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February 28, 2012

2012.02.28

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date:     Tuesday, February 28, 2012

For Coverage:    February 24 - 28, 2012
 
 
 

1. MARKETING ISSUES

 

¡°Emart will not Increase Price of 14 Key Household Food Products through This Year¡± [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/02/28/0302000000AKR20120228073300003.HTML

Summary: Emart, the leading hypermarket retail chain in Korea, announced on Feb. 28 that it would not increase price of 14 key household products, including   Emart Milk, Kellogg Corn Frost, Ottoogi Spaghetti Sauce, Gompyo Wheat Flour, by the end of this year.  Emart added that the decision was to support the household economy.

 

2. OTHER MISCELLANEOUS ISSUES

 

Government to Import Table Sugar Directly to Pressure Local Sugar Processors to Lower Price [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20120226/44343509/1

Summary: Korean Ministry of Agriculture announced on Feb. 26 that it would import 10,000 tons of table sugar in the first half this year through the Agricultural Marketing Corporation, aT.  The ministry pointed out that the import was to pressure local sugar processors to lower the retail price.  According to the ministry, local processors have not lowered the price of sugar despite the fact that international price of raw sugar dropped significantly since the 4th quarter last year.

 

aT State Trading Release[CSC, English]

Urgent Purchasing Tender Invitation to Import Sugar to stabilize domestic sugar market.

 

Commodity

Invitation No.

Quantity

Origin

Due date of

 

Destination

Destination Port

Refined White Sugar

(HSK : 1701.99.0000)

AT0904-RSI-12(023)

2,000 M/T

No

Limitation

Mar. 31, 2012

Korean

Port

 

Spaghetti Outsells Woodon and Gooksu Noodle in Retail Store [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20120226/44343527/1

Summary: According to Lotte Mart, a leading hypermarket retailer, sales of spaghetti noodle last year was larger than other local noodle products, including Woodon and Gooksu noodle, for the first time in history.  Spaghetti accounted for 22.8% of overall noodle category sales, followed by Gooksu (21.5%) and Woodong noodle (20.8%).

 

Sun-dried Red Pepper should be Washed to be Imported, Ministry of Ag. [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/02/28/0301000000AKR20120228057500002.HTML

Summary: Ministry of Agriculture, Forestry, Fishery, and Food (MAFF) announced on Feb. 28 that sun-dried red pepper would be required to be washed and vacuum packed to be able to enter the Korean market.  MAFF explained that this new requirement was to enhance safety of the imported red pepper.

   

   

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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Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov