Today's Date:   Tuesday January 22, 2013

1. GRAIN & OILSEED ISSUES

Drought Likely to Continue in the Major Grain Area in the U.S. … International Grain Price may Remain High This Year, The Financial Times [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013012075201

Summary: The Financial Times (FT) reported on January 18 that a severe drought was going to continue in the major grain area in the U.S. this year.  FT forecast that as a result international grain price would rebound.  According to a report by American Drought Forecast Center, 70 percent of land in the U.S. was under the drought condition, which was 16 percent point higher than the same period last year.

2. MARKETING ISSUES

Department Stores Report Poor Outcomes from New Year’s Sales Promotions in January [Korean, OSY]

http://news.donga.com/3/all/20130122/52484770/1

Summary: Cash-register sales of ‘New Year’s Sales Promotion’ that four leading department store chains carried out in January generated poor outcomes.  Sales from the events this year in all four chains declined 8 to 10 percent compared to last year’s event.  Marketers point out that part of the sales decline was due to the fact that Lunar New Year’s Day did not fall in January this year.  However, marketers also express concerns that the poor sales outcome in January could be an indication for extended slow down of consumption under the sluggish economy in the coming months.

Fish Caught in the water near Hukusima Nuclear Power Plant, Japan Showed Serious Level of Radiation Contamination [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013012075201

Summary: Tokyo Electrics Co. announced on Jaunary 20 that fish caught in the water near Hukusima nuclear power plant contained a high level of contamination by cesium that was 2,000 times higher than safety level set on food for human consumption.

3. OTHER MISCELLANEOUS ISSUES

GREEN LIGHT ON SHELLFISH EXPORT TO USA [Korean: BYY]