Japan logs record merchandise trade deficit in Jan as export growth slows
Growth in Japan’s merchandise exports slowed sharply in January amid weakening Chinese demand for cars and chipmaking machinery, stoking concern about a global slowdown and creating the country’s largest trade deficit on record. Trade figures issued on Thursday followed weaker-than-expected gross domestic product data, underscoring the challenge for the Bank of Japan in achieving growth led by private demand while stably sustaining inflation above 2%. […]
Food inflation: Tight grain and oilseed supplies to keep prices elevated in 2023
SINGAPORE, Dec 13 (Reuters) – Drought or too much rain, the war in Ukraine and high energy costs look set to curb global farm production again next year, tightening supplies, even as high prices encourage farmers to boost planting.
Production of staples such as rice and wheat is unlikely to replenish depleted inventories, at least in the first half of 2023, while crops producing edible oils are suffering from adverse weather in Latin America and Southeast Asia. […]