Market Information > 한국 농식품 시장뉴스
한국 농식품 시장뉴스
December 2009
2010.01.06
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1. Bilateral/Multilateral Issues
1. Bilateral/Multilateral Issues
http://www.koreaherald.co.kr/NEWKHSITE/data/html_dir/2009/12/02/200912020036.asp Summary:
3rd Australian trade talks come to close [English: CSY] http://joongangdaily.joins.com/article/view.asp?aid=2913522 Summary:
S. Korea, http://english.yonhapnews.co.kr/business/2009/12/07/69/ 0502000000AEN20091207001300320F.HTML Summary: Trade officials from
S. http://english.yonhapnews.co.kr/business/2009/12/07/60/ 0502000000AEN20091207002000320F.HTML Summary:
Officials will try to thaw frozen http://joongangdaily.joins.com/article/view.asp?aid=2914088 Summary: Korea and Japan will hold a working-level meeting next week to look into ways to resume stalled talks on a bilateral free trade agreement, the Trade Ministry said yesterday. Both sides launched the free trade negotiations in December 2003, but they have been blocked by
Observers say http://english.hani.co.kr/arti/english_edition/e_international/394311.html Summary: As
http://english.yonhapnews.co.kr/business/2009/12/18/42/ 0502000000AEN20091218003400320F.HTML Summary: Several agriculture-related business organizations in the
http://news.khan.co.kr/kh_news/khan_art_view.html?artid=200911280053155&code=970204 Summary) Chinese agriculture authority said, “Permit for production of GM rice has been issued after safety testing for several years.” GM rice has not been commercially available in
Korean Economy 'to Grow 4.6% in 2010' [English: CSY] http://english.chosun.com/site/data/html_dir/2009/12/07/2009120700609.html Summary: The LG Economic Research Institute expects the economy to grow by 4.6 percent next year thanks to a rebound in exports and increasing private consumption and investment. The institute projects 5.8 percent growth for the first half and 3.5 percent for the rest of 2010. The latest projection is slightly higher than its previous forecast of 4.2 percent made back in September. However, analysts at the institute warned that the economy is still fragile, stressing that the government must not prematurely withdraw stimulus measures.
Earned income drops despite GDP growth [English: BYK] http://www.koreaherald.co.kr/NEWKHSITE/data/html_dir/2009/12/07/200912070042.asp Summary: The nominal earned income of Korean households dropped for the first time in five years in the third quarter, despite positive economic growth during the period. The monthly earned income of households nationwide declined 0.3 percent to 2,276,390 won ($1,980) in the July to September period from a year ago, marking its first fall since the data was first compiled in 2004, according to Bank of Korea and Statistics Korea. Earned income refers to income derived from active participation in a trade or business, including wages, salary, tips, commissions and bonuses. Real earned income - income that has been adjusted for changes in the prices of goods and services - also fell the most in five years during the period, slumping 2.3 percent.
Retail industry to grow 5% in 2010 [English: CSY] Local department stores will see the biggest jump, due to diversification http://joongangdaily.joins.com/article/view.asp?aid=2913750 Summary: The domestic retail industry is expected to grow as much as 5 percent next year compared with 2009, as the economy is showing signs of recovery, according to an industry report yesterday. The report was released by the
Tariffs to be lowered on 46 items to aid economy [English: CSY] http://joongangdaily.joins.com/article/view.asp?aid=2914361 Summary: The Ministry of Strategy and Finance said yesterday it will lower tariffs on 46 imported items including oil, gas, sugar and corn next year to back an economic recovery trend. Sugar, on which usually a 40 percent tariff rate is imposed, will see a 35 percent tariff used instead. The tariff rate on corn used for animal feed will be cut from 3 percent to zero, the ministry said. Fifteen other imported items, however, will face higher tariffs next year, the ministry said. These items include frozen pollack, frozen saury and salted shrimp sauce.
