1---0.70.40.50.20.2259.310.60.10.10.1---0.10.212.15.77.07.48.06.97.023.826.20.40.50.54.24.24.32.02.45.36.56.93.82.62.721.823.717.116.216.616.717.617.641.540.913.912.813.23.94.64.533.232.01.61.31.35.06.26.44.74.60.30.30.37.15.95.81.01.10.80.80.82.02.22.21.51.50.70.70.70.80.80.81.11.194.797.597.394.797.397.3245.4253.19.56.86.81.30.80.811.810.58.48.28.20.80.80.812.311.91Includesoilsandfatsofvegetable,marineandanimalorigin.56FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE12:TOTALMEALSANDCAKESSTATISTICS1(milliontonnes)APPENDIXTABLE12:TOTALMEALSANDCAKESSTATISTICS1ImportsExportsUtilization19/20-21/222022/232023/2419/20-21/222022/232023/2419/20-21/222022/232023/24averageestim.f'castaverageestim.f'castaverageestim.f'castASIA44.046.547.514.116.015.3191.4196.4China201.86.68.17.81.51.21.1104.0108.4110.9China(mainland)TaiwanProvinceofChina6.16.16.16.16.16.16.16.16.1India2.7Indonesia0.50.50.5---2.72.721.5Iran(IslamicRepublicof)6.5Japan0.70.70.62.34.13.519.621.34.4Malaysia6.6Pakistan5.25.66.05.45.85.96.06.42.7Philippines4.3RepublicofKorea1.71.81.9---4.44.14.0SaudiArabia4.7Thailand2.52.22.2---6.66.62.1Türkiye8.0VietNam1.61.51.62.52.32.32.52.67.18.0AFRICA0.50.60.50.10.10.14.33.6Egypt14.7SouthAfrica3.03.13.30.30.40.43.94.03.32.4CENTRALAMERICA&THE3.73.43.50.1-0.14.74.6CARIBBEAN11.8Mexico1.81.51.4---2.22.19.1SOUTHAMERICA3.44.14.30.20.20.27.37.436.1Argentina7.4Bolivia(PlurinationalStateof)2.22.62.60.20.20.26.76.90.3BrazilChile6.16.16.30.30.20.37.97.918.3Paraguay1.6Peru4.43.63.51.31.41.414.913.81.1Uruguay2.1Venezuela(BolivarianRepublicof)0.50.50.5---4.02.60.20.7NORTHERNAMERICA0.60.60.40.10.10.12.22.4Canada45.5UnitedStatesofAmerica4.03.93.90.20.20.211.111.53.22.10.18.58.8EUROPE2.22.10.10.142.3EuropeanUnion7.351.635.034.7RussianFederation6.37.1-51.249.723.57.57.375.3Ukraine-0.30.356.2---28.322.32.0OCEANIA22.917.917.38.8Australia--1.21.72.21.51.62.7-0.31.01.0WORLD--17.622.11.61.92.04.8LIFDC1.61.00.20.22.4LDC1.21.20.20.20.30.80.70.6-390.0--2.21.6-44.044.26.35.73.33.17.71.41.51.30.90.920.84.46.340.741.10.20.2--29.514.572.973.20.70.625.2--57.055.011.45.65.80.118.920.12.07.78.3-4.32.12.41.21.35.86.34.43.94.54.84.34.51.613.113.80.42.22.30.329.328.9101.310.712.0373.9378.51.5101.37.06.227.224.71.51.72.30.87.97.20.7-0.12.84.3--5.64.63.73.90.20.41.51.60.10.297.499.896.699.82.61.50.80.81.31.50.60.61Expressedinproductweight;includesmealsandcakesderivedfromoilcropsaswellasfishmealandothermealsfromanimalorigin.NFOOVOEDMOBUERTL2O0O2K357StatisticalappendixAPPENDIXTABLE13:SUGARSTATISTICS(milliontonnes-rawvalue)APPENDIXTABLE13:SUGARSTATISTICS(Milliontonnes,rawvalue)ProductionImportsExportsUtilization2022/232023/242022/232023/242022/232023/242022/232023/24estim.f'castestim.f'castestim.f'castestim.f'castASIA70.669.434.134.218.116.987.988.9ChinaIndia9.010.04.55.80.20.216.416.5IndonesiaJapan32.831.71.00.87.86.527.527.8MalaysiaPakistan2.42.65.85.60.30.37.87.9PhilippinesRepublicofKorea0.70.71.11.1--1.81.8ThailandTürkiye--2.12.10.20.21.91.9VietNam6.87.00.10.20.20.46.26.4AFRICAAlgeria1.81.80.70.3--2.22.2EgyptEswatini--1.91.90.30.31.61.6EthiopiaKenya11.19.40.20.26.86.52.93.0MoroccoMozambique2.82.80.50.40.10.12.62.6NigeriaSouthAfrica0.91.01.51.50.20.22.22.2SudanUnitedRepublicofTanzania10.710.915.916.03.73.921.922.2Zambia--2.12.10.30.31.91.9CENTRALAMERICA&THECARIBBEAN2.52.70.20.20.10.13.33.3CubaDominicanRepublic0.60.7--0.60.60.10.1GuatemalaMexico0.40.40.91.0--1.31.3SOUTHAMERICA0.80.70.40.4--1.11.1ArgentinaBrazil0.40.41.71.70.80.81.21.3ColombiaPeru0.40.40.20.20.10.10.20.2Venezuela(BolivarianRepublicof)--1.71.7--1.61.6NORTHERNAMERICACanada2.12.10.40.40.70.71.71.7UnitedStatesofAmerica0.30.31.51.5--1.71.7EUROPEEuropeanUnion0.40.40.20.2--0.60.6RussianFederationUkraine0.40.4--0.20.20.20.2UnitedKingdomofGreatBritainandNorthernIreland11.612.10.80.94.24.67.77.80.40.40.50.5OCEANIA0.60.50.10.10.10.10.40.4Australia2.62.81.01.0Fiji5.25.6--0.20.24.24.3WORLD49.444.5--1.51.717.817.9LIFDC1.51.51.31.3LDC0.30.31.01.143.038.010.610.62.12.11.91.730.829.61.81.81.21.21.41.40.30.3--0.20.20.70.78.58.3--29.728.512.612.70.10.11.31.38.48.10.20.20.60.611.311.423.925.80.30.30.10.114.615.727.027.10.40.4--16.816.86.16.41.31.64.64.30.10.16.26.21.01.00.81.01.31.30.10.11.71.74.44.63.33.00.1-4.24.41.41.40.20.24.33.61.82.21.11.1179.1175.52.62.10.60.8--5.14.94.14.10.30.30.50.5176.5178.013.013.2--0.40.513.513.70.90.80.10.10.30.33.43.4--3.33.3--0.10.161.960.962.160.710.210.21.21.312.112.01.31.358FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE14:TOTALMEATSTATISTICS1(thousandtonnes-carcassweightequivalent)APPENDIXTABLE14:TOTALMEATSTATISTICSProductionImportsExportsUtilization20222023202220232022202320222023estim.f'castestim.f'castestim.f'castestim.f'castASIA156550159802218892206655555533172745176315China94701973748217857810081009101910104943India926693962213941392Indonesia5157519929827178738005Iran(IslamicRepublicof)258225471741105554505464Japan4219424536953605213227352624Malaysia18281841537611181978197830Pakistan5226511711838922822363Philippines2890296611891093798151485037RepublicofKorea275227681590162540354065SaudiArabia123412548639189842034303Thailand479949714844827820272098Türkiye466445886976697334003439VietNam54125689679657147715543903397183169360656320AFRICA2166121182310629482627Algeria778775442447123850Angola337346297280782779Egypt459383--796729Nigeria27812391238193--SouthAfrica1471146922301725813529344788--14791477CENTRALAMERICA&THE40942137963735CARIBBEAN1112011305143133Cuba232228401741541414214541Mexico36638099491859860978908047--SOUTHAMERICA25832681973910058Argentina4876650044734670Brazil63166514147713903851539321Chile7136117311211353145469Colombia3120832313816210741081Uruguay155615269152960922137227663065309564463745544617441716NORTHERNAMERICA747691261222525132743266Canada116124515463350351UnitedStatesofAmerica5439553999524651793410330210557104114713246980EUROPE7567972168205038463939Belarus491494881983898361EuropeanUnion264724984327943033RussianFederation633986204698339003Ukraine12231177557454254324075913758468UnitedKingdomofGreatBritain9599885868andNorthernIreland4278341462733766031122711362152615737067483697336431OCEANIA5675324494831108311146Australia21852192157105NewZealand801652189218144214408126372562WORLD2804318060505991LIFDC6479677955250317652109LDC44424721272227103610674257410214501463295328398379417714143836236936515723022352247414084140504002539788625512939129571651167336039836357617561657155051550014633145591includesbovine,ovine,pig,poultryandothermeatsallexpressedincarcassweightequivalentsNFOOVOEDMOBUERTL2O0O2K359StatisticalappendixAPPENDIXTABLE15:BOVINEMEATSTATISTICS(thousandtonnes-carcassweightequivalent)APPENDIXTABLE15:BOVINEMEATSTATISTICSProductionImportsExportsUtilization20222023202220232022202320222023estim.f'castestim.f'castestim.f'castestim.f'castASIA221002272675167451177917832780728397China719575353718378764641084911258India43504435Indonesia520527--1378137629723059Iran(IslamicRepublicof)36236628826011807786Japan492508646054421422Malaysia4140777742Pakistan24552533271270111212281241Philippines1831851825293285RepublicofKorea33036111747623718623822458AFRICA6965689959559354415366Algeria14013844920950Angola109110425368Egypt53354744817173097196SouthAfrica969--14414210081720--126130CENTRALAMERICA&THE20113511733681CARIBBEAN959927Mexico435345SOUTHAMERICA2976300336938662458727212802Argentina2176221120021440938219672043BrazilChile1657916943553524476846591236412808Colombia313332857582588523152405Uruguay751378521035010620705229072820498496NORTHERNAMERICA1901873353362727676687Canada7187295251171162UnitedStatesofAmerica61655010944464894341379413533EUROPE143031362610771034EuropeanUnion141213351741182722291983RussianFederation2392495745571271512497Ukraine1289012291UnitedKingdomofGreatBritain1501157616551426102329953andNorthernIreland1024299586256607267226510136712951377130018141798OCEANIA16141615385372851810257Australia27030227510293206NewZealand22998213012759251270WORLD913514497164140879LIFDC2621712784LDC187828306566180721111236362072222211881458105728121375105742616650603175474757851203611917479760026028759861661721266512495479746665985141138163155466810960FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE16:OVINEMEATSTATISTICS(thousandtonnes-carcassweightequivalent)APPENDIXTABLE16:OVINEMEATSTATISTICSProductionImportsExportsUtilization20222023202220232022202320222023estim.f'castestim.f'castestim.f'castestim.f'castASIA103381060167075936351097211325Bangladesh237238----237238China22India52525447380454956315900Iran(IslamicRepublicof)823823---10814813Pakistan28929534-292310SaudiArabia782797-14-4778794Türkiye145147-5-175174605642302601640AFRICA12851Algeria34293416--5133903377Nigeria36436312--364363SouthAfrica408407-124-408407161159--5159157CENTRALAMERICA&THE2-CARIBBEAN2Mexico1461481213--158161SOUTHAMERICA108110-1--108110Brazil33434244272931431714114244--145147NORTHERNAMERICA33285248UnitedStatesofAmerica878519616633237205706816514011912612681255EUROPE118311742022073633678685EuropeanUnion57556513915311210211RussianFederation211212UnitedKingdomofGreatBritain--7586272254andNorthernIreland291294853914386327117512065646478541264228OCEANIA3536375373Australia735768109011599268NewZealand4394371216773170091669216972334646WORLD2848283811311196272228132804LIFDC25752565111225502545LDC23NFOOVOEDMOBUERTL2O0O2K361StatisticalappendixAPPENDIXTABLE17