USDA attache sees Japan 2023/24 corn imports at 15 million tonnes
March 21 (Reuters) -Following are selected highlights from a report issued by the U.S. Department of Agriculture's (USDA) Foreign Agricultural Service (FAS) post in Tokyo:
"FAS/Tokyo projects reduced corn imports and feed consumption in MY (marketing year) 2022/23 due to large outbreaks of Highly Pathogenic Avian Influenza as well as increased competition from domestic feed rice, followed by a recovery of corn consumption in MY2023/24. Post forecasts strong demand for feed wheat and barley in MY2022/23 and MY2023/24 and for food wheat consumption to gradually recover despite price increases. FAS/Tokyo projects flat rice consumption in MY2022/23 due to strong demand for feed rice offsetting lower table rice demand but forecasts a decrease in MY2023/24 consumption as feed rice production declines.... FAS/Tokyo forecasts MY2023/24 corn imports to increase to 15 million metric tons, up 1.4% from Post's MY2022/23 estimates, based on projected increases in feed and FSI (Food, Seeds and Industrial) demand. Post projects MY2022/23 imports to drop to 14.8 million metric tons, down 1.4 percent from the previous marketing year, based on reduced feed demand."
To read the full report, click: https://bit.ly/3JUs5VF
Reporting by Julie Ingwersen in Chicago; Editing by Lincoln Feast
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