Household spending on food increases [English: CSY] http://joongangdaily.joins.com/article/view.asp?aid=2914357 Full text: Household spending on food in
Korea to increase wheat, bean production [English: CSY] http://www.koreaherald.co.kr/NEWKHSITE/data/html_dir/2009/12/03/200912030102.asp Full text: The ministry said that there is no need to adjust self-sufficiency in potatoes, sweet potatoes, various vegetables, fruits and rice. The country is effectively self-sufficient in terms of rice production. It said policymakers are in the process of reviewing existing production targets and will set new agriculture sector self-sufficiency goals for key products in 2011.
http://www.hkn24.com/news/articleView.html?idxno=37791 Summary: Criticism is arising in the
http://www.nongmin.com/article/ar_detail.htm?ar_id=168848&subMenu=articletotal Summary:
President MB Lee tells Canadian Prime Minister that http://www.independent.co.kr/news/article.html?no=36389 Summary: In his meeting with the visiting Prime Minister of Canada, President Lee explained that
US Beef Exporters Launch Trust Campaign [English: CSY] http://www.koreatimes.co.kr/www/news/biz/2009/12/123_56970.html Summary: It's been a little over a year since
Cases of Influenza A-Infected Pigs Confirmed [English: CSY] http://www.koreatimes.co.kr/www/news/nation/2009/12/113_57293.html Summary: The government confirmed Monday that pigs had contracted with influenza A (H1N1), the first case of an infection among animals in
However, it was decided not to conduct wholesale slaughter of the swine since the disease is known to have little effect on the animals. They have decided to isolate the infected pigs for three weeks. The ministry said there is little chance of acquiring the disease by eating pork from infected pigs. There are about 9.2 million pigs on 7,700 farms nationwide.
Korean Chicken Exports to http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=001&aid=0003025150 Summary:
Pork prices stabilize after reports of flu-infected pigs [English: CSY] http://english.yonhapnews.co.kr/business/2009/12/21/34/ 0501000000AEN20091221001800315F.HTML Summary: Pork prices have rebounded after falling last week in the wake of an outbreak of type-A influenza at local pig farms, the country's agriculture ministry said Monday. The Ministry for Food, Agriculture, Forestry and Fisheries last Monday reported the first cases of new flu-infected pigs in the country. The price of pork dropped around 5 percent the following day to 3,982 won (US$3.39) per kilogram.
Still no taste in http://joongangdaily.joins.com/article/view.asp?aid=2914522 Summary: Korean imports of U.S. beef were sluggish this year, totaling less than half of Australian beef imports due to lingering safety concerns, a government report showed yesterday. According to the report released by the Korea Customs Service, U.S. beef imports stood at about 53,000 tons in the first 11 months of this year, compared with 116,500 tons of Australian beef. U.S. imports came to $245.02 million, compared with $388.03 million for Australian imports.
U.S. recognizes S. Korea as free of foot and mouth disease [English: CSY] http://english.yonhapnews.co.kr/business/2009/12/28/6/ 0502000000AEN20091228006200315F.HTML Full text: South Korea came one step closer to exporting its pork and beef to the United States as Washington has recognized it as free of foot and mouth disease (FMD) and cattle plague, the country's foreign ministry said Monday. South Korea has been unable to export pork or beef to the U.S. since March 29, 2000, when the U.S. government prohibited imports of FMD-susceptible animals and derived products from South Korea, as the country's Gyeonggi Province reported a suspected FMD outbreak. Seoul has demanded Washington recognize South Korea as a country free of FMD since May 2007.
The Animal and Plant Health Inspection Service (APHIS) under the U.S. Department of Agriculture declared South Korea free of FMD and cattle plague in a recent press release, the ministry said. In order to export pork and beef to the U.S., South Korea still has to pass an evaluation in which its system to inspect livestock sanitation must be proven equal to that of the U.S., the ministry said. "We will soon apply for the evaluation for pork and beef exports," a ministry official said.
New Influenza A infected pig was found in Jeongeup, north Jeonbuk province [Korean: CSY] http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=001&aid=0003046842 Summary: The Ministry for Food and Agriculture, Forestry and Fisheries (MIFAFF) announced that the New Influenza A (H1 N1) infected swine was found in a swine farm in Jeongeup, Jeonbuk province today. A total of 16 swine farms were confirmed with the infection of New Influenza so far.
Chairman of HomePlus Mentions Potential Acquisition of GS Mart (Korean, OSY) http://news.mk.co.kr/v2/view.php?sc=30000001&cm= 헤드라인 &year=2009&no=624347&selFlag=&relatedcode=&wonNo=&sID=501 Summary: Seung-An Lee, Chairman of Home Plus, the second largest hypermarket chain in Korea (owned by Tesco UK) mentioned in a Korea Chamber of Commerce meeting on December 3 that the company is interested in acquiring GS Mart, the 5th largest hypermarket chain with 14 stores. If the acquisition is realized, Home Plus will become the largest hypermarket store chain in Korea with 128 stores, surpassing the current market leader Shinsegae E-Mart which has 126 stores. However industry analysts raise a doubt about Home Plus’s acquisition capacity as the company is known to have 4.2 trillion won of debt.
