Author: Editorial Desk

July 2024 marked a notable shift in Mexico’s poultry trade, with imports of Brazilian chicken more than doubling from previous months. This significant rise stems from a combination of economic strategies and targeted policy changes, reshaping the dynamics between the two nations. The sharp hike in Brazilian chicken imports ties directly to Mexico’s strategic efforts to combat inflation and secure food supplies. The 2022 introduction of the Paquete Contra la Inflación y la Carestía (PACIC) by the Mexican government played a crucial role. By removing tariffs on imported meats, including chicken, PACIC made Brazilian poultry a more attractive option for…

India has overtaken China as the largest importer of Russian oil, reshaping global energy markets. In July, India imported a record 2.07 million barrels of Russian oil per day, outpacing China’s 1.76 million barrels per day—a 7.4% year-on-year decline and the lowest figure recorded this year. This shift signals a crucial moment for Russia’s economy, already heavily impacted by sanctions following its 2022 invasion of Ukraine. With much of Europe no longer a viable market, Russia has turned to the world’s most populous nations, India and China, to sustain its oil exports at significantly reduced prices. Chinese-Russian trade has surged…

Japan’s seafood industry is grappling with a sharp 16.9% drop in exports, a consequence of international backlash over the release of treated water from the Fukushima Daiichi nuclear plant. A year after the water discharge began, the impact on global trade has been profound, reshaping Japan’s maritime economy. China, a major consumer of Japanese marine products, reacted decisively, halting all imports. Hong Kong followed suit, banning imports from 10 Japanese prefectures, including Fukushima and Miyagi—regions directly associated with the nuclear plant. These restrictions sent shockwaves through Japan’s export market, which saw total seafood exports from September last year to June…

Thailand’s durian industry has strengthened its grip on the Chinese market, as second-quarter shipments of the prized fruit surged, recovering from an earlier decline this year. This uptick aligns with the seasonal harvest and reflects Thailand’s well-established reputation for quality. China Customs data reveal a substantial rise in durian imports from Thailand, reaching nearly $2.67 billion. This figure now represents 75% of China’s total fruit imports, a notable leap from the 42.5% recorded during the first quarter of 2024. Thailand’s dominance extended through 2023, capturing 68% of China’s durian market share. Vietnam, though an emerging competitor, supplied nearly the remainder…

Bangladesh is rapidly emerging as a crucial market for soybean products, fueled by the evolving dietary preferences of its burgeoning middle class. The nation’s growing preference for protein-rich foods—particularly meat, fish, and edible oils—is expected to significantly escalate demand for soybean cakes and seeds, both vital components in animal feed and oil production. David Mielke, senior analyst at Oil World, shed light on Bangladesh’s evolving role during his keynote at Soy Connext, a global summit hosted by the US Soybean Export Council (USSEC). The event, held on August 20 at San Francisco’s Marriott Hotel, brought together leaders in soybean farming,…

Chinese authorities started an anti-subsidy investigation into European dairy imports. This dairy probe escalating trade tensions with the European Union (EU) soon after the European Commission’s revised duties on Chinese electric vehicle. Context and Implications China’s Ministry of Commerce announced the investigation, responding to a complaint from the domestic dairy industry filed on July 29. The probe centers on 20 subsidy programs across eight EU member states, targeting support mechanisms such as dairy storage, young farmers’ allowances, and supplementary income. Beijing’s scrutiny focuses on potential distortions these subsidies create within its own market. Ireland emerges as a critical player, being…

Amul has ascended to the pinnacle of the global food industry, earning the title of the world’s strongest food brand in the 2024 Global Food & Drinks Report by Brand Finance. Achieving a remarkable Brand Strength Index (BSI) score of 91 out of 100, the iconic Indian dairy brand secured an elite AAA+ rating. This latest accolade also reflects an impressive 11% surge in brand value from the previous year, propelling Amul’s valuation to $3.3 billion. Key factors driving this success include heightened familiarity, stronger consumer consideration, and increased recommendation metrics. Amul extends its reach to over 50 countries globally,…

Vietnamese rice prices have surged, overtaking those of Thailand and Pakistan, as confirmed by the Vietnam Food Association (VFA). Currently, 5% broken rice from Vietnam commands $575 per tonne, surpassing Thailand’s equivalent by $14 per tonne and Pakistan’s by $34 per tonne. Similarly, 25% broken rice from Vietnam is priced at $539 per tonne, outpacing Thailand’s by $27 per tonne and Pakistan’s by $22 per tonne. This dramatic rise places Vietnamese rice at the pinnacle of global export prices, a remarkable turnaround from the previous month when it lagged behind competitors like Thailand, Pakistan, and Myanmar. The unexpected spike stems…

South Korea has initiated a clampdown on illegal copper scrap exports, focusing on traders, primarily Chinese-operated, whose actions are detrimental to the local industry. The surge in copper scrap shipments to China has left South Korean manufacturers scrambling for resources, prompting decisive government action. Busan Regional Customs announced the uncovering of illicit export practices and price manipulation by seven traders. These traders, now under prosecution, allegedly profited from the illegal export of copper scrap acquired without proper tax documentation. Lee Dong-hyun, leading the investigation coordination division at Busan Regional Customs, detailed the scheme where traders exported copper scrap disguised as…

The rise in demand for solar rooftop panels is fueled by technological advancements, government incentives, and growing environmental awareness. Modern photovoltaic panels offer higher efficiency, with innovations like bifacial panels and solar shingles enhancing solar energy capture. Improved energy storage solutions also make solar power more reliable, particularly in regions with inconsistent sunlight. Government Incentives Governments globally are promoting solar adoption through policies like tax credits, subsidies, and net metering. For instance, the U.S. Investment Tax Credit (ITC) has significantly boosted solar installations, while the European Union’s Green Deal aims for climate neutrality by 2050, with solar energy as a…