Japan – food tax reduction

The government in Japan has announced that it plans to cut tax on grocery food from 8% to 1% for two years from April 2027.

Kenya – harvest forecast slashed

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The USDA has reduced its forecast for maize production in Kenya by 51% to 2.2m tonnes following a prolonged dry period in grain growing areas.

New Zealand – Fonterra earnings

New Zealand dairy co-op Fonterra has announced that it expects its full-year underlying earnings to be at the top end of its previously announced range of 60c to 70c cents (€0.30 to €0.35) per share.

Uruguay – excluded from US beef quota

Uruguay is excluded from access to the new 300,000 tonne US beef quota because it has its own dedicated quota of 20,000 tonnes.