Market Information > Food News Clipping
Food News Clipping
January 25, 2011
2011.01.25
For Coverage: January 24 - 25, 2011
Editorial: Anti-FTA Trip [English: BYK]
http://www.koreaherald.com/opinion/Detail.jsp?newsMLId
Summary:A group of opposition lawmakers left for
Shameful opposition to the FTA [English, CSY]
http://joongangdaily.joins.com/article/view.asp?aid=2931394
Summary: After much meandering, the Korea-U.S. free trade agreement is heading toward its final ratification. On Jan. 25, the U.S. House of Representatives is scheduled to hold a hearing on the agreement. Both governments have so far tried to overcome their conflicts of interest to meet the demands of the industries involved.
At this critical moment, however, opposition Democratic Party lawmakers Chun Jung-bae and Lee Jong-kul and Democratic Labor Party lawmaker Kang Ki-kap are in the
Use of Rice by Local Food Processors Shows a Significant Increase [Korean, OSY]
http://www.yonhapnews.co.kr/economy/2011/01/24/0318000000
Summary: Rice consumption by the local food processors has increased significantly in the last several months due to introductions of more products that incorporate rice. Industry contacts commented that because consumers in general perceive products with rice ingredients better in nutrition and well-being image, there will be continuous flow of new products into the market that incorporate rice.
http://www.eto.co.kr/news/view.asp?Code=201101250
Summary:
http://www.ytn.co.kr/_ln/0104_201101210333311901
Summary:
Farmers quarantining themselves for New Year [English, CSY]
http://joongangdaily.joins.com/article/view.asp?aid=2931440
Summary: Ahead of the Lunar New Year holiday, livestock farmers are voluntarily cutting themselves off from their family and friends in fear that visitors might infect their farms with foot-and-mouth disease (FMD) or avian influenza A, fencing themselves in, shutting down roads and closing local markets. Residents of
Meat prices fluctuate as FMD crisis escalates [English, CSY]
http://joongangdaily.joins.com/article/view.asp?aid=2931425
Summary: Pork and chicken prices are on the rise, while the cost of beef is falling. The price of 100 grams of pork belly last week was 1,680 won ($1.50), which represents a more than 20 percent increase from 1,380 won two months ago. This is the biggest increase since September 2010. In addition, the price of chickens and eggs have gone up because of the spread of avian influenza. Last week the wholesale price of a chicken was 2,100 won. This is 20 percent higher than the price before the outbreak. At E-Mart, the retail price for a kilogram of chicken has increased 10 percent from last week when the first avian influenza case was reported in Paju, Gyeonggi. Egg prices are also climbing ahead of the Lunar New Year holiday next week.
In contrast, the price of beef has been falling. According to the Korea Institute for Animal Products Quality Evaluation, the price for a kilogram of premium pork was 7,600 won. This is 3,000 won more than a month ago. In contrast, the wholesale price of hanwoo, or Korean beef, fell by 1,500 won to 14,400 won per kilogram during the same period. Analysts said the reason that hanwoo prices have fallen while pork prices are on the rise is that the FMD outbreak has affected pig farms more than cattle farms.
FMD vaccine development to take time [English, CSY]
http://www.koreatimes.co.kr/www/news/nation/2011/01/117_80253.html
Summary: President Lee Myung-bak called for the development of vaccines for foot-and-mouth disease (FMD) Monday as a means to fight the highly contagious animal disease. But analysts said it will take a long time before the country could actually develop a vaccine of its own, while its commercial viability remains unclear. Lee¡¯s remark came as the disease has spread to most parts of the country with over 2 million animals having been culled despite nationwide quarantine operations, causing unprecedented financial damage worth more than 2 trillion won. However, the development plan will not be an instant solution to the current epidemic as it takes more than a year to produce a reliable and accredited vaccine. Following the remark, the Ministry for Food, Agriculture, Forestry and Fisheries said it will form a taskforce to review necessary steps. The National Veterinary Research and Quarantine Service (NVRQS), a unit of the ministry, will undertake the task.
http://english.yonhapnews.co.kr/business/2011/01/25/85/0501000000AEN
Summary:
Smallest Size (15 Liter) Microwave Oven by Daewoo Sells Like Hotdogs [Korean, OSY]
http://news.donga.com/Economy/Market/3/0108/20110124/34349596/1
Summary: Daewoo Electronics reported that sales of a 15 liter size microwave oven, smallest size in the market, have reached 100,000 units only in five months since launching. The company said that the outstanding sales of the microwave oven are likely to continue in the coming months because of the strong demand by single household families. The company has recently launched a series of electronics targeting the single households, including smallest size laundry machine and refrigerator.
Korean Consumers Purchase More On-Line, Master Card Survey [Korean, OSY]
http://www.yonhapnews.co.kr/economy/2011/01/25/0301000000AKR
Summary: A survey by Master Card revealed that Korean consumers were the biggest user of on-line shopping among 15 countries surveyed. Average number of on-line purchases by Koreans in 2010 was 5.9, which was higher than Japanese (5.1) and Chinese (5.6). Koreans also marked the highest score (63 point) in on-line shopping aptitude test, followed by Japanese (57 point).
http://english.yonhapnews.co.kr/business/2011/01/25/16/0502000000
Full text:
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¡±.
Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov