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As of June 1, 2024, Turkiye’s Ministry of Trade has relaxed the ban on the export of bulk and barreled olive oil, allowing up to 50,000 tons of bulk and barreled olive oil to be exported until November 1, 2024. This decision, in response to negative sentiment from domestic industry, is expected to have a positive, though limited, impact on global olive oil prices.

On July 1, 2024, the United States and Republic of Korea agreed to the labeling requirements outlined in this report regarding storage state for U.S. red meat and poultry products and U.S. processed red meat, poultry, egg, and dairy products.

Weekly summary of U.S. export sales activity for key commodities.

The major export certificates required by Saudi Arabia’s regulatory and import control agencies are included in this Food and Agricultural Import Regulations and Standards (FAIRS) - Certificates Report. These certificates are required for the importation of food and agricultural products into the Kingdom. Information in this report supplements the FAIRS Annual Country Report.

Saudi Arabia has published numerous regulations and standards over the years. While many of these regulations (both mandatory and voluntary) were notified to the World Trade Organization (WTO), most were immediately implemented making it difficult for U.S. exporters to adjust or comment.

As of June 6, 2024, Turkiye has announced the suspension of wheat imports under the Inward Processing Regime from June 21-October 15, 2024. It also liberalized exports of milling wheat, durum wheat, and barley. In the same announcement, the Turkish Grain Board (TMO) announced new intervention prices for wheat and barley.

On June 27, 2024, the Egyptian Ministry of Trade and Industry signed Decree No. 361/2024. The Decree extended the shelf-life validity period for imported frozen beef liver from seven to twelve months and for frozen fish from six to ten months. The decree is valid for six months, as of July 1, 2024, and expires on December 31, 2024.

In order to support the introduction of sustainable aviation fuel (SAF), the Ministry of Economy, Trade and Industry (METI) is going to hold expert committee meetings to discuss the framework of upcoming SAF regulations.

On June 28, 2024, China notified a supplemental Entry Plant Quarantine Pests List to the World Trade Organization (WTO) under G/SPS/N/CHN/1301. China’s SPS Enquiry Point at sps@customs.gov.cn will accept comments on the draft until August 27, 2024. This report provides an unofficial translation of the Announcement and includes the additional pests list as an attachment. Stakeholders should conduct their own review of the regulation and provide comment as necessary.

In April 2024, Canada launched the Federal Plastics Registry requiring businesses to report each year, starting in 2025, on the quantity and types of plastic they place on the market and how that plastic moves through the economy. Draft regulations and measures on other plastic packaging initiatives (minimum recycled content, recyclability labeling, reduction targets, etc) are expected by the end of 2024.

Guatemala ranked as the #16 largest U.S. agricultural export market despite a nine percent decline, mainly due to lower imports of bulk commodities in 2023, reaching $1.6 million. It's crucial to remember that Guatemala, relying on foreign exchange by international trade, remittances, and tourism, is the largest economy in Central America, with an estimated gross domestic product (GDP) of $102.8 billion, a 19-million-person market, and relative economic stability.

China is a leading producer of food and agricultural products in the world and one of the top markets for U.S. agricultural exports. Despite China’s slower-than expected economic recovery in 2023, demand for U.S. agricultural and food products remain strong with imports of consumer-oriented products totaling $84 billion.