Today's Date:   Thursday January 17, 2013

1. LIVESTOCK ISSUES

Internet shopping malls providing incorrect beef grades [Korean: BYY]

http://www.joongboo.com/news/articleView.html?idxno=831835

Summary: It turned out that internet shopping malls run by the Suwon branch of the Korea Federation of Livestock Cooperatives, National Agricultural Cooperative Federation, and other big markets (E-mart, Lotte mart) haven’t been marking the beef grade properly, which is a violation of the relevant laws.  As a result, consumers are being misinformed that the beef grade is grade #1, when it is actually Grade #3.

Poor inspection of imported livestock products continues. [Korean: BYY]

http://www.mt.co.kr/view/mtview.php?type=1&no=2013011514064767829&outlink=1

Summary :  Compared to 2011,  the rate of imported livestock products that failed to pass inspection in 2012 rose from 0.92% to 1.05%.  However,  Korea`s inspection rate of imported livestock products in 2013 still remains at less than 10%, which means that more than 90% of the products are coming in without inspection.

Korea-Canada FTA should be concluded within six months, or it will never be done [Korean: BYY]

http://news.mk.co.kr/newsRead.php?year=2013&no=32780

Summary : “Within less than 6 months, the Korea-Canada FTA should be concluded or it will never be done” said David Chatterson, the Canadian Ambassador in Seoul.  He commented that “Once FTA agreement is done, Korean consumers will be able to spend less money for better quality food.”

He also expressed expectations saying, “Canada is trying to spread energy markets more than the United States or European countries.  Likewise, since Korea has a very similar interest in trying to diversify the energy demand/supply structure, we hope FTA will be signed soon this year”

2. MARKETING ISSUES

Frost in the Western United States Suggests Possible Price Hikes of Agricultural Products in the Coming Months [Korean, OSY]

http://news.donga.com/3/all/20130116/52374555/1

Summary: Severe frost damage has been reported in western United States, including California this week.  There is a worry arising in the industry that frost damage would increase the price of agricultural products later this year.

Sales of Whiskey Fell 11.6% in 2012 [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013011684821

3. OTHER MISCELLANEOUS ISSUES

MIFAFF briefs transition team…will try to minimize the damages coming from FTA [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=100&oid=001&aid=0006042223

Summary: MIFAFF provided briefing about the work that it was doing to the transition committee on January 16^th.  It explained that the Ministry was doing its best to minimize the damage coming from FTA to the agriculture and livestock sector.  It also reported that it would increase the direct payment for stabilizing the farm income, stabilization of agricultural input prices, introduction of system for insuring farmers against disasters, improvement of the marketing structure of agricultural products.

4. MIFAFF PRESS RELEASES

►    MIFAFF to release 211,000 MT of rice to stabilize the rice market prior to Lunar New Year

►    MIFAFF to have government veterinarians inspect chicken and duck slaughter plants.  Up to now, government veterinarians only inspected the cattle and swine operations and had the poultry slaughter operations be inspected by company hired veterinarians.  However, such measure has been an obstacle in exports of Samgyetang to foreign countries.