Today's Date: Tuesday, June 19, 2012

For Coverage: June 18 - 19, 2012

1. LIVESTOCK ISSUES

Consumption of American Beef Recovers Quickly [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20120618/47112959/1

Summary: According to leading retail stores and the Ministry of Agriculture, consumption of American beef has recovered a 65 percent level of regular year in 50 days after outbreak of a new BSE cow case. Market analysts agree that Korean consumers now have better understanding about the BSE issue after experiencing a case in the past, and as a result people are less concerned about eating American beef.

2. OTHER MISCELLANEOUS ISSUES

Imports of Table Sugar Increased 470% through May [Korean, KJH]

http://www.yonhapnews.co.kr/politics/2012/06/18/0505000000AKR20120618072300002.HTML

Summary: The Korea Agro-Fishery Marketing Corporation (aT) reported on June 18 that total imports of table sugar into Korea during the first five months this year amounted to 17,100 metric tons, up 470 percent from the same period last year. aT explained that the outstanding growth in imports was due not only to the weak international sugar price but also to aT’s direct importing of table sugar. aT imported 5,000 metric tons of table sugar so far this year. In addition to having aT join the sugar supply chain, ROK government has allowed this year imported table sugar brought into Korea under the Tariff Rated Quota (TRQ) program to be sold in retail stores. In the past the TRQ sugar was only available to local food processors. aT has replaced Korea Int’l Trade Association (KITA) as the administer of the TRQ program on sugar.

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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