| The following Global Agricultural Information Network (GAIN) reports were released on Tuesday, April 27, 2021.
Bangladesh: Cotton and Products Annual Despite the economic slowdown caused by the COVID-19 pandemic, Post Dhaka has increased its cotton import forecast for marketing year (MY) 2021/22 to 7.6 million bales as a result of higher demand for locally spun yarn. The domestic consumption of cotton in MY 2021/22 is forecasted at 7.9 million bales, which is approximately the same consumption levels as MY 2020/21, due to sustained demand for yarn, fabric, apparel, and garments as the world economies slowly recover from the pandemic. In MY 2021/22, Bangladesh's raw cotton production is forecast to slightly increase over MY 2020/21 to 149,000 bales.
EU sugar production for MY 2021/22 is forecast at 15.8 million metric tons (MT) in Raw Sugar Equivalents (RSE), a recovery of 1.1 million MT from MY 2020/21, but still 750,000 MT below the revised MY 2019/20 production. The EU sugar consumption forecast for MY 2021/22 is 16.75 million MT as consumption should recover after the COVID-19 crisis, which reduced EU sugar consumption for MY 2020/21 and MY 2019/20 to 16.6 million MT RSE. The EU sugar import forecast for MY 2021/22 is 2 million MT, similar to MY 2020/21, while the MY 2019/20 import was 2.2 million MT, including imports from the UK after Brexit. The EU sugar export forecast for MY 2021/22 remains at 1.0 million MT RSE, on par with MY 2020/21 exports and almost 0.5 million MT below MY 2019/20. Despite the EU-UK free-trade agreement, sugar trade between the EU and the UK will be limited by the rules of origin. EU sugar ending stocks for MY 2021/22 are forecast at 1.16 million MT, slightly up from MY 2020/21, but just above half of MY 2019/20 stocks.
Germany: German Cabinet Agrees on Draft Laws to Implement the New EU Agricultural Policy On April 13, 2021, the German Cabinet agreed on four draft laws to transpose the European Union (EU)'s new common agricultural policy (CAP) into national law. Member States are required to notify their national implementation plan to the Commission before the end of 2021. To meet this deadline, the German legislative process must be concluded before the summer recess as Germany holds Federal elections in September. The German draft laws represent a clear shift to a "greener" agricultural policy. For example, they include a reduction of the basic area payments; a gradually increasing reallocation of funds from pillar 1 to pillar 2; a ring-fencing of 25 percent of the remaining area payments for "eco-schemes;" and a three percent set-aside for biodiversity. This report summarizes the major provisions of the proposed laws.
Iceland: Government Provides Support to Farmers to Combat Coronavirus and Increase Competitiveness In March 2021, Iceland's Minister of Fisheries and Agriculture announced his intention to allocate ISK 970 million ($7.5 million) in financial support for Icelandic sheep and cattle farmers. Coronavirus-related social and travel restrictions have hit Iceland's sheep and cattle farmers hard, leading to declines in both demand and prices for their products. The measure is part of a 12-point action plan to help Icelandic farmers address the impact the coronavirus pandemic has had on Icelandic agriculture.
Pakistan's MY 2021/22 sugar production is forecast at 6.8 million metric tons (MMT), up 14 percent from the current year's revised estimate, due to significant increases in area and sugarcane yields. Sugar consumption for the same year is forecast at 5.9 MMT, three percent higher than last year's estimates and exports are forecast at 800,000 tons. MY 2020/21imports are estimated at 350,000 tons mainly to control rising prices and build up supplies. To facilitate the availability of sugar to end users the government has eliminated all duties on sugar imports. Sugar prices increased 21 percent since last year due to tight supplies in the market. Instability in sugar availability for end users and sugar prices is expected to continue mainly due to government pricing and management policies influencing the decisions of sugar producers to distribute product. Ending stocks are projected at 2.4 MMT.
This report provides trade data on Vietnam's monthly rice exports by grade and destination and weekly export quotes for rice by grade.
For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/.
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