Domestic makgeolli consumption soars 38% in ’09 [English: CSY] http://joongangdaily.joins.com/article/view.asp?aid=2913521 Summary: Makgeolli fever is sweeping the nation, and the pandemic shows no sign of ending. Sales of the traditional rice wine dominated the local alcohol market for the first 10 months of the year, state-run Statistics Korea announced yesterday. Manufacturers also increased production volume of the drink more than any other alcohol beverage - 37.8 percent to 162,598 kiloliters year-on-year from January to October. In second was spirits and hard liquor at 4 percent. Beer production grew the third-highest, by 0.2 percent.
CJ to open overseas chain for bibimbap [English: CSY] http://joongangdaily.joins.com/article/view.asp?aid=2913517 Full text: Korean food and entertainment conglomerate CJ Group said yesterday it plans to open a chain of overseas restaurants specializing in bibimbap, the dish of vegetables and meat mixed with steamed rice and chili paste. The launch of the restaurants is part of an effort to promote Korean cuisine worldwide, CJ Group said, adding it has yet to decide on a date for the opening. Named “BBGO,” the restaurants will be launched in Los Angeles, Beijing, Shanghai and Singapore, the group said. An order of bibimbap will be priced at about $10 per serving, CJ Group said.
Instant Coffee Mix Tops the Most Sold Product Category in Hypermarket Stores (Korean, OSY) http://kr.news.yahoo.com/service/news/shellview.htm?articleid= 2009120703000061210&linkid=4&newssetid=1352 Summary: According to Shinsegae E-Mart, the leading hypermarket store chain with 126 stores in Korea, instant coffee mix made the highest sales among 2874 product categories sold by the chain in 2009 through November. Rice, the former number #1 sales category in 2008, stepped down to the third seat while instant noodles remained at the second seat. Industry analysts interpreted that the rise of instant coffee mix sales reflected consumer sentiment that favored sweet taste around the economic downturn.
‘Shopping from Home’ Takes 12 Percent of the Retail Market (English: OSY) http://kr.news.yahoo.com/service/news/shellview.htm?articleid= 2009120703000061310&linkid=4&newssetid=1352 Summary: According to the Korea Chamber of Commerce, ‘shopping from home’ that includes internet shopping and TV home shopping took 12 percent of total retail market sales in Korea in the first half of 2009, one percent point higher than last year.
Koreans Drink More Coffee, Eat Less Rice [English: CSY] http://www.koreatimes.co.kr/www/news/biz/2009/12/123_56765.html Summary: Rice has long topped local food retailers' best-selling list, but not this year. The country's traditional staple lost its place for the first time in years, bumped by none other than instant coffee. The three-in-one coffee mix, a steady selling sachet of coffee powder, creamer and sugar, has shot up in popularity this year to take the No. 1 spot in sales at Shinsegae E-mart, the nation's largest hypermarket chain.
Samsung Tesco Launches a Grocery Supermarket Franchise Business to Embrace Small Scale Neighborhood Retailers (Korean, OSY) http://kr.news.yahoo.com/service/news/shellview.htm?articleid=2009121003000067910&linkid Summary: Small scale neighborhood retailers have staged protests against large scale retailers’ expansion into the neighborhood market with smaller size stores earlier this year. While the policy makers are under discussion to develop a measure to protect the small scale neighborhood retailers, Samsung Tesco, the second largest hypermarket store chain in Korea, has announced that the company has launched a franchise grocery store business which will allow existing neighborhood retailers to be a part of the Samsung Tesco by co-investing into the neighborhood grocery stores that Samsung Tesco plans to newly open.
A M&A Opportunity Agitates Convenience Store Segment (Korean, OSY) http://kr.news.yahoo.com/service/news/shellview.htm?articleid=2009121503000025610&linkid Summary: Buy The Way, the fourth largest convenience store chain in Korea with 1,400 outlets, is offered for sale by the current owner, a U.S. investment fund. So far 9 companies have expressed an intent to participate in the bid but it is expected that leading players in the segment will have bigger interest in the bid as acquisition of Buy The Way means to the leading players either narrowing the gap to the market leader (Family Mart with 4,100 outlets) or further expanding the gap from the followers.
A Napa Valley Wine Owned by a Korean Flour Mill Company Earns 100 Points from R. Parker (Korean, OSY) http://news.chosun.com/site/data/html_dir/2009/12/27/2009122700822.html Summary: Donga One, a leading flour mill company in Korea, announced on December 27 that Lotus Vineyard 2007 by Dana Estate, a Napa Valley winery that Donga One acquired in 2005, earned perfect score (100 point) by Robert Parker, the world’s most famous wine critic. This wine will not be sold in Korea due to very small production, 3,000 bottles.
Leading Hypermarkets in “Lobster War” (Korean, OSY) http://media.daum.net/economic/consumer/view.html?cateid=100020&newsid= Summary: Special sales promotion of lobster in hypermarket stores, which started in early December by Shinsegae E-Mart, is heating up as other hypermarket chains join in. Shinsegae E-Mart, who sold out 30,000 frozen lobsters imported from Canada in just one day on December 12 (priced at W14,500 per head), currently planning for another event in January 2010. Samsung Tesco, who followed E-Mart with a similar event on December 17 and sold out 50,000 frozen lobsters imported from USA in 6 days, also plans for another event in January. Lotte Mart started an event from December 25 with 25,000 live lobsters imported from Canada (priced at W13,300 per head). An industry analyst said in an interview that lobsters are likely to be a key seafood product for winter months for Korean retailers as more consumers see it as a party item.
N.Korea's Claims Food Output of 5 Million Tons [English: CSY] http://english.chosun.com/site/data/html_dir/2009/12/23/2009122300508.html Summary: North Korea in late October informed the UN its food output this year was 5.01 million tons, it emerged on Tuesday. The yield included 2.34 million tons of rice, 1.7 million tons of corn, 560,000 tons of potatoes, 240,000 tons of wheat and barley and 150,000 tons of beans. The figure represents an increase of 330,000 tons over the 4.68 million tons the North claimed last year. The original estimate was about 4 million tons. North Korea 's rice harvest increased this year thanks to little harm from floods and droughts, according to North Korea sources. Corn output was poor due to cold-weather damage in the border region with China and Kangwon Province. "Kim Jong-il appears to have carried out the shock currency reform out of confidence that the food situation next year won't be worse than expected," speculated a source.
Jinro to sell Korean rice wine to Japan next week [English: CSY] http://english.yonhapnews.co.kr/business/2009/12/01/72/ 0501000000AEN20091201004400320F.HTML Summary: Jinro Ltd., South Korea's largest traditional liquor maker, said Tuesday that it will begin exporting "makgeolli" to Japan starting next week, to meet the increasing demand there for the Korean traditional rice wine. Makgeolli, milky rice wine with an alcohol percent of 6-7 percent, has recently found a growing market in Japan on the back of a rise in interest in Korean culture. Japan's makgeolli market in 2008 expanded 16.8 percent from a year earlier with more than 50 different products, quadrupling from a year earlier, being imported to the market.
Consumers Enjoy Cheap Fresh Fruits (Korean, OSY) http://kr.news.yahoo.com/service/news/shellview.htm?articleid= 2009120206030228601&linkid=rank_news&type=day&cate=bs&rank=16 Summary: Prices of fresh fruits for this winter are likely to remain weak due to good harvest and lower import price. According to major retailers, major fresh fruits including tangerine orange, apple, banana and pineapple are sold at 20 to 30 percent cheaper price than last year. For example, local tangerine orange is sold at 10,000 won per 10 kg box, down 33 percent from last year. Imported banana is sold at 15,000 won per 13 kg box, down 25 percent. Strawberry is the only major fruit that is sold at higher price than last year due to reduced production by frost.
S. Korea ' s food prices grow faster than major global economies [English: CSY] http://english.yonhapnews.co.kr/business/2009/12/02/12/ 0501000000AEN20091202002400320F.HTML Summary: South Korea's food prices grew at a relatively faster pace than other major economies in October, a report showed Wednesday. According to the report by the Organization for Economic Cooperation and Development, South Korea's consumer prices for food jumped 4.7 percent in October from the same month a year earlier. It marked the fifth-biggest gain among the member countries of the Paris-based organization. Iceland topped the list with food prices rising 12.7 percent, followed by Mexico with 7.8 percent, New Zealand and Turkey with 5.8 percent each, the report showed. South Korea's food price growth is much higher than the OECD average of negative 1 percent.
