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Food News Clipping

October 12, 2011

2011.10.13

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues
Today's Date:  Wednesday, October 12, 2011
For Coverage: Octber 07 - October 12, 2011
 

 

1. GRAIN & OILSEED ISSUES

 

2011 rice production is estimated at 4.22 MMT, down 1.8 percent[Korea, CSC]

http://news.donga.com/3/all/20111010/40993457/1

2011 rice production is estimated at 4.22 MMT, down 1.8 percent from last year due mainly to acreage reduction of paddy field by 4.3 percent from last year. (Korean: CSC)

Summary: The Korean Statistical Information Service (KOSIS) released its 2011 rice production estimates at 4.22 million metric tons (MMT) based on the nationwide survey of 6,684 rice standard fields conducted from September 15-21, 2011.  The estimate is to gauge domestic rice production for 2011, which is the lowest estimate since 1980 and is down 1.8 percent from last year.  
 

Milk price hike squashed by government[English, OSY]

¡®We¡¯ve been losing 250 million won every day since [Aug. 16].¡¯

http://koreajoongangdaily.joinsmsn.com/news/article/html/656/2942656.html

Seoul Milk, the country¡¯s biggest milk producer, made an insider decision to raise its white milk price about 10 percent from Oct. 16 citing the rising cost of raw materials, but it officially called off the decision.

Sources suggested the Ministry for Food, Agriculture, Forestry and Fisheries pressed Seoul Milk to withdraw its decision because the hike in milk price would raise prices of other products that use milk, including ready-to-drink coffee, flavored milk, baked goods and baby formula.

Yesterday morning, industry sources were quoted as saying by Yonhap News Agency that Seoul Milk plans to raise their milk price by 10 percent from Oct. 16. At local discount stores, the price for a liter of milk is now 2,150 won ($1.83). If the price hike happens, milk will go up to about 2,370 won per liter
.
 

Cartons of Seoul Milk displayed at a local discount store. Seoul Milk, the nation¡¯s largest dairy manufacturer, originally planned to raise its milk price by 10 percent due to the rising cost of raw milk, but it retracted its decision yesterday afternoon after facing mounting pressure from the government, which has pledged to tackle inflation. [YONHAP]

 

2. LIVESTOCK ISSUES

 

Seoul Dairy Cooperative to Raise Retail Milk Price by 10 Percent [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/10/10/0302000000AKR20111010182600003.HTML

Summary: Seoul Dairy Cooperative, the leading supplier of fluid milk in Korea, reported to local retailers that it would increase its supply price of fluid milk by 10 percent starting from October 16.  As a result, retail price of one liter package milk in retail stores would increase to 2,450 won.  Other milk suppliers are likely to follow with a similar price raise.

 

 

The information in this report was compiled by the Agricultural Trade Office (ATO) at the U.S. Embassy in Seoul, South Korea. The press summaries contained herein do NOT reflect USDA, the U.S. Embassy, or other U.S. government agency official policy or view point. U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul¡¯s Exporter Guide and other reports available at www.fas.usda.gov by clicking on ¡°attaché reports¡±.

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Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov