India imposed a ban in May last year, within days of promising to supply large quantities of the grain to a host of countries reeling from sky-high prices and severe shortages of the staple.

The Dutch firm had 14% of its sales in China in 2022 and has sold more than US$8.46 billion worth of chip lithography equipment in China over the past decade.

Finance Minister Choo Kyung-ho says the reopening of South Korea's giant neighbour from long lockdowns would help improve foreign trade in the coming months.

The record exports allowed Asian and African countries to import the staple at a time when supplies of wheat and other grains were hit by drought and Russia's invasion of Ukraine.

Lower sugar output could prevent the world's second-biggest exporter from allowing additional exports, potentially supporting global prices, and allowing rivals Brazil and Thailand to increase their shipments.

Germany, like its allies, has expressed outrage over a government crackdown on protests in Iran sparked by the death in morality police custody of Mahsa Amini in September.

A survey showed that the downturn in Germany's manufacturing sector had eased somewhat in December due to improved materials availability, though weaker demand continues to affect manufacturers.

Starting in June 2023, the government will impose a ban on bauxite ore exports and boost the domestic bauxite processing and refining industries.

India accounts for more than 40% of global rice shipments and competes with Thailand, Vietnam, Pakistan and Myanmar.

Britain is seeking to negotiate trade deals around the world after it left the European Union, but new trade minister Kemi Badenoch has also indicated that she wants to remove other barriers to trade.

About 99% of Turkish exports to Malaysia will enjoy duty-free treatment, while almost 86% of Malaysia’s exports to Turkiye will enjoy a similar advantage under the Malaysia-Turkey Free Trade Agreement.

This marks the 13th successive month of double-digit growth.