Browse Data and Analysis

Post forecasts marketing year (MY) 2024/25 production at 0.91 million 480-lb bales, basically flat compared to MY 2023/24 due to high input costs, drought conditions, power outages, and lack of access to new genetically engineered seed varieties.

On December 29, 2023, the People’s Republic of China (PRC) submitted two major reports related to climate change to the United Nations Framework Convention on Climate Change (UNFCCC): the Fourth National Communication on Climate Change (NC4) and the Third Biennial Update Report on Climate Change (BUR3).

In 2023, Mexico imported $51 billion of food ingredient products, of which 63 percent were sourced from the United States. Mexico’s food processing industry is the second largest in Latin America, behind Brazil, making Mexico a top destination for U.S. food ingredients.

On March 12, 2024, the People’s Republic of China (PRC) National Health Commission (NHC) and State Administration for Market Regulation (SAMR) jointly published an Announcement on releasing 47 new or updated National Food Safety Standards (known as Guo Jia Biao Zhun, or GB Standards) and 6 amendments sheets.

China remained the world's largest seafood producer in 2023, with official production estimated at 71 million metric tons (MMT), up 3.5 percent from 2022.

The PRC National Standard (Guo Jia Biao Zhun, or 'GB') for Natural Casings - GB/T7740-2022 was issued on October 12, 2022, and implemented on May 1, 2023.

On March 19, 2024, the People’s Republic of China (PRC) National Crop Variety Registration Committee (CNCVRC) published a second variety registration list for genetically modified (GM) corn and soybeans.

On March 13, 2024, the National Health Commission (NHC) announced approval of 23 new food materials and additives, of which three are products derived from Genetically Modified Microorganisms (GMMs).

From September 26 to 27, 2023, the People’s Republic of China (PRC) National Energy Administration (NEA) organized a meeting on pilot programs for biodiesel promotion and application in Shanghai to learn relevant experience and practices, exchange and analyze the development of the country’s biodiesel industry, and study and deploy next steps.

Soybean imports for marketing year (MY) 24/25 are forecast to reach 103 million metric tons (MMT). Increased soybean meal (SBM) inclusion rates due to competitive prices, stable demand in the poultry sector, and growing demand in aquaculture is expected to offset weaker demand in the swine sector due to forecast declining production in MY 23/24 and MY 24/25.

Lower feed prices are expected to boost producer profits in 2024, thereby increasing domestic beef and pork production. Beef imports are forecast to decrease, and pork imports are expected to remain nearly flat.

The China International Import Expo (CIIE) is a trade-focused exposition hosted by the People's Republic of China (PRC) Ministry of Commerce and the Shanghai Municipal Government. This expo aims to boost the consumption of imported products.