:PIGMEATSTATISTICS(thousandtonnes-carcassweightequivalent)APPENDIXTABLE17:PIGMEATSTATISTICSProductionImportsExportsUtilization20222023202220232022202320222023estim.f'castestim.f'castestim.f'castestim.f'castASIA6566067456571956902572507098772890China5636057940247025491291235870160366IndiaIndonesia3163151111316316Japan26326576--270271Malaysia12931298152814933227712766Philippines217212477122262281RepublicofKorea121712484964282216751688Thailand1419139872170891120792098VietNam74679411303271776328803042127101212229863121AFRICAMadagascar20252031335311302923302314Nigeria1715----1715SouthAfrica66--Uganda30730531331135236330242423358364CENTRALAMERICA&THE129130----130130CARIBBEANCuba213921671703174232429735183612Mexico1191162125--140140SOUTHAMERICA173017671334134430527827592833ArgentinaBrazil773480804854601705189765146643Chile723761492315771779Colombia32518654501471161537183837NORTHERNAMERICA576582136163229269483476Canada517541166141--683682UnitedStatesofAmerica14515146121019913415542391136311302EUROPE226322272692921427132211151202Belarus74861927272917EuropeanUnion12252123851024610099RussianFederation1423125549494281Serbia2963528178606738422610925152Ukraine364361387385UnitedKingdomofGreatBritain12910343883723andNorthernIreland222742082050412222731801517200452246267564181643504393OCEANIA304304672022362352Australia642665708683PapuaNewGuinea903836264201104391416811549WORLD3262783951LIFDC5856142421993648872842LDC43646564261556--848589901100810649114591104412229312313918719044121692122754145514492272122216381635194219342167214462FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE18:POULTRYMEATSTATISTICS(thousandtonnes-carcassweightequivalent)APPENDIXTABLE18:POULTRYMEATSTATISTICSProductionImportsExportsUtilization20222023202220232022202320222023estim.f'castestim.f'castestim.f'castestim.f'castASIA549305550979378073339133015950160263China2523825852163417317937842608026800India55Indonesia37763822--2237713818Iran(IslamicRepublicof)42544284--162842514282Japan19231877108365520141885Kuwait24292433135913407637843788Malaysia1741786261RepublicofKorea67681772336863234240SaudiArabia15661585242282545716801757Thailand100561565511681209Türkiye9992213401399149115389309406360763632AFRICA18911976583558Angola247223352322224413112617721763SouthAfrica329260--7456702637339196479145CENTRALAMERICA&THE52605957381320CARIBBEANCuba1951189722652231Mexico5772590019272008453376547875SOUTHAMERICA2525343352--367377Argentina9Brazil38013886104611191948284996Chile5332239472450243440050301721935119570NORTHERNAMERICA2319232515722721072160Canada535002UnitedStatesofAmerica155051607645981441091211077769734172137193748727EUROPE4171EuropeanUnion251802536344238441541662138221587RussianFederation1531157721522816215851640Ukraine2231524005UnitedKingdomofGreatBritain236492378639931979319944andNorthernIreland2313238432562208322487667728334520072104721615OCEANIA130631342220921120271170212143Australia8077380NewZealand48164845380450464046761251127711141127426905904WORLD220LIFDC1948195212512229427692859LDC5586163616662188571674170213751402592813221349155001561629223225128112951630519519813761297161851614100514245316211402551417562510252422377538022902292842564204NFOOVOEDMOBUERTL2O0O2K363StatisticalappendixAPPENDIXTABLE19:MILKANDMILKPRODUCTSSTATISTICS(thousandtonnes-milkequivalent)APPENDIXTABLE19:MILKANDMILKPRODUCTSSTATISTICSProductionImportsExports202220222020-2021202220232020-202120232020-20212023averageestim.f'castaverageestim.averageestim.f'castf'castASIA405554421420431198506104989788959490China3699540813434551881317449477071001008596India115849415597148Indonesia215512226090231740107745965258Iran(IslamicRepublicof)1579160016113205377514054Japan810878407900342611201590Malaysia75157617731513070241071852Pakistan48474720351905101365105Philippines2379242317535269388RepublicofKorea6174064280649702159129010SaudiArabia272627321292894128Singapore257628063693944Thailand2072198619401396153623851294Türkiye29132920292526552634141514874241284146114642826402323405AFRICA---166817461258295304Algeria13071222122017491001499Egypt233522156321990120971160Kenya1089741066SouthAfrica53750534345310310553985612231-Tunisia330933703375322234049804-550751755123116010413758147251CENTRALAMERICA&THE57655875576015539279CARIBBEAN3839377137473681808202CostaRica142714261420100326196377360Mexico31738852519714441SOUTHAMERICA619Argentina19633201002035360676206665784466191Brazil121712201217636866139107Colombia305181165Uruguay133181373813985374838384298437246164036NORTHERNAMERICA679216781368322322731993820226924301937Canada116731190411780153328UnitedStatesofAmerica36606359343665010612473103211511807322025EUROPE7204742173624915254921482Belarus23072310233052424415181504EuropeanUnion13506RussianFederation1116831124551130142866328533331382414926791Ukraine971497339793853910918868844UnitedKingdomofGreatBritain12715andNorthernIreland101969102722103221200423662406129551408233860OCEANIA23452923302023426512540119521185935217324424443Australia77937869824869777844364407NewZealand244111600311593431598213325338532442558023078443WORLD322823297733960382435743625384394524LIFDC898977687224499535LDC3882052023145156781554115587323629363731341034522232630950295082962723039217602418905184358385173116561846290029841221123213841990521878210512122020133187722551802148400992401893775094988287413848696675774158367584898759586051850266816483524023240378403603862330133373473285027455943661Forproduction,theannualdairycyclestartinginAprilisappliedNote:Tradevaluesthatrefertomilkequivalentswerederivedbyapplyingthefollowingweights:butter(6.60),cheese(4.40),skim/wholemilkpowder(7.60),wholecondensed/evaporatedmilk(2.10),yoghurt(1.0),cream(3.60),casein(7.40),skimmilk(0.70),liquidmilk(1.0),wheydry(7.6).Theconversionfactorscitedrefertothesolidscontentmethod.RefertoIDFBulletinNo.390(March2004)64FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE20:FISHANDFISHERYPRODUCTSSTATISTICS1APPENDIXTABLE20:FISHANDFISHERYPRODUCTSSTATISTICS1CapturefisheriesAquacultureExportsImportsproductionfisheriesproduction2022202220202021202020212021estim.20232021estim.2023USDbillionf'castUSDbillionf'castMilliontonnes(liveweightequivalent)66.1ASIA246.846.677.580.362.766.862.956.766.730.4ChinaChina,HongKongSAR13.212.949.651.223.524.623.022.728.53.72.0TaiwanProvinceofChina0.10.1--0.50.61.43.63.40.2India0.6Indonesia0.60.70.30.31.71.71.61.82.113.9Japan6.1Philippines4.65.08.69.47.57.97.50.20.20.7RepublicofKorea4.0Thailand6.97.15.25.55.35.54.80.50.72.2VietNam3.23.10.60.62.52.62.514.115.25.70.71.41.30.60.62.02.41.95.96.60.40.11.91.80.90.90.90.90.80.60.81.00.11.61.41.01.05.45.85.33.84.30.43.53.54.74.79.09.79.42.02.32.00.8AFRICA9.810.42.32.37.98.48.95.45.90.1EgyptMorocco0.40.41.61.6-0.1-0.80.93.7Namibia0.2Nigeria1.41.4--2.82.92.90.30.31.6Senegal0.7SouthAfrica0.30.4--0.80.80.90.10.10.30.3CENTRALAMERICA&THE0.80.80.30.3-0.10.10.91.0CARIBBEAN30.2Mexico0.50.5--0.60.70.60.10.13.2Panama0.60.5--0.70.70.70.40.526.92.02.20.40.42.92.72.82.12.175.362.91.51.60.30.21.41.01.21.00.932.30.20.2--0.10.20.20.10.10.11.8SOUTHAMERICA10.111.63.33.420.924.723.83.13.52.9ArgentinaBrazil0.80.9--1.91.71.60.20.22.1Chile1.7Ecuador0.70.80.60.60.40.40.41.31.50.3Peru1.82.01.51.46.88.59.10.50.5185.2154.60.60.90.80.97.19.28.80.20.34.95.66.50.10.23.83.92.90.30.31.3NORTHERNAMERICA5.35.30.60.613.513.112.033.535.7CanadaUnitedStatesofAmerica0.70.70.20.27.16.55.63.63.94.34.30.40.45.65.85.629.931.8EUROPE13.813.53.33.665.169.769.969.874.3EuropeanUnion23.93.61.11.237.839.640.758.162.3ofwhichextra-EUIceland----8.18.78.829.831.2NorwayRussianFederation1.01.0-0.12.62.92.70.10.12.52.41.51.713.915.515.91.41.65.15.20.30.36.17.06.12.62.6OCEANIA1.51.50.20.23.23.23.31.92.2AustraliaNewZealand0.20.20.10.10.90.81.01.51.8WORLD30.40.30.10.11.31.21.30.20.2Excl.intra-EULIFDC89.691.287.690.9176.2188.5183.7172.5190.5LDC----146.5157.7151.8144.2159.47.88.23.23.419.921.421.04.64.99.810.04.64.53.94.34.21.21.31Productionandtradedataexcludewhales,seals,otheraquaticmammalsandalgae.Tradedataincludefishmealandfishoil2EU-27.Includingintra-trade.CyprusisincludedintheaggregateAsiaaswellasintheEuropeanUnion,butnotintheaggregateEurope.3Forcapturefisheriesproduction,theaggregateincludesalso51301tonnesin2020and36530tonnesin2021ofnotidentifiedcountriesthesedataarenotincludedinanyotheraggregates.TotalsmaynotmatchduetoroundingNFOOVOEDMOBUERTL2O0O2K365StatisticalappendixAPPENDIXTABLE21:SELECTEDINTERNATIONALPRICESFORWHEATANDCOARSEGRAINSWheatMaizeBarleySorghumPeriodUSNo.2HardUSSoftRedArgentinaUSNo.2Argentina3FrancefeedAustraliafeedUSNo.2Annual(July/June)RedWinterWinterNo.22TrigoPan3Yellow2RouenSouthernYellow22012/132013/14Ord.Prot.1States2014/152015/16.................................................................................(USD/tonne).................................................................................2016/172017/183463113373112772972993042018/192019/203172653352172182432412442020/212021/222662202541731772052432472022/232022–October2111942081671701741851922022–November2022–December1971701901561731591621722023–January2023–February2301882041591651932221922023–March2023–April2322102331661662192651832023–May2023–June2202192311631631842151902023–July2023-August2692542632192242422183082023-September2023-October2752572662302312462223193893063852992882892913434393524223443083112983714233364153213013093013673873153943023123022893613803143753033112992923653953123642983133012863633702843492852992862733433782773452912832662753423652493662682542382553073462573602672372392322923452523352372282482342773162353222082202342432433152313132242372352572472972373032252462302582681DeliveredUnitedStatesf.o.bGulf;2DeliveredUnitedStatesGulf;3UpRiverf.o.b.Sources:InternationalGrainCouncilandUSDA.APPENDIXTABLE22:TOTALWHEATANDMAIZEFUTURESPRICESDecemberMarchMayJulyDec2023Dec2022Mar2024Mar2023May2024May2023July2024July2023.................................................................................