FAS/Seoul Monitoring of Media Reporting on Agricultural Issues 

Today's Date: Wednesday,  August 23,  2023

For Coverage:  August 21 ~ 23, 2023

 Korea’s Imports of Japanese Seafood Projected to Fall After Fukushima Release

https://pulsenews.co.kr/view.php?sc=30800018&year=2023&no=640518

Summary:  Given the planned release of wastewater from the Fukushima nuclear power plant in Japan, the Korean imports of Japanese seafood are projected to decline sharply.  In 2011 when the Fukushima nuclear accident occurred, the Korean government banned the import of seafood from eight Japanese prefectures adjacent to Fukushima.  Following the ban, in 2012, imports of seafood from Japan fell 36 percent.  Seafood imports from Japan started to show recovery in 2015 and reached 32,588 tons in 2022.  While improved, this was still only around 40% of the volume imported in 2010 before the accident.  It is expected, that due to heightened anxiety, that imports will fall with the full-scale release of the water.  Some stores and restaurants are already displaying notices saying they do not use Japanese seafood.

What Happened to a Country Where You Like Coffee? Import to Decline for the First Time in Five Years

https://n.news.naver.com/mnews/article/658/0000050074?sid=101

Summary:  Korea's coffee imports have decreased by 4% compared to the previous year.  If this trend continues, it is anticipated that annual coffee imports will decline first time over the past five years.  This decrease isn't limited to just the quantity of coffee; the import expenditure has also dropped by 9.5% compared to the previous year.  The core reason behind this occurrence is the global decrease in coffee production due to global warming.  Leading exporters like Brazil and Indonesia have experienced crop reductions due to the effects of global warming.  According to the USDA, Indonesia, the third-largest global exporter of Robusta coffee, is expected to face a 20% decrease in cultivation in 2024.  In Korea, coffee imports from Columbia, Ethiopia, and the US have shown declines of 7.9%, 17.8%, and 34.2%, respectively, this year due to these factors.

30,000 Tons of Chicken to Apply New Quota Tariff from Sept. 1

http://www.foodnews.co.kr/news/articleView.html?idxno=104039

Summary:  The South Korean government is taking proactive measures due to price instability, especially with Chuseok, the Korean Thanksgiving Day, approaching.  It's a well-known fact that during Chuseok, there's a significant surge in food demand, which subsequently drives up food costs.  To address this concern, an emergency meeting of economic ministers was convened.  The outcomes of this meeting include the implementation of a new quota tariff of 30,000 tons on chicken imports.  This decision stems from the fact that while many agricultural products have been achieving stability, chicken prices have remained volatile.  This step has been taken to ensure that Korean citizens can manage their expenses effectively when purchasing food, thereby enhancing their Chuseok experience.  The vice-minister of the Ministry of Economy and Finance emphasized that even though there's an ongoing economic recovery, the global economic landscape remains uncertain.  In light of these uncertainties, these preemptive measures have been adopted to secure the stability of citizens and promote a robust economic rebound.

Ministry of Agriculture, Food and Rural Affairs Strengthens Cooperation with Food and Restaurant Industries to Stabilize Prices

http://www.foodnews.co.kr/news/articleView.html?idxno=104043

Summary:  The Korean government is dedicated to enhancing the stability of agricultural product costs to make them more accessible.  They're taking proactive steps by collaborating with food service establishments and putting forth various proposals.  These suggestions encompass effective cost management, transparency of food cost data, and fostering collaboration between retailers and restaurants.  The most importance is the establishment of a supply process.  This entails prioritizing the food storage infrastructure.  This approach ensures that even in situations like adverse weather conditions or special occasions such as Chuseok, the traditional Korean Thanksgiving Day, there's a steady food supply for consumers.  Furthermore, the government is focusing on diversifying both food imports and the range of available food products.  This strategy is essential in lessening the financial pressure on consumers when it comes to purchasing food.  As these initiatives take shape, the Korea Consumer Agency projects that consumers will witness a positive impact on their ability to procure food products at prices that align more reasonably with their budgets.

U.S. Whey Protein Revolutionizes Food Manufacturers

http://www.foodnews.co.kr/news/articleView.html?idxno=104029

Summary:  The 8th Whey Protein Forum, organized by the US Dairy Export Council (USDEC), recently took place.  During this event, Kristi Saitama, Vice President of USDEC's Global Ingredient Marketing, talked about the realm of 'dairy protein innovation,' while Donna Berry, the Head of Dairy & Food Communications, discussed the application of US dairy protein in food production.  Their analysis of the situation in Korea centered around two key aspects.  Firstly, the heightened stress levels due to the ongoing COVID-19 pandemic have led to an increased demand for products that aid in better sleep and relaxation.  Secondly, Korea's aging population requires high-quality protein for healthy aging.  To address these concerns, they advocate for the creation and availability of a diverse range of high-quality protein-based food and beverage options for consumers.  With a growing focus on well-being and health among consumers, interest in protein has soared, leading to numerous products boasting high protein content.  What sets protein apart is its unique characteristic of being the only nutrient without any negative connotations.  Whey protein, in particular, stands out due to its nutritional superiority and appealing taste.  This aspect holds significant factor in consumer food choices, effectively fulfilling their preferences.  Furthermore, despite the increasing number of individuals adopting vegetarian diets, this group remains relatively small in comparison to the overall population.  Notably, a substantial portion of vegetarians can still consume dairy products, thus expanding the potential for whey protein's enhancement and advancement.