Today's Date: Tuesday, July 10, 2012

For Coverage: July 09 - 10, 2012

1. GRAIN & OILSEED ISSUES

STX Opens Its First Grain Terminal in the U.S. [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/07/10/0318000000AKR20120710060900003.HTML

Summary: STX, a major Korean sea freight company, opened its first grain shipping terminal in Longview port, WA on July 9. The terminal, built on 137 acre of land, can move 9 million tons of grain each year. STX partnered with Bungi and Itochu to establish the grain terminal business. STX reported that the terminal should help maintain more stable supply of grain from the U.S. to Korea at more competitive price.

2. MARKETING ISSUES

Malaysian Table Sugar Imported by aT Sold in Hypermarket Stores at 20% Cheaper Price than Local Products [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20120709/47646672/1

Summary: Malaysian table sugar imported by aT under the Ministry of Agriculture has started retail sales in major hypermarket stores on July 9. The price of the Malaysian sugar is about 20 percent cheaper than local products. Korean government has been seeking a way to pressure local table sugar processors, who have maintained over 97 percent market share, to lower the price. Opinions are divided if the government imported table sugar will generate the objective. Some marketers point out that the government imported sugar is offered in 25 kg bag only, and few regular consumers would want to buy such large volume product despite the lower price.

3. OTHER MISCELLANEOUS ISSUES

Rediscovery of Agricultural and Fisheries Product[Korean, SWY]

http://www.hankyung.com/news/app/newsview.php?aid=2012070925961

Summary: Export of Korean agricultural and fisheries products such as black seaweed, mackerel and paprika have increased, further enhanced by the FTA effect. Increase has been greatest in US and Japanese markets.

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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