Weekly Product Updates


Global Food Waste and Upcycling Report

Food loss and waste span the entire food supply chain, from production to consumption. The magnitude of food loss and waste is staggering. Annually, an estimated 1.6 billion tons of food, valued at approximately USD 1.2 trillion, are either lost or wasted globally, representing one-third of the total food produced on a global scale, according to the Boston Consulting Group (BCG). This issue is not stagnant; rather, it's expanding. Forecasts by BCG suggest that by 2030, the annual amount of food loss and waste will increase to 2.1 billion tons, with an estimated value of USD 1.5 trillion.
Mzingaye Ndubiwa · Nov 15, 2023

Egyptian Orange Exports Boosts European Market Share

Egypt solidifies its dominance in global orange exports, particularly to the EU, with a 40.3% YoY increase in market share in the 2022/23 season. Spanish citrus production challenges and a drastic reduction in Moroccan exports propel Egypt's high-quality citrus to the forefront, resulting in a staggering 279% growth in export volume to Europe over the last decade. As Egypt maintains its position as a leading exporter, the global orange trade landscape undergoes significant shifts, emphasizing the nation's pivotal role in meeting rising demand and shaping market dynamics.
Juan Carlos · Nov 21, 2023

EU Sesame Seed Market: Demand and Quality Issues

The EU's sesame seed market has undergone significant shifts driven by health concerns and the rise in sesame-related allergies. The EU witnessed a drastic drop in imports from India due to pesticide contamination issues, prompting an influx of sesame seed shipments from alternate origins like Pakistan, Nigeria, and Türkiye. With ongoing efforts to diversify sourcing strategies, and stringent import regulations, there are signs of a recovery in sesame seed demand within the EU market based on 2023 import figures. However, a complete resurgence to previous consumption levels might take time, as consumers evolve preferences and prioritize safety and quality in food products. This emphasizes the necessity for stakeholders to maintain agility, adaptability, and a focus on consumer health concerns while upholding stringent food safety standards throughout the supply chain.
Putri Aisyah · Nov 17, 2023

Table Grape Export Season Estimates: Peru and Chile

In the upcoming 2023/24 season, Peru foresees a 9% reduction in table grape exports, attributing the decline to climate challenges. In contrast, Chile is optimistic, projecting a 5.2% increase, highlighting the success of its varietal transition. The US, a pivotal market for both nations, becomes a focal point as the reduced grape production in Peru and the US unveils strategic opportunities for Chile to reclaim market share. Navigating through climate-induced uncertainties and regulatory complexities, adaptability, and collaborative efforts emerge as essential elements in steering the course amid the dynamic shifts in the global grape market landscape.
Juan Carlos · Nov 24, 2023

Australian Barley MY 2023/24: Adjustment in Production and China Tariff Removal

The production estimates of Australian barley in Sep-23 were adjusted upward to 10.5 mmt from the July forecast of 9.9 mmt. Despite these revisions, the overall forecasted production for MY 2023/24 still reflects a 26% YoY decrease compared to the previous year due to lower yield. For international trade dynamics, China removed an 80.5% tariff for Australian barley in Aug-23, signaling the end of barley export restrictions and initiating a positive shift in trade relations between the two countries after a three-year hiatus. From Aug-23 to Sept-23, Australia exported 428,542 mt of barley to China, a significant resurgence compared to no exports in 2021 and 2022. The exportable balance, particularly to China, remains crucial. This suggests a potential revival of Australian barley exports to China, supported by favorable market conditions, possible demand surges, and improved trade relations, fostering optimism in the Australian barley industry for MY 2023/24.
Putri Aisyah · Nov 30, 2023

W47 Rice Update: Global Rice Production Adjusted Downward, Vietnam's Exports Surge, and Paraguay Faces Crop Risks

In W47 in the rice landscape, the USDA forecasts a global rice production of 517.80 mmt in 2023/24, a slight decrease from the October estimate. As of Oct-23, Vietnam's rice exports reached USD 3.97 billion, an increase of 34.9% YoY. The 2023 rice export target in Thailand is revised to 8.5 mmt due to rising prices. Meanwhile, in Paraguay, 80,000 ha of rice fields are at risk from flooding. Lastly, India is expected to maintain rice export restriction in 2024.
Nur Hameed · Nov 30, 2023

Wheat Prices in Argentina Increase 19.35% in W46 Amidst Reduced Output in the 2023/24 Season

Wheat prices in Argentina witnessed a substantial 19.35 WoW increase in W47, reaching USD 0.37/kg compared to USD 0.32/kg in 2022. This increase is attributed to a reduction in the expected wheat output for the 2023/24 season due to reduced planted area.
Nur Hameed · Dec 1, 2023

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