No Significant Impact of Tar Colors on Neurosystem [Korean: CSA] http://korea.kr/newsWeb/pages/brief/partNews2/view.do?dataId= 155394335&call_from=extlink&call_from=extlink Summary) KFDA’s three-year safety evaluation project on tar colors turned out that tar colors have little impact on the neurosystem. KFDA pursued this project to minimize public concern on tar colors. Mixing Blue 1 with Red 2, Red 40, Yellow 4, and Yellow 5 respectively and testing them in various amounts; 10 times, 100 times and 1000 times higher than an actual intake amount. No significant impact was noticed up to 100 times dose while there was reduction in hippocampus when 1,000 times higher dose, which does not happen in a real life situation, was tested. KFDA said, “Safety of single colors has been continuously assessed by JECFA but we conducted this toxicological assessment with mixed colors as a precautionary safety management.” (Post Comment: KFDA did not test green 3 and red 102, which are the colors that KFDA plans to ban. We suspect that KFDA may use this assessment information to counter any criticism raised by NGOs that KFDA backed away from its initial announcement to ban all tar colors.)
Large food firms see soaring sales [English: CSY] Ranks of producers in industry’s elite ‘1 trillion won club’ swell this year http://joongangdaily.joins.com/article/view.asp?aid=2913396 Summary: The number of local food manufacturing companies with sales that exceed 1 trillion won ($866,404) is expected to jump from nine in 2008 to 12 this year. In 2004, the “1 trillion won club” in the local food industry included just five companies: CJ Cheiljedang - the nation’s leading food manufacturer - Nongshim, Daesang, Lotte Chilsung and Lotte Confectionery. Samyang joined the list in 2006; Ottogi, Dongsuh and Taihan Sugar in 2007; and Korea Yakult last year. This year, three more - Crown-Haitai Company, Namyang Dairy Products and Daesang (again) - are expected to post sales of 1 trillion or more.
Korea hopes to protect 63 farm goods [English: CSY] http://joongangdaily.joins.com/article/view.asp?aid=2913568 Summary: Korea submitted a list of “sensitive” agricultural products to the World Trade Organization in a move that could shield local farmers by slowing down the speed of market liberalization, the government said yesterday. The Ministry for Food, Agriculture, Forestry and Fisheries said the list forwarded late last week includes 63 products such as beef, onion, barley and chili peppers. To cover those products required 425 separate 10-digit product codes, called HS10 codes.
S. Korea to set up new agriculture-food quarantine inspection agency [English: CSY] http://english.yonhapnews.co.kr/business/2009/12/07/21/ 0501000000AEN20091207001700320F.HTML Summary: South Korea plans to set up a consolidated agriculture-food quarantine and inspection agency within the year to better protect public health and guard against substandard product circulation, the government said Monday. The Ministry for Food, Agriculture, Forestry and Fisheries said the new agency, if established, will be tasked with checking product safety and conducting import quarantine services on agriculture and fisheries goods. It will also check livestock brought into the country from abroad.
Excessive Lead Detected in Wheat Flour [Korean: CSA] http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=001&aid=0003016324 Summary) KFDA found the excessive lead in wheat flour sold in the market place. KFDA took 29 samples of wheat flour and tested for heavy metals in October. The result showed that four samples including one flour sample made of domestic wheat contained excessive level of lead ranged from 0.1 to 0.4 ppm. The level detected is not harmful to human but KFDA will closely monitor the lead level in wheat flour and may set the lead standards in wheat flour if necessary.
Hard economic times depressing local wine sales [English: CSY] Popularity of makgeolli competing for greater share of beverage market http://joongangdaily.joins.com/article/view.asp?aid=2913708 Summary: Wine sales in Korea that have enjoyed robust growth in past years are experiencing a sharp downturn due to the economic difficulties and the rising popularity of makgeolli, a locally made rice wine. According to data from the Korea Customs Service, Korea imported $93.4 million in foreign wines from January to October, or about 65 percent of the wine imports during the same period last year.
