FAS/Seoul Monitoring of Media Reporting on Agricultural Issues 

Today's Date: Friday,   December 27,  2024

For Coverage:  December 21  ~  27, 2024

Hypermarkets and supermarkets focusing on groceries… soaring sales
https://www.sedaily.com/NewsView/2DI9SJHLYG
Summary:  Hypermarkets and supermarkets in Korea are seeing an increase in sales as they refurbish existing stores and strengthen their grocery sections.  According to the industry, Lotte Mart and Lotte Super saw sales increase by about 20 percent year-on-year in a month after renovating their Dogok stores into ‘Grand Grocery’ store.  The increase was largely due to the strengthening of food products by expanding the proportion of groceries to 90 percent, such as reducing the number of products that were previously sold in bulk and increasing the number of small premium food items.  Homeplus also saw fresh food sales growth by more than 20 percent year-on-year for about two weeks after renewing its Gangseo store as ‘Mega Food Market Live’ store last month, with seafood sales increasing by 51 percent.  E-mart has also opened and is operating ‘E-mart Food Market’ store in Daegu, which is a grocery store specializing in fresh and processed food.

Price of 30 extra-sized eggs near 7,000 KRW
https://www.khan.co.kr/article/202412252023035
Summary:  The price of 30 eggs is expected to rise to 7,000 won this year due to rising feed and livestock prices.  According to the Korea Institute for Animal Products Quality Evaluation, on December 25^th, the average consumer price of 30 extra-sized eggs in December was 6,983 won, up 11.4% from 6,268 won in January.  The price is likely to exceed 7,000 won with the year-end and Lunar New Year holidays ahead, when egg demand is especially high.  As prices of feed and other livestock products have risen amid an economic recession, demand for eggs has been steadily growing.  Per capita annual consumption of eggs in Korea has continued to increase, from 232 eggs in 2013 to 281 in 2021, 278 in 2022, and 282 last year.  Accordingly, the Ministry of Agriculture, Food and Rural Affairs plans to support various price discounts to prevent egg prices from rising ahead of the holiday season.

K-bakery exports… the largest amount of all time
http://www.foodnews.co.kr/news/articleView.html?idxno=111332
Summary:  Through November of this year, exports of K-bakery products, such as confectionery, bread and ingredients, increased 8.3% year-on-year to $404 million, the highest on record for the same period.  According to the Korea Customs Service, the popularity of the K-brand and the high quality of Korean products were the key factors behind the brisk export of K-bakery, which also recorded $405 million in exports in 2023.  By product, confectionery accounted for 72.5% of K-bakery exports, followed by bread (15.1%), including cakes and pies, and ingredients (12.4%), respectively.  By country, Korea exported to a total of 120 countries, with the United States accounting for the largest exports (33.5%), followed by China (11.3%) and Japan (9.5%).

Pear production drops due to the heat wave
https://www.khan.co.kr/article/202412231420011 & https://www.newsis.com/view/NISI20241223_0001734976
Summary:  According to the Ministry of Agriculture, Food and Rural Affair (MAFRA) and Statistics Korea, on December 23^rd, pear production this year was 178,000 tons, a 2.9% decrease from last year.  The heat wave that lasted until September damaged pears at the stage of storing, a ministry official added.  The retail price of 10 pears was 39,693 won, 17.5% higher than a year ago (33,777 won), according to the Korea Agro-Fisheries & Food Trade Corporation.  In addition, fall napa cabbage production was 1.16 million tons, down 78,000 tons (- 6.3%) from the previous year, and fall radish production was 384,000 tons, down 102,000 tons (- 21%) from 487,000 tons a year ago.

Farmers’ tractor protest draws attention in 28-hour standoff
https://www.koreatimes.co.kr/www/nation/2024/12/113_388901.html / http://koreabizwire.com/farmers-protest-escalates-in-seoul-as-police-block-tractor-convoy/301505 / https://news.kbs.co.kr/news/pc/view/view.do?ncd=8135865
Summary:  Over the weekend, farmers affiliated with the Korean Peasants League were engaged in a tense 28-hour standoff with police in southern Seoul after police blocked the tractors, citing traffic concerns, which led to physical confrontations and two arrests.  The farmers, driving over 30 tractors and 50 trucks, gathered to demand government intervention on agricultural bills vetoed by Acting President Han Duck-soo.  Despite freezing temperatures, additional supporters rallied to clear a path into Seoul, leading to a compromise allowing 10 tractors to reach the presidential residence.  There, farmers chanted for President Yoon’s resignation before dispersing.  The protest, part of a larger movement calling for Yoon’s impeachment, also criticized delays in delivering impeachment documents.  The event has drawn widespread online support, with many calling for justice and political change.

Korea’s Acting President Han Duck-soo vetoed agriculture-related bills
https://news.mt.co.kr/mtview.php?no=2024121921522291116 / https://www.segye.com/newsView/20241222508433
Summary:  On November 19^th, Korean Prime Minister and Acting President Han Duck-soo vetoed six bills put forward by the National Assembly.  At a Cabinet meeting presided over by Han at the Government Complex in Seoul, the four agriculture bills were tabled along with two other bills: the Grain Management Act, the Act on Distribution of Agricultural and Fishery Products and Price Stabilization, the Act on the Prevention of and Countermeasure against Agricultural and Fisheries Disasters, and the Agricultural and Fisheries Disaster Insurance Act.  In response, Han vetoed the bills, citing concerns about market price distortion, oversupply of rice, and financial burden.  In opposition to his veto, the Korea Peasants’ League mobilized 10 tractors to march near the presidential residence in Seoul on December 22^nd, calling for President Yoon’s impeachment and the speedy passage of the bills that protect farmers.

North Korea’s food production amounts to 4.78 million tons in 2024
https://www.nongmin.com/article/20241219500451
Summary:  North Korea’s food crop production this year is estimated at 4.78 million tons, a 0.8% decrease from the last year’s 4.82 million tons.  According to an estimate of North Korea’s food crop production in 2024 analyzed by the Rural Development Administration (RDA), rice production is expected to reach 2.15 million tons, up 1.9% from last year, corn at 1.61 million tons (- 5.3%), potatoes and sweet potatoes at 540,000 tons (- 6.9%), wheat and barley at 280,000 tons (+ 27.3%), and soybeans at 180,000 tons (- 5.3%).  An RDA official said that although North Korea was in good weather conditions until the first half of this year, its food crop production is estimated to be somewhat lower than last year due to heavy rains in July and high temperatures in August and September.