Today's Date:      Tuesday, May 1, 2012

1. GRAIN & OILSEED ISSUES

International Soybean Price Soars … May Bring Another Global-wide Food Insecurity Since 2008 [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2012043057981&sid=010502&nid=005&ltype=1

Summary: The future price of soybean reached $15.09 per bushel in CBOT market on April 27, a record high since July 2008.  The soaring price of soybean is mainly due to increased demand and lower harvest.  For example, imports of soybean by China during the first quarter this year increased 22 percent from the same period last year.  Prices of other grains, including wheat and corn, are also showing a rapid increase in CBOT market.  Analysts agree that reduced supply may cause another global-wide food insecurity problem this year.

2. LIVESTOCK ISSUES

Korean Government Inspection Team Heads for the U.S. Today … Result of the Visit Will Decide Additional Safety Measures Against American Beef [Korean, OSY]

http://news.donga.com/Society/3/03/20120430/45886174/1

Summary: A team of inspectors under the Ministry of Agriculture, Fishery, Forestry and Food is scheduled to depart for the U.S. today to obtain detailed information of the recent outbreak of mad cow case in California.  The inspectors will additionally visit the livestock farms and distribution channels to identify any loopholes in American livestock safety system.  The result of the visit, scheduled to be available on May 9, is likely to decide Korean government’s further regulatory actions on importation of American beef into Korea.

Thailand Orders Temporary Import Ban on American Beef [Korean, OSY]

http://news.donga.com/Inter/Feed_New01/3/0215/20120430/45886199/1

Summary: Following Indonesia, Thailand government has ordered a temporary import ban on American beef on April 28.  The minister of Agriculture commented that the import ban would remain in place until the government confirms safety of American beef.

“I Trust Safety of American Beef so My Family Continue to Eat American Beef”, American Ambassador Sung Kim [Korean, OSY]

http://news.donga.com/Society/3/03/20120430/45886208/1

Summary: Sung Kim, American Ambassador to Korea commented in his blog on April 26 that he and his family have a strong belief in the safety of American beef, which is under the regulation of one of the strongest food safety systems in the world.  He said “I and my family will continue to eat American beef”.

Government is Not Addressing Effectively the Public Sentiment on American Mad Cow Issue … Not Even Had One Single Livestock Quarantine Meeting Among Related Agencies to Date [Korean, OSY]

http://news.donga.com/Society/3/03/20120430/45909696/1

Summary: Korean government faces criticism that it has responded in a passive manner to the mad cow issue.  For example, there has been no government wide livestock quarantine meeting to date among related agencies.  In addition, Korean government is delaying any regulatory decision on importation of American beef until the government inspection team, currently visiting the U.S., returns on May 9.  

MAFFF Orders Special Market Monitoring for Violation of COO on Beef [Korean, OSY]

http://news.donga.com/Society/3/03/20120430/45909708/1

Summary: Korean Ministry of Agriculture, Fishery, Forestry & Food (MAFFF) announced on April 30 that it started a special market monitoring to prevent violation of country of origin labeling on beef products.  MAFFF said over 4,000 inspectors will be deployed for thorough monitoring and inspection in the market.

Taiwan Also Deploys Inspection Team to the U.S. [Korean, OSY]

http://news.donga.com/Inter/Feed_New02/3/0216/20120430/45909716/1

Summary: Taiwanese government announced on April 29 that it would follow Korea and send a team of inspectors to the U.S. to confirm safety of American beef and supply system.

3. MARKETING ISSUES

Eating Strawberry and Blueberry Can Slow Down Development of Dementia [Korean, OSY]

http://news.donga.com/Inter/New/3/02/20120430/45885564/1

Summary: A joint research by Brigumyoung hospital and Harvard Medical School revealed that eating strawberry and blueberry can slow down development of cognitive diseases, including Dementia.  The consumption amount of berries that resulted in meaningful change in the mental health was one full cup per week for strawberry and a half cup for blueberry.  The research team commented that flavonoids and other antioxidants in the fruits are helping the brain remain active.