India will ban onion exports. India's list of restricted foods is getting longer, and India** announced on December 7 that it will ban the export of onions until March 31, 2024. However, onions that were already being loaded before the notice was issued can still be exported. This is another food item that India has completely restricted from exporting, after wheat and rice. India is the world's largest producer and exporter of onions, accounting for about 20% of the world's total onion production. India announced in August a 40% export tax on onions until December 31, 2023, to curb *** and improve the domestic market**. India is facing severe food inflation. According to the data, the average retail sales of onions, tomatoes, rice and sugar in India are now 5% and 5% higher than the same period in 2022, respectively. The rise in food inflation has prompted India** to take a number of measures to prop up domestic food ** through export bans and increased imports**. India's onion export ban comes just a day after the country also restricted the use of sugarcane juice to produce biofuel. India's DG notice said India may still allow onion exports to countries seeking exemptions on food security grounds, with similar provisions for rice exports.
Prices in Japan have intensified. According to the latest data released by the Ministry of Internal Affairs and Communications of Japan, the core consumption** index in Japan after excluding fresh food was 106 in October 20234, year-on-year **29%。Japan's core consumption** index has risen above the Bank of Japan's 2% target for 19 consecutive months. In October, Japanese food **year-on-year**86%。The food situation will worsen the financial situation of some Japanese households. According to the preliminary statistics of the Ministry of Health, Labor and Welfare, after deducting the price factor, Japan's real wage income fell by 2 percent year-on-year in September4%, a year-on-year decrease for 18 consecutive months, and real household consumption fell year-on-year for the seventh consecutive month. A sustained decline in real wages will dampen household purchasing power, which in turn will affect consumption and drag down Japan's economic recovery. In order to combat high inflation and promote investment, Japan** recently passed an economic stimulus package that includes tax cuts, totaling more than 17 trillion yen.
South Korea wants to strengthen its "semiconductor alliance" with the Netherlands. South Korea's Yoon Suk-yeol has been on a four-day state visit to the Netherlands since December 11. Yoon said on Dec. 7 that he would use his trip to the Netherlands as an opportunity to focus on strengthening the semiconductor alliance between South Korea and the Netherlands. According to the schedule, on the 12th local time, Yin Xiyue will visit the headquarters of semiconductor equipment manufacturer ASML, visit the main facilities, and strengthen cooperation in the field of semiconductor chain and technological innovation. It is reported that ASML is the only manufacturer in the world that can ** EUV lithography machine required for chips of 7 nanometers and below. Some analysts believe that Yoon Suk-yeol hopes to use the opportunity of this visit to the Netherlands to gain stability** and improve the independent production capacity of South Korea's semiconductor equipment. According to the latest data released by the Ministry of Trade, Industry and Energy, South Korea's semiconductor exports reached 95 percent in November 2023200 million US dollars, a year-on-year increase of 129%。South Korea's semiconductor market is showing a recovery trend, and at the same time, South Korea is also actively increasing semiconductor-related investment and continuing to improve semiconductor manufacturing capacity.
Reporter Liu Xu.