(USD/tonne).................................................................................WheatSeptember21216328226333232336235333September28213320223325230327234322October4206332216336223339229332October12204331216337223340230335October18213312223319229322235321October25209307219314225318231318MaizeSeptember21190272196274199274252272September28190263196265200265251263October4191269197272201272245270October12192273198276201276246274October18194268199270203271251268October25189270195273198272248270Source:ChicagoBoardofTrade(CBOT)66FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE23:SELECTEDINTERNATIONALPRICESFORRICEANDPRICEINDICESInternationalpricesFAOindicesPeriodThaiThaiUSlongPakisanFAOAllIndicaJaponicaAromaticGlutinous100%B1broken2grain3Basmati4RicePriceAnnual(Jan/Dec)2016Index..........................(USDpertonne).......................................................(2014-2016=100).............................4073484387959196797710220174153344561131991008010188201820194453655311023106108911088920202021435385500982101101801061242022Monthly51543159797011011490981242022–October2022–November47641557077810611210187872022–December2023–January4514056491068109110129102882023-February2023-March4443856871133112113140106922023–April2023–May4483956981157115115146107972023–June2023-July47941870212521191201591101032023-August2023–September53247371915371261271611201012023–October50744872813961251261581179949043772712501211231461129651545371912731241271501139652444671513721281311471179852843571612441261301411139756244871211251301351401111006454867081109142151140115114640475722110214215212411311960446972511031391491131131131Whiterice-100%secondgrade-f.o.b.Bangkok-indicativetradedprices.2A1super-f.o.b.Bangkok-indicativetradedprices.3USNo.2-4%brokensf.o.b.4UptoMay2011:Basmatiordinary-f.o.b.Karachi;fromJune2011onwards:SuperKernelWhiteBasmatiRice2%.Note:TheFAORicePriceIndexisbasedon21riceexportquotations.‘Quality’isdefinedbythepercentageofbrokenkernels,withhigher(lower)qualityreferringtoricewithless(equaltoormore)than15percentbrokens.Thesub-indexforAromaticRicefollowsmovementsinpricesofBasmatiandFragrantrice.Sources:FAOforindices.Riceprices:CreedRiceMarketReport,Livericeindex.com,ThaiDepartmentofForeignTrade(DFT),ViettradersandotherpublicsourcesNFOOVOEDMOBUERTL2O0O2K367StatisticalappendixAPPENDIXTABLE24:SELECTEDINTERNATIONALPRICESFOROILCROPPRODUCTSANDPRICEINDICESInternationalprices1FAOindices8VegetableoilsOilcakes/mealsPeriodSoybeans2Soybeanoil3Palmoil4Soybeancake5RapeseedOilseedsAnnual(Oct/Sept)meal62012/132013/14..............................................(USDpertonne).................................................................(2014-2016=100)................2014/152015/1656310998355393451321201292016/172017/185219498675343241201161282018/192019/204077776584062709593992020/212021/223967736553512329395852022/232022/2340480672933622595103812022-October2022-November4028206483812589494932022-December2023-January3707445233282478880812023-February2023-March3797836683382439093842023-April2023-May561127210754643471331491152023-June2023-July641167114235204051561961292023-August2023-September58912319945303481341331272023-October7621159810455283671441511276461627109052635614915512664914081043556369148145133649135610185953951481401426491256995610413147136146575113210245763661311321375551077102551834512613012551896393548029811711911652199489347631211811611556711419835173361281301245561127956495321126126119559110092048930112512111752911418934962891191201201Spotpricesfornearestforwardshipment2Soybeans:US,No.2yellow,c.i.f.Rotterdam3Soybeanoil:Dutch,fobex-mill4Palmoil:Crude,c.i.f.NorthwestEurope5Soybeancake:Pellets,44/45percent,Argentina,c.i.f.Rotterdam6Rapeseedmeal:34percent,Hamburg,f.o.b.ex-mill7Theinternationalpricesshownrepresentaveragesforthreeoutoffourquotationsforthemonth.8TheFAOindicesarebasedontheinternationalpricesoffiveselectedseeds,tenselectedoilsandfiveselectedcakesandmeals.TheindicesarecalculatedusingtheLaspeyresformula;theweightsusedarederivedfromtheexportvaluesofeachcommodityforthe2014–2016period.Sources:FAOandOilWorld.68FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE25:SELECTEDINTERNATIONALPRICESFORSUGARANDSUGARPRICEINDEXAnnual(Jan/Dec)I.S.A.dailypriceaverage1FAOSugarPriceIndex2010(2014/16=100)2011Rawsugar2012(USCents/lb)(2014/16=100)2013131.7201421.3160.9201526.0133.3201621.5109.5201717.7105.2201817.083.2201913.4111.6202018.099.1202116.077.4202212.578.6202212.779.52021-October12.9109.32021-November17.7114.52021-December18.52022-January119.12022-February19.2120.22022-March19.4116.42022-April18.8112.72022-May18.2110.52022-June17.9117.92022-July19.1121.52022-August19.6120.42022-September19.5117.32022-October19.0112.82022-November18.2110.52022-December17.9109.72023-January17.7108.62023-February17.5114.42023-March18.5117.22023-April18.9116.82023-May18.9125.22023-June20.2127.02023-July20.5149.42023-August24.1157.22023-September25.4152.22023-October24.6146.323.6148.223.9162.726.3159.225.71InternationalSugarAgreement(ISA)prices:simpleaverageoftheclosingquotesforthefirstthreefuturepositionsoftheNewYorkIntercontinentalExchange(ICE)SugarContractNo.11.Source:InternationalSugarOrganization(ISO).FAOforthesugarindex.NFOOVOEDMOBUERTL2O0O2K369StatisticalappendixAPPENDIXTABLE26:SELECTEDINTERNATIONALPRICESFORMILKPRODUCTSANDDAIRYPRICEINDEXInternationalpricesFAODairyPriceIndexPeriodButter1Skimmilkpowder2Wholemilkpowder3Cheddarcheese4Annual(Jan/Dec)2012..................................................(USDpertonne).....................................................(2014-2016=100)...2013112201437403063333638771412015130201647844148473045638720178320184278360638544542108201910720203306208925373076103202110220223473198624812807119Monthly1422022–October56412011316336642022–November1392022–December55871834306037361372023–January1382023–February44432440318634351352023–March1292023–April38442606304135061272023–May1232023–June49953181385538161182023–July1172023–August66083863425345351162023–September1112023–October62683464389347061096079315137504803111574031323714496352902915350749864968278134244809502127373410465250192672328144555058273134234057516727403402396950622606341839854825246630903918473624322995384249212632321737891Butter-82%butterfat-f.o.b.OceaniaandEU;averageindicativetradedprices.2SkimMilkPowder-1.25%butterfat-f.o.b.OceaniaandEU-averagedindicativetradedprices.3WholeMilkPowder-26%butterfat-f.o.b.OceaniaandEU-averageindicativetradedprices.4CheddarCheese,39%max.moisture,f.o.b.OceaniaandEU,indicativetradedpricesNote:TheFAODairyPriceIndexisderivedfromatrade-weightedaverageofaselectionofrepresentativeinternationally-tradeddairyproductsfromtheEuropeanUnionandOceania.70FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE27:SELECTEDINTERNATIONALMEATPRICESBovinemeatpricesOvinemeatpricePigmeatpricesPoultrymeatpricesPeriodAustraliaUnitedBrazilNewAustraliaUnitedBrazilGermanyUnitedBrazilStatesofZealandStatesofStatesofAnnual(Jan/Dec)AmericaAmericaAmerica20122013.........................................................................................(USDpertonne).........................................................................................20142015417658854765465644862952270022331228188920164009631445274130413229812797231112291972201750167361471247014686323334112106120518862018469971954320364340422669248215821002160420194171639040533578397826482129168215012020446366764196448847102687247518719141631202141987118404552444979258719591728100015372022487371194119512750972626224519891618Monthly4676689843364561507125692370183497014072022-October5544831350325643589827562432165597216262022-November5795885359055616515128522363197996219852022-December11642023-January13382023-February2023-March53018165584753894412298224732005130620572023-April51808038522754934447297625582053123420412023-May48927779495158804644282025552208120220002023-June48667767484359034764269924752261115119832023-July49948103485559755542270924652491117918842023-August54098351481359664188278024312568121318512023-September55568617478760384268269925332666127418872023-October533486285096602538922800258726601281194951288934505458423510284525562754133519485034890147405881333129552478287113071914502390784511549331442910237926671257184351739080453755833161286623212546125217505145915245915468331228182288238612591779Notes:Bovinemeatprices:Australia:Cow90CLexportpricestotheUSA(FAS)UnitedStatesofAmerica:Meatofbovine(fresh,chilledorfrozen),exportunitvalueBrazil:Meatofbovine(fresh,chilledorfrozen),exportunitvalueOvinemeatprices:NewZealand:Mediumtradelamb17.5kgAustralia:Mediumtradelamb18-20kgPigmeatprices:UnitedStatesofAmerica:MeatofSwine(fresh,chilledorfrozen),exportunitvalueBrazil:MeatofSwine(fresh,chilledorfroze),exportunitvalueGermany:MonthlymarketpriceforpigcarcasegradeEPoultrymeatprices:UnitedStatesofAmerica:ChickenCutsandEdibleOffal(fresh,chilledorfroze),exportunitvalueBrazil:MeatandEdibleOffalofPoultry(fresh,chilledorfroze),exportunitvaluePricesforthetwomostrecentmonthsmaybeestimatesandsubjecttorevision.NFOOVOEDMOBUERTL2O0O2K371StatisticalappendixAPPENDIXTABLE28:SELECTEDINTERNATIONALMEATPRICESANDFAOMEATPRICEINDICESFAOindicesPeriodTotalmeatPoultrymeatPigmeatBovinemeatOvinemeatAnnual(Jan/Dec)..............................................................................(2014-2016=100).........................................................................20121051151119311120132014106118113931012015201611211411710711420172018979692102942019202091909291922021202298989896112Monthly2022-October959391961242022-November2022-December10096981011242023-January2023-February9687941001172023-March2023-April108102941181412023-May2023-June1191221021281312023-July2023-August1171241061211192023-September2023-October115122107115121Notes:112119107110128111117106109130113113110112140115113113116123117116114119125118119116119121119120118119114118118122117112115114117116105114109113118106113111109118107TheFAOMeatPriceIndicesconsistof2poultrymeatproductquotations(theaverageweightedbyassumedfixedtradeweights),3bovinemeatproductquotations(averageweightedbyassumedfixedtradeweights),3pigmeatproductquotations(averageweightedbyassumedfixedtradeweights),2ovinemeatproductquotation(averageweightedbyassumedfixedtradeweights):thefourmeatgroupaveragepricesareweightedbyworldaverageexporttradesharesfor2014/2016.Pricesforthetwomostrecentmonthsmaybeestimatesandsubjecttorevision.72FNOOOVDEMOBUETRLO20O2K3APPENDIXTABLE29:FISHPRICEINDICESPeriodTotalWhitefishSalmonShrimpPelagicTunaAnnual(Jan/Dec)97excl.tuna11920121041192013..................................................................(2014-2016=100)..................................................................111788711510499991072014107105102113100108201592978492999120161029711494101101201710610811796921122018106118119889610520191021211088692100202095107978692932021102116109929987202212115613493107102Monthly2021-January96117908493942021-February96115968494892021-March1011111158494922021-April1021121208690902021-May10712012890104842021-June10512411290118802021-July10311311294109812021-August10011110295107832021-September99114989698862021-October1031161089794872021-November1021171059896842021-December1081221199896932022-January111119127971011062022-February11712514697911062022-March1281771479793972022-April13417817097100932022-May132167163961121012022-June13518515895119992022-July1211621359599942022-August119160116931251042022-September11915395901981052022-October119151107901621142022-November11115111286931012022-December11414912884921062023-January12213514884971412023-February129166156821001302023-March13215518082971262023-April13015617082991302023-May13015916281961422023-June132158151811591362023-July124157143791101292023-August117155121791001312023-September11315411379100124SourceoftherawdatafortheFAOFishPriceIndex:EUMOFA,INFOFISH,INFOPESCA,INFOYU,StatisticsNorway.NFOOVOEDMOBUERTL2O0O2K373StatisticalappendixAPPENDIXTABLE30:SELECTEDINTERNATIONALCOMMODITYPRICESCurrencyandunitEffectivedateLatestquotationOnemonthagoOneyearagoAverage2018-2022Sugar(ISAdailyprice)UScentsperlb02-11-2326.2025.2718.48Coffee(ICOdailyprice)UScentsperlb02-11-23155.03149.79156.6614.84Cocoa(ICCOdailyprice)UScentsperlb02-11-23179.63161.28108.06131.88Tea(FAOTeaCompositePrice)USDperkg29-09-23107.062.592.562.93Cotton(COTLOOKAindex)UScentsperlb31-10-2399.682.58Jute“BTD”USDpertonne29-09-2395.5497.951200.00(FobBangladeshPort)730.00700.0094.461031.9274FNOOOVDEMOBUETRLO20O2K3NFOOVOEDMOBUERTL2O0O2K37576INIDMCARKEATORTSFuturesmarketsMarketindicatorsAlexisPoullainPRICESglobalwheatconsumption,resultinginanetdownwardsentimentinthewheatmarkets.MaizefuturespricesWheat,maizeandsoybeanfutureshaveexperiencedremainedunderpressureduetotheexpectationofhighsignificantdeclinessincethebeginningoftheyear.WheatendingstocksintheUnitedStatesofAmerica.TheUnitedfuturesfacedsubstantialdownwardpressure,aspricesStatesanticipatesasubstantialharvest,facedbyasluggishrevolvedbacktotheirthree-yearlows.Thispressureinternationaldemand,contributingtoanoveralldeclinewasdrivenbyrobustBlackSeaexports,primarilyfrominmaizefuturesprices.SoybeanfuturespriceshavealsotheRussianFederation,aswellasfromUkraine,whichdeclinedsincethebeginningoftheyear,althoughtheintroducedanewshippingcorridorprotectedbyitsdefencedeclinehasbeenlesssharpthanforwheatandmaize.system.WhileatighteninginglobalwheatendingstocksSlightlytighterendingstockshaveprovidedsomesupportisexpectedbytheUnitedStatesDepartmentofAgriculturetosoybeanprices.However,thedominanceofBrazilin(USDA)forthisseason,thisshouldbebalancedbysubduedsoybeanexportsandthereducedusageratesfromcrushersCMEfuturespricesCMEfuturesvolumesUSDpertonne300000070025000005252000000350150000010000001755000000Oct-20Oct-21Oct-22Oct-230Sep-21Apr-22Sep-22Apr-23Sep-23Oct-19Apr-21WheatWheatSoybeansMaizeSoybeansMaizeSource:ChicagoMercantileExchange(CME)Source:ChicagoMercantileExchange(CME)Historicalvolatility(30days)Impliedvolatilitypercentpercent120120808040400Oct-20Oct-21Oct-22Oct-230Oct-20Oct-21Oct-22Oct-23Oct-19WheatSoybeansOct-19WheatMaizeMaizeSoybeansSource:ChicagoMercantileExchange(CME)Source:ChicagoMercantileExchange(CME)FOODOUTLOOK77NOVEMBER2023MarketindicatorsasanticipatedbytheUSDAhaveexertedpressureonForwardcurvessnapshotsasofsoybeaninternationalexportpricesand,ultimately,onOct2021,2022and2023soybeanfuturestradedinChicago.WheatMacroeconomicfactorshavefurtheraddedtothecomplexitiesofthegrainmarkets.ThepersistenceUSDpertonneofrecessionsignalsinEuropeandtheUnitedStates3602022alongwithcentralbanks’aimtomaintaininterestrateshighforanextendedperiodandtherepercussionsof320China’spropertycrisisarepromptingconcernsabout2021potentialeconomicdownturnsandimpactingagriculturalproductdemand.280VOLUMESANDOPENINTEREST2023240TheactivityinCMEmarketsincreasedfromJanuarytoSeptember2023,comparedtothesameperiodlastyear,200withvolumesrisingby4.6percentformaize,17.9percentDecMarMayJulSepDecMarMayforsoybeansand13.8percentforUSsoftredwinter(SRW)wheat.Mostofthisincreaseinvolumeswasduetoapar-USDpertonneMaizeticularlydynamicmonthofJuneforfutures,butalsotothe300agriculturaloptionscomplex,whichnotablyexperienceda2023record-highaveragedailytradingvolumeon16June.This2502021higherinflowofvolumescoincidedwithalowerlevelof2022longer-lastingpositioning,sincetheopeninterestforall200threeagriculturalfuturesontheCME,whichrepresentsthenumberofoutstandingcontracts,remainedatalow150level.Ithasbeennotablybelowtheaverageofthelasttenyearssincethebeginningof2023.Thisindicatesthatboth100commercialandfinancialparticipantsarenotinclinedtoDecMarMayJulSepDecMarMayestablishpositionsingrainandoilseedfuturesmarkets.ThisreluctancecanbeattributedtotheenvironmentofUSDpertonneSoybeanshighworkingcapitalconstraintsduetorisinginterestrates.520ThistrendwasalsoobservedonEuronextmillingwheat5002022futurescontracts,whichsawrecordhighlevelsofvolumes4802023tradedintradayinJuly,whileopeninterestremainedata4602021lowpoint,similartolevelslastseenin2019.440VOLATILITYNovJanMarMayJulAugSepNovChicagoMercantileExchange(CME)maizefutureswit-Source:ChicagoMercantileExchange(CME)nessedrecordamplitudesofpricevariationinJuly,primar-ilyduetoerraticweatherconditionsintheUSCornBeltduringcriticalplantgrowthstage.The30-dayhistoricalvolatilityinmaizepeakedat75percentinJuly2023,thehighestlevelrecordedsince2013.Soybeanvolatilityalsoincreasedduetoweatheruncertaintiesbutremainedmorecontained,reachingalevelof30percentinJuly,significantlylowerthanthelevelsobservedlastyear(whichwereover50percent).WheatfuturesexperiencedburstsofvolatilityinJuly,primarilyattributedtotheendoftheBlackSeaGrainInitiativeandmixedharvestoutcomesintheNorthernHemisphere.Thispushedbothhistoricalandimpliedvolatilitytothehigherrangeofobservedvaluesfor78FOODOUTLOOKNOVEMBER2023theseason(60percent);however,itremainedfarbelowtheCMEnet-lengthinlotsMarketindicatorsdecade-highrecordof100percentrecordedinMarch2022(Oct2019-Oct2023)duringtheoutbreakofthewarinUkraine.ThehistoricalvolatilityhasretreatedsincetheendofAugust,remainingatCMEWheatnet-lengthahistoricallylowwatermarkbelow40percent.Thisdeclineinvolatilityformaize,soybeanandwheatfuturesindicatesWheatthatthecurrentpriceequilibriumisnowmorestable.How-ever,itshouldbenotedthatimpliedvolatilityforwheathas200000remainedataround30percentsincetheendofsummer,thehighestrangeofvaluesobservedoverthelasttenyears150000forthesummerseason.Inotherwords,despitethedeclineinwheatfuturesprices,marketparticipantscontinueto100000factor-inahighlevelofuncertaintyasthelargestshareofinternationalwheatexportflowscomesfromtheBlackSea50000regionsincethebeginningoftheseason.Exportersinthisregionaregrapplingwithhighfreightratesandinsurance015/10/2015/10/2115/10/2215/10/23costs,andthemarketcontinuestofaceelevatedtraderisks.15/10/19−50000FORWARDCURVES−100000−150000CommercialsSwapdealersManagedmoneySincethebeginningofthe2023/24season,CMEmaize,CMEMMaaiziezenet-lengthsoybeanandwheatforwardcurveshavebeenincarry(contango),wherepricesforsucceedingdeliverymonthsare800000higherthanthosefornearbyorspotmonths.Thereasonforthispricecurvestructureistoaccommodatestorageneeds,600000giventhechallengingsituationaroundUSgrainexports.Tradersarefactoringintheweakdemand,causingsellers400000toofferdiscountstobuyersfornearbydeliveryanddemandhigherpricesfurtheroutintimedeliveriestoaccountforthe200000higherstoragecosts.015/10/2015/10/2115/10/2215/10/23INVESTMENTFLOWS15/10/19Hedgefundshavebeendivestingfromagriculturalfutures,−200000whilenon-commercialtradershavebeenliquidatingtheirpositionssincethebeginningoftheseason.Thecombined−400000trendofdecliningpricesandasteepeningcontangostructurehasnegativelyimpactedtheperformance−600000ofcommodityindextraders.Thissituationhasledtoliquidatingpositionsinagriculturalfutures,particularly−800000inmaize,soybeanandwheat.Hedgefundsandothernon-commercialtradershavedeleveragedtheirportfolios−1000000toprepareforapotentialbroadrisk—assetdeclineencompassinggrainfutures,pullingbacktheirexposureCommercialsSwapdealersManagedmoneytoagriculturalproducts.Inthiscontext,netpositionsheldbymanagedmoney,aproxyforthebullishstanceofSoybeansspeculators,arenetshortontheagriculturalcommoditiesspace,reflectingtheirbearishviewofthismarket.AlthoughCMESoynet-lengthinvestorsareatathree—yearlowlevelofpositionholding,thenarrativethattheyaretoblameforthelatestprice500000volatilityreturnedtotheforefront.Potentialinitiativesofadditionalregulationshouldbeanticipated.400000300000200000100000015/10/2015/10/2115/10/2215/10/2315/10/19−100000−200000−300000−400000−500000CommercialsSwapdealersManagedmoneySource:ChicagoMercantileExchange(CME)FOODOUTLOOK79NOVEMBER2023MarketindicatorsOceanfreightratesInternationalGrainsCouncil(IGC)OCEANFREIGHTMARKETBDIandIGCGOFI(MAY2023–OCTOBER2023)20October2022–20October2023ThepastsixmonthsfeaturedvariabledynamicsacrosstheRebased,20Oct2022=100maindrybulkvesselsegments.WhilethebenchmarkBaltic120DryIndex(BDI)hasadvancedbyanet43percentsincelateApril,theupsidewasalmostentirelylinkedtosolidgains100intheCapesizesector,especiallyinthepasttwomonths.Ratesacrossthegrains-andoilseeds-carryingsegments–80notablythePanamax,SupramaxandHandysizesectors(thelattersub-IndexwasexcludedfromtheBDIinMarch602018)–postednarrowlymixedchanges,withvaluesforsmallercarriersfaringrelativelybetter.Owingtofirmer40Capesizerates,theBDIwas11percenthigheryear-on-yearasoflateOctober,whilevesselearningsinother20constituentsegmentswerearoundone-quarterlower.0JFMAMJJASOAlthoughtherehavebeenworriesaboutslower-than-OND2023expectedeconomicgrowthinChina,tradestatisticspoint2022torelativelyrobustdataaroundthecountry’sdrybulkimports,includingsolidarrivalsofironoreandcoal–BDIIGCGOFIthelatterbolsteredbyreporteddisruptionstodomestichydropowergeneration.Note:IGCGrainsandOilseedsFreightIndex,constructedbasedonnominalfreightratesonmajorgrains/oilseedsroutesusingtrade-weightedapproach.Inthegrainsandoilseedsmarkets,themid-JulySource:BalticExchange,IGCcessationoftheBlackSeaGrainInitiative–thefour-wayagreementthatenabledshipmentsfromUkraine’sdeepsecurityconcerns.Nonetheless,officialandprivateseaports–hadanegativeimpact.WhileanewseaborneshippingdataconfirmedbriskgrainsandoilseedsseabornecorridorwasestablishedbytheUkrainianauthoritiesdispatchesfromotherkeyoriginsinrecentmonths,shortlyafter,businessviathenewchannelisreportedlyaidedbynorthernhemisphereharvests.Thestrongtraderestrictedbyelevatedfreightratesandconflict-relatedprogresscameinspiteofchallenginglogisticsatsomemainpointsoforigin,includinglowwaterlevelsonkeySummaryofdrybulkfreightmarketsinlandwaterwaysattheUSGulf(MississippiRiver),inBrazil(TapajosRiver),Germany(RhineRiver)andUkraine20OctChanges(DanubeRiver).2023Globalfreightratesalsodrewsupportfromdrought-6monthsy/yinduceddraftlimitationsandincreasedwaitingtimesatthePanamaCanal.Witharoundone-quarterofUS%soybeansandone-fifthofmaizemovedviatheCanalduring2022,shipmentsfromtheUSGulfhavebeenBalticDryIndex(BDI)2046+43-59hamperedbytheaforementionedvesseltrafficrestrictionsasuncertaintyaboutassociatedadditionalcostsforcedSub-indices:vesselownerstoswitchtoalternative,oftenlongerroutes.Furthermore,recentdevelopmentsintheMiddleEastCapesize3556+100+68haveraisedconcernsaboutpotentialdisruptionsatmajorcommercialchokepoints,namelytheSuezCanalandthePanamax1638-2-24StraitofHormuz.Supramax1287+9-23Voyagecostsonmajorgrainsandoilseedsroutes(includingbunkercosts)recordedamodestnetincreaseBalticHandysizeIndexoverthepastsixmonths,asdemonstratedbytheIGCGrainsandOilseedsFreightIndex(GOFI),whichgauges(BHSI)686+6-29nominalfreightratesacrosssevenkeyorigins.LedbygainsinBlackSeavaluesamidbumperwheatdeliveriesfromtheIGCGrainsandOilseedsFreightIndex(GOFI)156+4-11Source:BalticExchange,IGC.4January1985=1000.23May2006=1000.1January2013=100.80FOODOUTLOOKNOVEMBER2023BalticCapesizeIndexGrainsandoilseedscarryingsectors:PanamaxandMarketindicators20October2022–20October2023Supramaxsub-IndicesandHandysizeIndex20October2022–20October2023Rebased,20Oct2022=100200Rebased,20Oct2022=100120100150801006050400MAMJJASO20DJFMAMJJASOONDJFON2023HandysizePanamax202220222023SupramaxSource:BalticExchangeSource:BalticExchangeRussianFederation,theindicatorwasupbyanet4percentstronginterestintransatlanticandfronthauldeliveries,comparedtolateApril.notablytoChina.China’sironoreimportsduringthefirstninemonthsof2023havebeenstrong,reportedtobeAlthoughtheoutlookforthedrybulkfreightmarket6percenthigheryear-on-year.Still,ironoreinventoriesatiscloudedbylingeringfearsofglobaleconomicrecessionportshadrecededtoathree-yearlowbyOctoberamidandongoinghostilitiesinpartsoftheworld,somerobuststeelexportsandbuoyantdemandfromdomesticshippingindustryanalystsexpresscautiousoptimismaboutinfrastructureandmanufacturingsectors.near-termprospectsforthesector.AsidefromhopesforcontinuedeconomicgrowthinChinaandIndia–thePanamaxratesaveragedfractionallylowerinlateworld’smajorimportersofdrybulkcommodities–positiveOctobercomparedtosixmonthsearlier.Despitestrongoutlooksalsocitesupportivesupply-sidefundamentals.activityoutofBrazil,whichmainlyreliesonPanamaxAccordingtoprivateforecasts,thedemandfordrybulkbulkersforitsmaizeandsoybeanexports,freightratescarriersissettooutpacetheexpansioninavailabletonnageinthatsegmentrecededtoamulti-monthlowinJuly,asintheyearahead,withtheemissions-relatedrequirementstraderscitedslowEuropeandemandforcoaldeliveries.oftheInternationalMaritimeOrganization(IMO)seenasThispromptedsomeAtlanticexporterstoredirecttheircappinginvestmentinnewvessels,whilealsoleadingtoshipmentstoAsiaandfuelledcompetitionforbusinessinslowerbulkerspeedsandadditionalcompliancecosts.thePacificBasin.Althoughmovementsintimecharterratesweretwo-Themarketstagedareboundinmid-summeragainstsided,theCapesizesegmentpostedasharprisestartinginthebackdropofsustainedsolidshipmentsfromBrazil,lateApril,asthecorrespondingBalticsub-Indexdoubledwherenewlyharvestedbumpersafrinha(secondcrop)overtheperiod,withespeciallystrongadvanceswitnessedmaizesuppliestookseasonalprecedenceoversoybeaninthepastseveralweeks.Reflectingtherecentupswing,volumesamidtightportlogisticsanddrought-relatedsub-Indexvalueswerequotedas68percenthigheryear-on-bottlenecksonsomeriverroutes.Notably,sentimentatyearasoflateOctober.thatoriginwasboostedbyoptimismaboutlargermaizedeliveriestoChinasincethecountryhasemergedastheDespitebriskmineralflowsfromAustralia,averagekeybuyerofBraziliansuppliesinrecentmonths.Anupticksectorearningsinitiallyplungedamideconomicworries,inenquiriesfromthenorthernPacifictoAsiawasalsoparticularlylinkedtoChina,butthemarketreboundedsupportiveofPanamaxratesamidseasonallyrisingmaizethereafteronbetter-than-expectedMaytradestatistics.andsoybeanavailabilitiesintheUnitedStatesofAmerica.Freshcoal-relatedbusinessfromAustraliaandSouthHowever,slowbargemovementalongtheMississippiAmerica,aswellasincreasingjourneytimesforbauxiteRiver,duetohistoricallylowwaterlevels,weighedonshipments–asactivityshiftedfromIndonesiatoGuinearatesoutoftheUSGulf,withdeliveriesfromthatareatofollowinganexportbanintheformer–providedsupportAsiaalsohinderedbyslowerthannormalvesseltrafficatinthefollowingmonths.FurtherunderpinningcamefromthePanamaCanal.persistenttonnageshortagesinthenorthernAtlanticamidFOODOUTLOOK81NOVEMBER2023MarketindicatorsSummaryoffreightratesonselectedroutesUSD/tCargo/20ChangesUnitedStatesofAmerica(Gulf)to:DischargeOct20236y/ymonths%China(Dalian)66000/8000540-9EuropeanUnion(Rotterdam)66000/100003115-6Japan(Yokohama)66000/8000520-9Canada(St.Lawrence)to:China(Dalian)66000/8000520-10EuropeanUnion(Rotterdam)66000/100002216-6Japan(Yokohama)66000/8000500-10Argentina(Upriver)to:Algeria(Belaja)25500/2500422-24Egypt(Alexandria)49000/6000384-22EuropeanUnion(Rotterdam)66000/100003815-6Brazil(Santos)to:China(Dalian)66000/8000490-11EuropeanUnion(Rotterdam)66000/100003116-6RepublicofKorea(Inchon)66000/7250490-11EU(France,Rouen)to:Algeria(Belaja)25500/2500236-11Egypt(Alexandria)49000/6000238-9Morocco(Casablanca)25500/3000206-10RussianFederation(Novorossiysk)to:Egypt(Alexandria)49000/60002112-11Morocco(Casablanca)25500/3000258-12Tunisia(Bizerte)25500/2500229-13Australia(Kwinana)to:China(Dalian)66000/8000221-20Indonesia(Jakarta)49000/8000185-17RepublicofKorea(Inchon)66000/7250211-21Note:NominaloceanfreightratesforHSS(heavygrains,soybeans,sorghum)cargoes.Valuesdonotrepresentmarketfixtures.Source:IGCRatesintheSupramaxandHandysizesegmentsfirmedmodestlyduringthepastsixmonths.SimilartothePanamaxsector,asubduedtoneprevailedduringthesummerperiod,largelytiedtosluggishdemandintheAtlantic,however,marketsreversedcourseinAugustduetospilloverdemandfromlargercarriersintheAtlantic,coupledwithlimitedtonnageavailabilityintheeasternMediterranean,risingenquirylevelsattheUSGulfandinEurope,aswellasnewcoalbusinessfromIndonesiatoIndia.82FOODOUTLOOKNOVEMBER2023FoodImportBillMarketindicatorsElMamounAmrouk,BingQiaoandFabioPalmeriGlobalfoodimportbilltohitanewrecordhighDecomposingchangesintheFIBin2023ExpendituresonfoodimportsresultfromtheinteractionofFAO’slatestestimatesindicatethattheglobalfoodimportpricesandquantities.Therefore,bydecomposingthechangebill(FIB)willreachUSD2trillionin2023,representinganintheFIBsintopriceandvolumeeffects,itispossibletoincreaseof1.8percentorUSD35.3billionoverthe2022estimatethecontributionsofthetwocomponentsatthelevelandmarkinganewrecordhigh.Theexpectedyear-on-globallevelandacrossallproducts.Thecalculationsindicateyeargrowth,however,representsasignificantdecelerationthattheprojectedincreasesinthe2023FIBsresultfromacomparedtothe11percentincreaseregisteredin2022combinationofpriceandvolumeeffects,withUSD21.1andthe18percentrisein2021(Table1).Overall,fruitsandbillionstemmingfromhighervolumesandUSD19.6billionvegetables,beverages,andsugarledtoanincreaseinthefromhigherimportprices1(Table2).priceeffectofUSD23.6billion,USD11.2billionandUSD9.8billion,respectively.ThiswaspartlyoffsetbydeclinesinThevolumeeffectisprojectedtoexceedthepriceeffectthepriceeffectfromanimalandvegetableoils,oilseeds,andforthefirsttimesince2020,underpinnedbyanoverallcereals(Figures1and2,andTable2).steadydeclineininternationalfoodpricessincethespringof2022.However,therearedifferencesacrossthevariousHigh-incomeandupper-middle-incomecountries(HICsfoodgroups.Foroilseeds,dairyproducts,andcereals,theandUMICs)arepredictedtoaccountforthelion’ssharegrowthintheirimportbillsisexpectedtobelargelyvolume-oftheglobalFIBin2023,with62percentand25percentdriven,whileinthecaseofanimalandvegetableoils,theshares,respectively.TheyarealsoexpectedtodrivetheglobaleffectfromhighervolumesisexpectedtobemorethanincreaseintheFIBthisyear.Lower-middle-incomecountriesoffsetbyanegativepriceeffect,resultinginanoveralldecline(LMICs)andlow-incomecountries(LICs)areexpectedtointheirimportbill.Meanwhile,elevatedimportpricesareseeayear-on-yearcontractionintheiraggregateFIB,byobservedforsomeothercommodities,particularlyhigh-value3.2percentand11percent,respectively.TheFIBoftheorprocessedproducts.Forfruitsandvegetables,beverages,groupofnet-foodimportingdevelopingcountries(NFIDCs)issugar,coffee,tea,cocoaandspices,andmeat,thegrowthinalsoseencontractingby6.8percentin2023.theimportexpendituresisprimarilydrivenbythepriceeffect.AnalysisoftheFIBrevealsseveralnuancesacrossbothThebreakdownoftheFIBbycountryincomegroupsfoodgroupsandcountryincomelevels.Forinstance,revealssomedivergingtrendsin2023.Foodimportbillsforsugarandfruitsandvegetables,importexpendituresareexpectedtocontractfortheleast-developedcountriesareexpectedtogrowby12.5percentand7percent,(LDCs),NFIDCsandthecountriesofsub-SaharanAfrica(SSA)respectively,largelydrivenbyasurgeintheirinternationalby9.2percent,4.6percentand2.5percent,respectively.Itisquotations.Ontheotherhand,theimportbillofanimalinterestingtonotethatthedeclineintheFIBinthesecountryandvegetableoilsissettofallby13percentasaresultofagroupsreflectsbothlowerpricesandlowerquantities.Asubstantialdropintheirworldprices.Amongcountryincomereductioninimportquantities–despitedecliningworldpricesgroups,thedivergingpatternsobservedin2022areforeseen–suggeststhatadditionalfactorsareimpedingtheabilitytopersistin2023.Overall,HICsandUMICsareanticipatedofthesecountriestoaccessinternationalfoodmarkets.toimportawiderangeoffoodproducts,whilestaplefoodsForinstance,thestrengtheningoftheUSdollar,themainwilllargelycontinuetodominatetheimportsofLMICsandtradingcurrency,withrespecttothecurrenciesoftheseLICs.Inaddition,theshareofimportedhigher-valuefoodscountrygroupshasnegativelyimpactedtheirpurchasinginthetotalFIBdropswithlowerincomelevels.Fruitsandpower.Otherfactorsthatreducetheabilitytopayforfoodvegetables,meat,fish,coffee,tea,cocoaandspices,andimports,especiallyinlow-incomecountries,includelimitedbeveragestogetheraccountfor61percent,42percent,financialresources,mountingdebtlevels,highfreightcosts30percentand20percentofthetotalFIBsofHICs,UMICs,andinsurancepremiums,contractionsindomesticeconomicLMICsandLICs,respectively.activityandfallingforeignexchangereserves.1Thereisanegative“mixedeffect”ofUSD5.4billionintheoverallchangeintheglobalFIB.ThisexplainsthedifferencebetweentheoverallincreaseintheglobalFIBofUSD35.3billionandthesumofthepriceandquantityeffectsofUSD19.6billionplusUSD21.1billion.FOODOUTLOOK83NOVEMBER2023MarketindicatorsFigure1.Priceeffectchangesbyfoodgroup(USDbillion)Fruitsandvegetables-50510152025BeveragesUSDbillionSugar,honeyandpreparationsMiscellaneousfoodCoffee,tea,cocoa,spices,andproductsMeatandmeatpreparationsDairyproductsandeggsFish,crustaceans,andmolluscsCerealsandcerealpreparationsOilseedsandoleaginousfruitsAnimalandvegetableoils,fats-30-25-20-15-10Note:ForecastsarebasedonavailabletradedatafromJanuarytoJuly2023Source:FAOandTradeDataMonitor(TDM)andAuthors’calculationsFigure2.ChangesintheworldfoodimportbillbyfoodgroupsAnimalandvegetableoils,fatsBeveragesCerealsandcerealpreparationsCoffee,tea,cocoa,spices,andproductsDairyproductsandeggsFish,crustaceans,andmolluscsMeatandmeatpreparationsMiscellaneousfoodOilseedsandoleaginousfruitsSugar,honeyandpreparationsFruitsandvegetables-30-10103050Change2022/21Change2023/22Note:ForecastsarebasedonavailabletradedatafromJanuarytoJuly2023Source:FAOandTradeDataMonitor(TDM)andAuthors’calculations84FOODOUTLOOKNOVEMBER2023Table1.Importbillsoftotalfoodandfoodproductsbyregion(USDbillion)WorldLDCsNFIDCsSSAMarketindicators2021202220202023202020212022202320202021202220232020202120222023104.5151.8183.0159.36.08.713.220.86.39.0Animalandvegetableoils,fats114.4134.5141.6149.41.59.210.31.83.219.922.95.12.19.110.23.2Beverages208.8259.9305.9306.835.347.3113.0127.1139.1144.414.01.71.916.95.14.15.05.816.32.83.222.4Cerealsandcerealpreparations97.5109.5124.1127.01.51.55.86.91.41.7Coffee,tea,cocoa,spices,andproducts153.7178.0195.4190.81.918.219.12.05.042.850.85.52.420.822.02.4159.9178.1195.0196.51.31.65.87.23.94.6Dairyproductsandeggs103.9116.0125.3131.01.71.51.52.47.76.25.810.02.51.71.73.4Fish,crustaceans,andmolluscs103.0135.1151.9158.83.54.47.78.54.25.150.278.01.42.02.21.47.16.37.311.10.32.72.70.4Meatandmeatpreparations296.358.169.3363.24.16.211.712.93.75.6Miscellaneousfood327.7339.44.81.61.74.35.45.83.34.64.93.91505.21775.71969.92005.2107.6141.2Oilseedsandoleaginousfruits41.72.22.651.16.67.746.43.23.761.6Sugar,honeyandpreparations2020HIC20232020202351.22021202278.620204.14.4202325.29.09.841.820204.95.02023Fruitsandvegetables92.625.134.54.87.43.04.5Total70.090.8117.216.41.81.824.047.010.39.867.00.60.40.40.8104.5107.3113.0150.649.680.09.110.97.79.2Animalandvegetableoils,fats86.2119.7147.4108.716.94.96.324.08.58.710.49.90.84.95.50.8Beverages66.321.828.28.39.41.01.095.5107.088.028.05.14.541.27.512.712.69.60.73.83.80.7Cerealsandcerealpreparations116.773.385.5139.544.951.69.712.30.81.0Coffee,tea,cocoa,spices,andproducts106.8135.7145.9134.326.952.356.333.212.1132.1148.017.12.058.963.22.4118.1131.759.598.59.316.00.10.2Dairyproductsandeggs65.472.678.883.111.4UMIC16.423.1LMIC32.52.5LIC3.3Fish,crustaceans,andmolluscs31.239.348.142.953.574.12.21.927.030.936.242.320212022164.720212022233.720212022Meatandmeatpreparations217.4233.9239.6254.8353.9505.621.325.8Miscellaneousfood965.21096.41223.91240.036.038.641.348.54.55.0Oilseedsandoleaginousfruits20.621.05.96.70.80.9Sugar,honeyandpreparations71.477.259.670.69.310.7FruitsandvegetablesTotal20.020.410.810.80.80.925.826.89.410.81.01.131.838.89.69.90.80.950.151.68.810.61.01.129.431.711.612.32.32.579.286.616.316.90.20.313.416.810.812.83.03.662.266.229.331.62.32.0440.0475.6213.3241.525.928.9Note:ForecastsarebasedonavailabletradedatafromJanuarytoJuly2023Source:FAOandTradeDataMonitor(TDM)andAuthors’calculationsTable2.Decompositionofchangesinfoodproductbillsforglobalaggregates,2023over2022WorldLDCsNFIDCsSSAFoodgroupPriceVolumeMixedObservedPriceVolumeMixedObservedPriceVolumeMixedObservedPriceVolumeMixedObservedeffecteffecteffectchangeeffecteffecteffectchangeeffecteffecteffectchangeeffecteffecteffectchangeAnimalandvegetableoils,fatsBeverages<------------USDbillion------------>Cerealsandcerealpreparations-29.67.9-1.9-23.7-2.10.6-0.1-1.6-4.43.0-0.7-2.1-1.80.8-0.2-1.3Coffee,tea,cocoa,spices,andproducts11.27.7-2.0-3.2-0.30.90.1-0.20.0-0.10.4-0.30.00.10.2-0.20.00.0Dairyproductsandeggs7.85.4Fish,crustaceans,andmolluscs-0.43.3-0.42.9-0.3-1.80.0-2.2-2.7-0.8-0.1-3.6-0.81.20.00.4-1.9-4.6Meatandmeatpreparations1.8-2.2-0.21.50.1-0.10.00.10.4-0.3-0.10.00.1-0.10.00.0Miscellaneousfood9.75.8-10.33.6-0.36.90.0-0.20.0-0.2-0.2-0.20.0-0.4-0.1-0.30.0-0.3Oilseedsandoleaginousfruits9.88.7Sugar,honeyandpreparations23.6-2.4-0.423.70.0-0.10.0-0.10.0-0.30.0-0.20.1-0.30.0-0.319.635.3Fruitsandvegetables-0.2-0.10.0-0.20.0-0.3-0.3-0.20.0-0.5-0.1-0.30.0-0.3Total-3.5-0.30.3-0.30.00.00.8-0.60.00.20.4-0.30.00.1Foodgroup18.3-1.1-0.1-0.40.1-0.40.0-1.3-0.1-1.30.0-0.10.0-0.1Animalandvegetableoils,fatsBeverages-1.00.00.8-0.7-0.2-0.11.3-0.6-0.10.60.4-0.3-0.10.0Cerealsandcerealpreparations0.6-0.40.2-0.40.0-0.20.20.10.00.30.3-0.10.00.2Coffee,tea,cocoa,spices,andproducts21.1-5.4-1.0-3.9-0.3-5.2-4.3-1.4-1.1-6.8-1.20.0-0.4-1.6DairyproductsandeggsFish,crustaceans,andmolluscsHICUMICLMICLICMeatandmeatpreparationsPriceVolumeMixedObservedPriceVolumeMixedObservedPriceVolumeMixedObservedPriceVolumeMixedObservedMiscellaneousfoodeffecteffecteffectchangeeffecteffecteffectchangeeffecteffecteffectchangeeffecteffecteffectchangeOilseedsandoleaginousfruits<------------USDbillion------------>Sugar,honeyandpreparations-12.3-0.10.2-12.2-6.42.8-0.6-4.1-10.04.6-1.3-6.8-0.90.5-0.2-0.6FruitsandvegetablesTotal8.9-4.3-0.44.21.61.30.13.00.60.00.00.60.1-0.20.0-0.14.4-1.20.03.2-1.84.8-0.22.8-4.51.1-0.2-3.6-0.1-1.40.0-1.55.8-3.8-0.21.71.22.30.13.60.8-0.6-0.10.10.00.00.00.00.91.60.02.6-0.92.5-0.31.4-0.5-0.40.0-0.90.0-0.10.0-0.1-0.4-6.00.0-6.4-1.54.4-0.32.50.0-0.50.0-0.50.0-0.20.0-0.24.0-1.40.02.5-1.91.90.00.0-0.4-0.60.0-1.00.00.00.0-0.16.4-1.9-0.24.32.1-0.60.01.50.9-0.8-0.10.00.2-0.30.0-0.1-4.5-0.90.2-5.2-5.418.6-1.211.9-0.40.60.00.20.00.00.00.05.60.50.16.21.5-1.7-0.2-0.42.30.80.13.20.5-0.6-0.1-0.319.9-4.3-0.415.24.23.70.07.9-0.61.5-0.10.90.1-0.30.0-0.238.8-21.9-0.816.1-7.340.0-2.630.1-11.75.6-1.7-7.8-0.2-2.6-0.3-3.1Note:ForecastsarebasedonavailabletradedatafromJanuarytoJuly2023Source:FAOandTradeDataMonitor(TDM)andAuthors’calculationsFOODOUTLOOK85NOVEMBER2023MarketindicatorsBox1.RecentdevelopmentsindomesticfoodpricesThecalculationoftheFIBusestheweighted-averageafterreachingapeakof3.3percentinApril2022,importunitvalues(UVs)asaproxyforpricesatthefoodinflationdeceleratedthroughouttherestofbordersoftheimportingcountry.WhileUVsgenerallytheyear,exceptforSeptemberandOctober2022,capturechangesinthepricesofallfoodproductswhenchangesintheFCPIreached2.9percentandinaconcisemanner,theydonotnecessarilyreflect2.8percent,respectively.FoodinflationacceleratedchangesinconsumerpricesorrevealwhattheinJanuaryandFebruary2023,beforefallingsteadilyconsumerspayattheretaillevel.OneofthemostinthefollowingfourmonthsuptoJune2023,thenpopularmeasuresforcapturinggeneralmovementsrisingto2.1percentinJuly2023,concomitantwithindomesticpricesistheconsumerpriceindex(CPI).anuptickininternationalcrudeoilprices.Likewise,inThefoodcomponentoftheCPI(FCPI)gaugesthethesampleofHICcountries,theFCPIreachedapeakchangesinthepricesoffoodproducts.Figure1showsinApril2022beforefallinggradually,notwithstandingthemonthlypercentagechangeinthepopulation-ashort-livedsurgeinJanuary2023andarelativelyweightedaverageoftheFCPIfor32countriessmallriseinJuly2023.Overall,thedecelerationofFigure1.MonthlypercentagechangeinFCPIpercent43210-1-2Apr-07Jul-07Oct-07Jan-08Apr-08Jul-08Oct-08Jan-09Apr-09Jul-09Oct-09Jan-10Apr-10Jul-10Oct-10Jan-11Apr-11Jul-11Oct-11Jan-12Apr-12Jul-12Oct-12Jan-13Apr-13Jul-13Oct-13Jan-14Apr-14Jul-14Oct-14Jan-15Apr-15Jul-15Oct-15Jan-16Apr-16Jul-16Oct-16Jan-17Apr-17Jul-17Oct-17Jan-18Apr-18Jul-18Oct-18Jan-19Apr-19Jul-19Oct-19Jan-20Apr-20Jul-20Oct-20Jan-21Apr-21Jul-21Oct-21Jan-22Apr-22Jul-22Oct-22Jan-23Apr-23Jul-23NFIDCsHigh-incomeNote:Basedonavailabledata,theanalysiscovers32outofthe78countriesinthegroupofNFIDCs.High-incomecountriesincludeCanada,theEuroarea,JapanandtheUnitedStates.Source:FAOSTAT,IMFandEurostat,2023andAuthor’scalculationsbelongingtothegroupoftheNFIDCs,giventheirfoodinflationreflectedthedeclineininternationaldependenceonfoodimportstomeettheirfoodneedsfoodpricesasillustratedbytheFFPI,whichfellbyandtherelativelyhighshareoffoodexpenditures8percentbetweenJanuary2022andJuly2023.intheirhouseholds’budgets.DataismainlyderivedThegeneraldownwardtrendoftheinternationalfromtheFAOSTATandInternationalMonetaryFundfoodquotationswasmainlyduetoastrongsupply(IMF)databasesandcoverstheperiodfromAprilresponseinthe2022/2023season,fallingenergy2007toJuly2023(thelatestavailabledataformanypricesandtheeasingofsupplychainbottlenecks,asrepresentativecountries).Forcomparativepurposes,wellastheexpectedrestrainingimpactofmonetarythegraphalsoshowsthemonthlypercentagechangetighteningbycentralbankstoreduceinflation.Thisinthepopulation-weightedaverageoftheFCPIforatrendmaybeconfirmedoncemorerecentofficialdatasampleofHICcountries.ForthegroupoftheNFIDCs,becomesavailable.86FOODOUTLOOKNOVEMBER2023AnalysisoftherelationshipbetweentheFCPIinhigh-Inflationspilloversfromhigh-incomecountriestoMarketindicatorsincomecountriesandNFIDCsshowsthatbothindicesNFIDCscanalsooccurfollowingchangesinmonetaryarecointegrated,meaningthattheytendtomovepolicytoaddresselevateddomesticinflation.Thisistogetherinthelongrun.TheanalysisalsoindicatesmainlythecasefortheUnitedStates,wherehigherthatpastvaluesofFCPIinhigh-incomecountriesinterestratesleadtoanappreciationoftheUSdollar,thehaveastatisticallysignificanteffectonthecurrentmaintradingcurrency,withrespecttothecurrencyofvalueoftheFCPIinNFIDCs,butnotviceversa.ThistheNFIDCs,whichinturnraisestheirdomesticinflation.unidirectionaleffectresultsfromtheexposureofNFIDCsThedependenceofNFIDCsonworldfoodmarketsalsotointernationalfoodpricefluctuations,particularlypriceexplainsthegreatervolatilityofthemonthlypercentagechangesinmajorexporters,manyofthembelongingtochangeintheirFCPIcomparedtothatofthehigh-thegroupofhigh-incomecountries.incomecountries,asillustratedinFigure1.FOODOUTLOOK87NOVEMBER2023MarketindicatorsFoodpriceindicesTheFAOGlobalFoodConsumptionPriceTheFAOGlobalFoodConsumptionandIndices1FoodPriceIndices(Jan2020–Sep2023)ShirleyMustafa2014-2016=100160TheFAOGlobalFoodConsumptionPriceIndices(FGFCPIs)2trackmonthlychangesininternationalpricesofabasket146offoodcommodities.TheFGFCPIsincludethefivefoodcommoditygroupsthatareincludedintheFAOFood132PriceIndex(FFPI)aswellasoilseedsandfishamongtheircomponents.Asidefromabroadercommoditycoverage,the118FGFCPIsdifferfromtheFFPIinthattheyweightheindividualcommoditygroupsthatcomposethembytheirrespective104contributionstoaverageglobalcaloricintake(Calorie-baseFGFCPI)andtoaverageproteinintake(Protein-baseFGFCPI)90SepJanMaySepduringthe2014-2016baseperiod.TheseweightsarederivedJanMaySepJanMaySepJanMay2023fromtheFAOfoodbalancesheets(FBS)(http://www.fao.org/faostat/en/#data/FBS).202020212022FGCPI-ProteinExceptforatemporarystandstillinJune2023,theFAOFoodFGFCPI-CalorieProtein-baseFGFCPIhasdeclinedsteadilysinceAprilPriceIndex2023,withitsmovementscloselytrackingthoseoftheFFPI.Infact,thetwoindiceshaveessentiallyconvergeddepartedfromthetrajectoryfollowedbytheFFPIandtheinrecentmonthsand,inSeptember2023,theysharedaProtein-baseFGFCPIbymakinganupturn.Thistrendreversaluniformvalueofaround121points.FortheProtein-basehasbeenlargelydrivenbyrice,whichmakesthelargestsingleFGFCPI,thislevelrepresenteda5.0percentdeclinefromcontributiontoworldfoodconsumptionfromanenergyAprilandatwo-yearlow.Giventheleadingcontributionperspectiveandsawitspricessurgeby12percentbetweenthatwheatmakestoglobalproteinintake,thedeclineJuneandSeptember2023.TherecentincreaseofsugarthattheProtein-baseFGFCPIregisteredbetweenAprilquotationshasalsocontributed,especiallyinSeptemberwhenandSeptember2023wasledbywheatprices,whichtheywere9percentabovetheirlevelsinApril2023.Combinedfalteredby8.9percentoverthisperiod.Nevertheless,apartwithapartialrecoveryincoarsegrainpricesregisteredthatfromrice,sugarandpigmeat,allofthecommoditiesmonth,thisresultedintheSeptember2023valueoftheencompassedbytheProtein-baseFGFCPIhaveseentheirCalorie-baseFGFCPIreachingafive-monthhighof128.8pricesdeclineinrecentmonths,withespeciallysharppoints,whichstoodsome6to7percentabovetheSeptemberfallsregisteredbyquotationsofcoarsegrains,fishandvalueoftheFFPIandtheProtein-baseFGFCPI.dairyproducts,whichhaveslidby16,13and11percent,respectively,sinceApril.RecentdevelopmentsininternationalfoodcommoditypricesAlthoughtheCalorie-baseFGFCPIhasalsoeasedsinceApril2023,itsfallhasbeenmorecontainedthanthatoftheUpaliGalketiAratchilageFFPIandtheProtein-baseFGFCPI,ataround1.6percent.Moreover,thisdeclinelargelyreflectedweaknessexhibitedThedownwardtrendofinternationalfoodcommoditypricesbytheindexbetweenMayandJune2023becauseoffallsthatbeganinmid-2022continuedunabatedin2023,withinquotationsofwheat,coarsegrains,dairyproductsandaslowerpaceofdeclinefromJunetoOctoberthisyear,thevegetableoils.Sincethen,theCalorie-baseFGFCPIhasperiodcoveredbythisnote.Theslowerpaceofdeclinesince1Allchangesreferredtointhissection,inabsoluteorpercentageterms,are4Unlikeforothercommoditygroups,mostpricesutilizedinthecalculationoftheFAOMeatPriceIndexarenotavailablewhentheFAOFoodPriceIndexiscalculatedbasedonunroundedfigures.computedandpublished;therefore,thevalueoftheMeatPriceIndexforthe2TheFAOGlobalFoodConsumptionPriceIndicesarepublishedtwiceayearinmostrecentmonthsisderivedfromamixtureofprojectedandobservedprices.Thiscan,attimes,requiresignificantrevisionsinthefinalvalueoftheFAOFoodOutlook.MeatPriceIndexwhichcouldinturninfluencethevalueoftheFAOFoodPrice3TheFAOfoodpriceindexanditssub-indicesareupdatedonamonthlybasisIndex.andareavailableon:http://www.fao.org/worldfoodsituation88FOODOUTLOOKNOVEMBER2023Junereflecteddropsinthepriceindicesformeat,dairyandandmarketuncertaintyduetothepotentialimpactoftheElMarketindicatorscereals(otherthanrice)thatwerepartiallyoffsetbyincreasesinNiñoweathereventovermilkproductioninOceaniacappedthoseforsugarandvegetableoils.3milkpricedeclines.FromJunetoOctober,internationalmeatprices4fellMeanwhile,internationalcerealpriceshavedroppedthemost,inparticularthoseofpoultrymeat,principallymoderatelysinceJune,comparedtotheperiodfromJanuaryunderpinnedbyabundantglobalsupplies,althoughdownwardtoMay,asdeclinesinthepricesofwheatandcoarsegrainspressurewascappedbywidespreadoutbreaksofavianhavetendedtoovershadowincreasesininternationalriceinfluenzainseveralleadingproducingcountries.Worldbovinequotations.Asforwheat,thestartoftheharvestsinthemeatpricesalsofell,reflectingampleexportavailabilitiesNorthernHemispherecountriesunderpinnedthecontinuedfromSouthAmericaandOceania,withtheirentryintocattledecline,whichwascounterbalancedbymarketconcernsliquidationcycles,togetherwithaslowerpaceofimportsovertheuncertaintyovertheextentofexportsfromUkrainebyleadingimportersinAsia.WorldpigmeatpricesalsofollowingtheterminationoftheBlackSeaGrainInitiativeanddropped,principallyduetosubduedimportdemand,especiallydamagestothecountry’sportinfrastructure.WorldmaizefromsomeleadingAsianmeatimportingcountries.DespitepriceshavealsodeclinedsinceMay,althoughmoreslowly,thecontinuedimpactoftheAfricanswinefevervirusandreflectingamplesuppliesfromleadingproducingcountries,squeezedproducermargins,exportableavailabilitiesinWesternnamelyBrazilandtheUnitedStatesofAmerica,thetwolargestEuropeandtheUnitedStatesofAmericaremainedhigh,exporters,whichalsoaffectedsorghumandbarley.alsoweighingonworldpigmeatprices.OvinemeatpricesdeclinedduetoelevatedexportablesuppliesfromOceania,BycontrastanddespitesomedeclinesregisteredinnotwithstandingpersistentlyrobustimportdemandfromChinaSeptemberandOctober,internationalpricesofricewereandtheMiddleEast.higherinOctoberthantheywereinJune,primarilyreflectingconcernsovertheimpactoftheElNiñophenomenononInternationaldairypricesfellby4.7percentbetweenJuneproductionandtradedisruptionsintheaftermathofIndia’sriceandOctober,principallyunderpinnedbylacklustreglobalexportrestrictions.importdemandforspot-andnear-termdeliveries,withhighstocklevelsinleadingimportingcountries,especiallyNorthApartfromasteepincreaseinJuly,internationalvegetableandSoutheastAsiancountries.Increasedseasonalexportoilpricesregisteredmonth-on-monthdeclinessincelastJune,availabilitiesfromNewZealandinits2023/24season,limitedreflectingampleexportavailabilitiesacrossmajorvegetableinternaldemandintheEuropeanUnionandaweakerEurooils,includingpalm,soy,sunflowerandrapeseedoils,againsttheUnitedStatesdollarexerteddownwardpressureonfromtheirrespectivekeysupplyingcountries.Thisincludedworlddairyprices.However,tightsuppliesinWesternEuropeseasonallyhigherpalmoiloutputsfromleadingproducersinSoutheastAsia.Inthemeantime,globalimportdemandFAOFoodPriceIndexFAOFoodCommodityPriceIndices2014-2016=1002014-2016=1001601802022160SugarVegetable140Cerealsoils12020231402021Dairy202012010080MeatJFMAMJJASOND100ONDJFMAMJJASO20222023FOODOUTLOOK89NOVEMBER2023Marketindicatorsremainedsubdued,addingfurtherdownwardpressureoninJuneandJuly,onaccountofastrongpaceofproductioninworldvegetableoilprices.Theshort-livedpriceincreaseinBrazilandsluggishglobalimportdemand,pricesreboundedJuly,however,wasunderpinnedbyuncertaintiessurroundinginAugustandSeptember.Thepriceincreases,whichwereexportablesuppliesofsunfloweroiloutoftheBlackSearegionparticularlystronginSeptember,weremainlyunderpinnedafterthedecisionbytheRussianFederationtoterminatethebyconcernsoveralikelytighterglobalsupplyinthe2023/24BlackSeaGrainInitiative,whichcoincidedwithrobustdemandseason,largelyduetothenegativeimpactoftheElNiñoforsoyoilfromthebiodieselsector,particularlyintheUnitedweatherphenomenononsugarproductioninleadingStatesofAmerica.producingregions.However,thegoodharvestprogressandlowerethanolpricesinBrazil,aswellastheweakeningTheFAOSugarPriceIndexincreasedby4.6percentBrazilianrealagainsttheUnitedStatesdollar,ledtoaslightbetweenJuneandOctober,averaging42.4pointsdeclineinsugarpricesinOctober.(36.3percent)aboveitsJanuary2023value.Afterretreating90FOODOUTLOOKNOVEMBER2023FAOFoodPriceIndicesFoodPriceIndex1Meat2Dairy3Cereals4VegetableOils5Sugar6Marketindicators20052006October67.471.877.260.864.461.22007November72.670.573.171.270.591.42008December94.376.9122.4100.9107.362.42009January117.590.2132.3137.6141.179.22010February91.781.291.497.294.4112.22011March106.791.0111.9107.5122.0131.72012April131.9105.3129.9142.2156.5160.92013May122.8105.0111.7137.4138.3133.32014June120.1106.2140.9129.1119.5109.52015July115.0112.2130.2115.8110.6105.22016August93.096.787.195.989.983.22017September91.991.082.688.399.4111.62018October98.097.7108.091.0101.999.1201995.994.9107.3100.887.877.4202095.1100.0102.896.683.278.6202198.195.5101.8103.199.479.52022125.7107.7119.1131.2164.9109.32022143.7118.8142.4154.7187.8114.5135.4116.8139.3152.3151.3108.62023134.7114.6137.4150.1154.7114.4131.8112.4138.2147.3144.6117.2130.2111.1134.5147.5140.4116.8129.8113.3129.4146.7135.9125.2127.0114.7126.8138.6131.8127.0127.7116.8122.6136.1130.0149.4124.1118.1117.8129.3118.7157.2122.7119.0116.7126.6115.8152.2124.1118.5115.9125.9129.8146.3121.6115.2111.2125.0125.8148.2121.3113.6108.9126.3120.9162.7120.6112.9111.3125.0120.0159.21FoodPriceIndex:Consistsoftheaverageoffivecommoditygrouppriceindicesmentionedabove,weightedwiththeaverageexportsharesofeachofthegroupsfor2014-2016:intotal95pricequotationsconsideredbyFAOcommodityspecialistsasrepresentingtheinternationalpricesofthefoodcommoditiesareincludedintheoverallindex.Eachsub-indexisaweightedaverageofthepricerelativesofthecommoditiesincludedinthegroup,withthebaseperiodpriceconsistingoftheaveragesfortheyears2014-2016.2MeatPriceIndex:Basedon35averageexportunitvalues/marketpricesoffourmeattypes(bovine,pig,poultryandovine)fromtenrepresentativemarkets.Withineachmeattype,exportunitvalues/pricesareweightedbythetradesharesoftheirrespectivemarkets,whilethemeattypesareweightedbytheiraverageglobalexporttradesharesfor2014-2016.Quotationsforthetwomostrecentmonthsmayconsistofestimatesandbesubjecttorevision..3DairyPriceIndex:Computedusingeightpricequotationsoffourdairyproducts(butter,cheese,SMPandWMP)fromtworepresentativemarkets.Withineachdairyproduct,pricesareweightedbythetradesharesoftheirrespectivemarkets,whilethedairyproductsareweightedbytheiraverageexportsharesfor2014-2016.4CerealsPriceIndex:CompiledusingtheInternationalGrainsCouncil(IGC)wheatpriceindex(anaverageoftendifferentwheatpricequotations),theIGCmaizepriceindex(anaverageof4differentmaizepricequotations),theIGCbarleypriceindex(anaverageoffivedifferentbarleypricequotations),onesorghumexportquotationandtheFAOAllRicePriceIndex.TheFAOAllRicePriceIndexisbasedon21riceexportquotations,combinedintofourgroupsconsistingofIndica,Aromatic,JaponicaandGlutinousricevarieties.Withineachvarietalgroup,asimpleaverageoftherelativepricesofappropriatequotationsiscalculated;thentheaveragerelativepricesofeachofthefourricevarietiesarecombinedbyweightingthemwiththeir(fixed)tradesharesfor2014-2016.TheCerealPriceIndexcombinestherelativepricesofsorghum,theIGCwheat,maizeandbarleypriceindices(re-basedto2014-2016)andtheFAOAllRicePriceIndexbyweighingeachcommoditywithitsaverageexporttradesharefor2014-2016.5VegetableOilsPriceIndex:Consistsofanaverageoftendifferentoils,weightedwithaverageexporttradesharesofeachoilproductfor2014-2016.6SugarPriceIndex:IndexformoftheInternationalSugarAgreementpriceswith2014-2016asthebaseperiod.FOODOUTLOOK91NOVEMBER2023NEWRELEASES!TheBananaMarketReviewisissuedTheMajorTropicalFruitsMarketonanannualbasistoMembersandReviewissuedonceayear,containsObserversoftheSub-GrouponBananasinformationonglobaltradeinmangoes,oftheIntergovernmentalGrouponpineapples,avocadosandpapayas.ItsBananasandTropicalFruits,whichisasourcesincludeinformationprovidedsubsidiarybodyoftheCommitteeonbyFAOMemberNations,traders,newsCommodityProblems(CCP).bulletinsandtheopinionsofcommodityspecialistsandrepresentsthemostauthoritativeandup-to-datesourceofinformationontheworldtropicalfruiteconomy.Published:July2023Published:August2023Thereportisavailableat:Thereportisavailableat:http://www.fao.org/documents/card/en/c/https://www.fao.org/documents/card/en/c/cc6952encc7108enFoodOutlookispublishedbytheMarketsandTradeDivisionofFAOundertheGlobalInformationandEarlyWarningSystem(GIEWS).Itisabiannualpublicationfocusingondevelopmentsaffectingglobalfoodandfeedmarkets.Eachreportprovidesmarketassessmentsandshorttermforecastsonacommoditybycommoditybasisandincludesfeaturearticlesontopicalissues.FoodOutlookmaintainsaclosesynergywithanothermajorGIEWSpublication,CropProspectsandFoodSituation,especiallywithregardtothecoverageofcereals.FoodOutlookisavailableinEnglish.ThesummarysectionisalsoavailableinArabic,Chinese,French,RussianandSpanish.FoodOutlookandotherGIEWSreportsareavailableontheinternetaspartoftheFAOworldwideweb(http://www.fao.org/)atthefollowingURLaddress:http://www.fao.org/giews/.Otherrelevantstudiesonmarketsandtheglobalfoodsituationcanbefoundathttp://www.fao.org/worldfoodsituation.ThisreportisbasedoninformationavailableuptolateOctober2023.ThenextFoodOutlookreportisscheduledforpublicationinJune2024.Forenquiriesorfurtherinformationcontact:MarketsandTradeDivision–EconomicandSocialDevelopmentstreammarkets-trade@fao.orgorgiews1@fao.orgwww.fao.org/markets-tradeFoodandAgricultureOrganizationoftheUnitedNationsRome,ItalyISBN978-92-5-138359-9ISSN0251-19599789251383599CC8589EN/1/11.23