The Tridge 2025 Market Opportunities Report aims to provide valuable insights for 2025 agri-food trade strategies by analyzing key events in the agri-food industry throughout 2024. This report highlights the most impactful events in the industry during the year, organized around three core keywords: climate change, policies, and food trends. For each keyword, the report selects two representative events and presents content in the following structure: ① Analysis of individual events, ② Macro-level impact assessment, ③ Insights and future market opportunities. Notably, the ③ insights and future market opportunities section includes actionable ideas on alternative markets and substitutes for related products, providing practical value to readers. The influence of the events covered in this report is not limited to 2024. For instance, the European Union's EUDR (Regulation on Deforestation Prevention) and climate change-induced agri-food supply issues are expected to have long-term impacts, reshaping the industry's landscape. Events with such long-term effects require approaches beyond short-term measures like exploring alternative markets, emphasizing the need for long-term strategies such as developing substitutes. This report provides actionable market insights for both short- and long-term perspectives. The 2025 Market Opportunities Report focuses on three core keywords in the agri-food market—climate change, policies, and food trends—each represented by two key events. A total of six events have been selected, comprising four impactful incidents in the 2024 agri-food industry—issues in orange production, cocoa production, the tariff war between Europe and China, and the EUDR (Regulation on Deforestation Prevention)—along with two processed food trends: frozen kimbap and Latin American food trends. These topics were chosen based on the following criteria: ① High trade volume, ② Long-term market impact, ③ Global influence beyond specific countries. The selection process incorporated insights from various agri-food stakeholders. Notably, the EUDR and climate change-related supply chain issues are expected to have significant, lasting impacts on the agri-food industry. Additionally, the analysis of food trends emphasizing health and convenience is anticipated to provide valuable insights for food industry stakeholders moving forward.

- Key Indicators: Global freight prices averaged USD 3,548.52 per 40-foot container in Nov-24, a 1.02% month-on-month (MoM) increase. The rise is attributed to frontloading in anticipation of a potential International Longshoremen’s Association (ILA) port strike in Jan-25 and expected tariff increases stemming from the recent United States (US) election outcomes. Meanwhile, the World Bank's fertilizer index dropped to an average of 119.72 points in Nov-24, a 3.05% MoM decline. This drop was primarily driven by falling urea prices, which offset moderate increases in potassium chloride and diammonium phosphate (DAP) prices. The Food and Agriculture Organization (FAO) Cereal Price Index averaged 111.4 points, a 2.62% MoM drop driven by a decline in global wheat prices, which was influenced by increased supplies from ongoing harvests and improved crop conditions for the 2025 season. - Wheat: Australian wheat prices are anticipated to increase in the coming months, driven by rising import demand from Southeast Asia and the nearing completion of the harvest. Meanwhile, Russian wheat export prices are also expected to rise, influenced by logistical challenges and a cautious production outlook for 2025. US wheat export prices will likely remain subdued in Dec-24, as the stronger dollar dampens competitiveness, despite improving crop conditions and heightened export activity. - Maize: US corn export prices are expected to continue rising in the coming months, fueled by strong exports, competitive global pricing, and increasing global demand. In Brazil, the stronger dollar and improved logistics are likely to boost corn shipments, keeping prices elevated. Meanwhile, Argentina's corn export prices are projected to increase further, driven by ongoing production challenges and global demand dynamics. - Rice: India's rice export prices are expected to remain stable in the coming months, supported by strong stockpiles and favorable export prospects. In contrast, as competition intensifies, particularly with India lifting its rice export restrictions, Thailand’s and Vietnam's rice prices are anticipated to remain low.

- Key Indicators: Global freight prices averaged USD 3,548.52 per 40-foot container in Nov-24, a 1.02% month-on-month (MoM) increase. The rise is attributed to frontloading in anticipation of a potential International Longshoremen’s Association (ILA) port strike in Jan-25 and expected tariff increases stemming from the recent United States (US) election outcomes. Meanwhile, the World Bank's fertilizer index dropped to an average of 119.72 points in Nov-24, a 3.05% MoM decline. This drop was primarily driven by falling urea prices, which offset moderate increases in potassium chloride and diammonium phosphate (DAP) prices. The Food and Agriculture Organization (FAO) Vegetable Oil Price Index averaged 164.1 points, marking a 7.47% MoM increase driven by higher prices for palm, rapeseed, soy, and sunflower oils. - Soybean Oil: US soybean oil prices are expected to stabilize due to increased crushing activity. In Argentina, price stability is also expected due to improved supply conditions. - Palm Oil: Heightened demand is set to keep palm oil prices firm in Malaysia. - Sunflower Oil: Ukraine expects a decline in sunflower oil prices in Dec-24 due to ongoing volatility in the sunflower oil export market. An increase in export duties is expected to curb price growth, while reduced production is set to maintain elevated prices throughout Dec-24.