Today's Date: Wednesday, April 04, 2012

For Coverage: April 03 - April 04, 2012

1. LIVESTOCK ISSUES

Imports Lowered to Appease Farmers, Avoid Pork Crunch: [English, MGF]

http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2950871

Summary: According to the Ministry for Food, Agriculture, Forestry and Fisheries, the Korea Swine Association nixed its plan to stop supplying pork as of yesterday after the government accommodated farmers' demands on Sunday. Seoul reduced its zero-tariff pork imports between April and June from 70,000 tons to 20,000 tons.

<4/3/2012>Imports lowered to appease farmers, avoid pork crunch [English, CSY]

http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2950871&cloc=joongangdaily|home|newslist2

Summary: Korea’s main association of pork farmers canceled its plan to stop distributing the meat yesterday as the government scaled back its plan to import tariff-free pork during the second quarter of this year by more than 70 percent. The agreement staved off an almost-certain pork crunch in the country. According to the Ministry for Food, Agriculture, Forestry and Fisheries, the Korea Swine Association nixed its plan to stop supplying pork as of yesterday after the government accommodated farmers’ demands on Sunday. Seoul reduced its zero-tariff pork imports between April and June from 70,000 tons to 20,000 tons. Moreover, the government agreed to earmark 100 billion won ($88.7 million) for buying up pork when the price of the meat falls below production costs.

<4/2/2012>Agriculture minister helps avoid pork crisis [English, CSY]

http://www.koreatimes.co.kr/www/news/biz/2012/04/123_108206.html

ROK Editorial: Appeasing The Pork Farmers: [English, MGF]

http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2950923

Summary: A pork supply crunch was avoided after the government and the Korea Pork Producers Association reached a deal. The government offered to scale back a planned duty-free import of 70,000 tons of frozen pork belly to 20,000 tons. Pig farmers called off their plan to stop supplying pork to the market for an indefinite period starting from this week. Korean consumers are happy that they will not be deprived of one of their favorite meat dishes. But the deal leaves a sour taste as it was obviously struck to appease farmers ahead of the April elections. It was a poor precedent for how to deal with such an impasse and does little to solve the supply problem and price instability in the pork trade.

2. MARKETING ISSUES

Paldo to Export White-soup Noodles to U.S. This Month [English, MGF]

http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2950870&cloc=joongangdaily%7Chome%7Cnewslist2

Summary: Paldo will officially start exporting Kokomen, its white soup-based chicken noodles that took the Korean market by storm last August, to the United States this month, the company said yesterday. It said it has already received orders for 1.2 million packets of the dehydrated noodles from retailers in the U.S., adding that the product will also be sold on eBay, the world's largest online marketplace. Paldo aims to sell cup noodle versions from May.

3. OTHER MISCELLANEOUS ISSUES

S. Korea's agriculture, food exports jump in Q1 [English, CSY]

http://english.yonhapnews.co.kr/business/2012/04/03/21/0501000000AEN20120403001700320F.HTML

Summary: South Korea's food and agriculture exports rose more than 11 percent on-year in the first quarter of 2012 on solid demand in the United States, Japan and China, the government said Tuesday. In the January-March period, South Korea shipped US$1.82 billion worth of farm products, up 11.2 percent from the same period last year, according to the Ministry for Food, Agriculture, Forestry and Fisheries. The growth was largely led by an increase in shipments of fresh produce and fishery products, which rose 27.5 percent and 13.5 percent on-year, respectively. Exports of processed food products also rose 6.7 percent from a year earlier, the ministry said.

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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