Competition rising in coffee market [English: CSY] http://joongangdaily.joins.com/article/view.asp?aid=2913813 Summary: The growing competition in the local coffee industry is making it more challenging for producers to meet consumer preferences, according to Darrel Kim, the director of Starbucks’ consumer packaged goods division for Korea, China and Southeast Asia. ”The coffee-drinking culture has positioned itself strongly in Korea, and local consumers’ taste buds are becoming highly sophisticated, making it more challenging to meet consumer preferences and expectations,” Kim said yesterday.
Cabinet approves bill to split Nonghyup in two [English: CSY] Controversially, the law will also let the federation sell insurance. http://joongangdaily.joins.com/article/view.asp?aid=2914034 Summary: The cabinet yesterday approved a bill to divide by 2011 the state-run National Agricultural Cooperative Federation, commonly called Nonghyup, into two companies - one for the distribution of farm products and the other for financial services - while allowing the latter unit to sell insurance. The government plans to introduce the bill at the National Assembly in February. However, it is uncertain whether it will pass, because both insurers in the private sector, which will compete with Nonghyup, and Nonghyup itself have complained about special rules governing the spinoff’s insurance sales.
Wine Importer Arrested for Forgery (Korean, OSY) http://kr.news.yahoo.com/service/news/shellview.htm?articleid= 2009121803000098910&linkid=4&newssetid=1352 Summary: A wine importer, arrested recently for forgery, allegedly distributed some 80,000 bottles of wine imported from China as American wine by attaching fake labels over the last two years. According to the policy, a 4,000 won a bottle Chinese wine became a 14,000 won a bottle American wine under the scam. Police added that most of the fake wine was sold in restaurants as house wine.
S. Korea, Russia sign pact to control illegal fishing [English: CSY] http://english.yonhapnews.co.kr/business/2009/12/21/53/ 0501000000AEN20091221008100320F.HTML Summary: South Korea and Russia signed an agreement Tuesday to control illegal fishing and related transactions starting in the New Year, the Seoul government said. The Ministry for Food, Agriculture, Forestry and Fisheries said the illegal, unreported and unregulated (IUU) fishing activities agreement calls for South Korea to provide information on Russian fishermen operating in Russia's exclusive economic zones (EEZs) without permission.
Eco-friendly’ farms more profitable in long run [English: CSY] http://joongangdaily.joins.com/article/view.asp?aid=2914365 Summary: Farmers cutting back on their use of agrochemicals risk higher initial production costs but later earn substantially more than their conventional fellows, according to a state-run think tank yesterday. The National Agricultural Products Quality Management System (NAQS) said in a report that the income of farmers that adopted environmentally sound production systems less than five years ago was 6.8 percent lower on average than operations that use regular chemicals. But farms that went eco-friendly five to 10 years ago pulled in 11 percent more than conventional farms, a gap that widened to 22.3 percent for 10 to 15 years.
S. Korea to open bidding to develop wetland into farming area [English: CSY] http://english.yonhapnews.co.kr/business/2009/12/27/ 0502000000AEN20091227001900320.HTML Summary: A South Korean state-run company said Sunday it will open bidding early this week to firms interested in developing a massive section of reclaimed wetland on the west coast of South Korea into farmland. Korea Rural Community Corp. will open bidding Monday for firms to build a dike 49.5 kilometers long in the first stage of farmland construction on the Saemangeum wetland, which covers 400 square kilometers -- about seven times the size of Manhattan.
Global Warming to Bring Down Farmland Prices [English: CSY] http://www.koreatimes.co.kr/www/news/biz/2009/12/123_57794.html Summary: Climate change is likely to cause a drop in the price of farming land here, a report from a state-run agricultural institute said Wednesday. Regions suitable for high agricultural output will be found further northward and more vermin and blight outbreaks are likely to occur due to temperature rises in the coming years, which will lead to a fall in overall production, a research team at the Korea Rural Economic Institute (KREI) said. In a joint study by the KREI and the National Academy of Agricultural Science, the institute forecast a 2-degree Celsius hike in average temperatures will reduce rice production by 4.5 percent per 1,000 square meters, and the decline will be as much as 14.9 percent if there is a 5-degree rise.
The information in this report was compiled by the Agricultural Trade Office(ATO) at the U.S. Embassy in Seoul, South Korea. U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul’s Exporter Guide, Retail Food Sector Brief, 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
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