Today's Date:  Monday, June 18, 2012

1. GRAIN & OILSEED ISSUES

aT to collaborate with global grain major [Korean, SHK]

http://news.donga.com/Economy/3/01/20120604/46758999/1

Summary: aT concluded a strategic business partnership contract with ‘NIDERA’ and ‘Zuellig Group,’ which are both international grain businesses. This will let diversified imports happen and allow grains from international market flow into domestic grain market. Furthermore, this contract is expected to lower the price of grains by bringing competition to grain supply.

2. LIVESTOCK ISSUES

People look for duck instead of chicken for cheap price. [KSH: Korean]

http://news.kukinews.com/article/view.asp?page=1&gCode=kmi&arcid=0006161877&cp=nv

Summary: Duck and chicken are two popular food in the summer. This year, supply of duck increased 52.8% and caused the price to fall 23%. On the other hand, the price of chicken has rised. As a result, sales of duck increased 35.6% while sales of chicken decreased 14.5%.

3. MARKETING ISSUES

Rice Wine Sales Down 4.5% through April Compared to Last Year … First Decline in 46 Months [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20120617/47083105/1

Summary: According to the Korea Statistics Office, sales of rice wine by producers amounted to 36,457 kiloliters so far this year through April, down 4.5 percent from the same period last year.  This was the first minus growth recorded by the industry in 46 months.  There is a growing concern in the rice wine industry that the market might have failed to meet the changing consumer tastes over the last couple years.  In particular, many market analysts  agree that the industry should pay additional efforts to offer higher quality products.

On-line Consumers Spend 67,000 Won Per Purchase [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20120617/47083520/1

Summary: On-line shopping consumers in Korea spent 67,000 won per purchase on average, according to a recent survey by Korea Chamber of Commerce (500 people surveyed).  Each person replied that he/she visited on-line shopping sites 8.89 times a month.   People replied that 10 visits to the shopping sites resulted in 2.73 purchases.  Average number of visits to the sites were 6.91 by males and 10.75 by female.  However, actual ratio of purchase per visit was higher among the male (27.6%) than the female (27.0%).  Products most often purchased on-line were clothings/shoes (69.2%), followed by kitchen & home (23.8%), fashion accessories & jewelery (20.0%), books & CDs (17.2%), and cosmetics (15.2%).

Large-scale Hypermarkets Report 5.7% Sales Decline in May [Korean, OSY]

http://media.paran.com/hotissue/view.kth?dirnews=1869854&year=2012&titlekey=PARAN_2012_1868684&clusterid=IiQmMjszUV5DVytCTVpbW0pdK0NG&selectdkey=PARAN_2012_1869854

Summary: Ministry of Knowledge & Economy reported that sales of large-scale hypermarket stores declined 5.7 percent in May compared to last year.  The sales decline was larger than April (2.4 percent).  Sales decline by product category were -11.3 percent for electronics, -6.5% for food & agriculture, and -6.3% for clothing.  The Ministry commented that mandatory store closing on two Sundays required to large-scale retail stores since May 1^st was a part reason for the sales decline.

4. MIFAFF PRESS RELEASES

► MIFAFF holds Talk Concert ‘Going back to Farm’ in Daejun

► MIFAFF publishes a book ‘Traditional Fairy Tale’ to publicize rural areas

► Minister of MIFAFF visits flower export industries and livestock farms

► MIFAFF prohibits operation of highliner close to sea shore

► MIFAFF plans to provide financial assistance to build reservoirs in drought areas

► Five artificial fishing banks are selected as test banks to create fishery resources

► MIFAFF will put an effort to increase GAP cultivation area by 10% until 2015

► MIFAFF provides water pumps to extreme drought areas

► Minister So Gu Young held an opening ceremony of the first City and Rural exhibition in Seoul Plaza

5. aT PUBLIC NOTICE OF STATE TRADING

►Notice of selling auction for imported sugar in order for price stabilization

►Notice of selling quota auction for fresh onion ‘12

►Notice of recruiting an inspection service enterprise of imported agricultural products 2012

►Re-notification of bidding on fresh ginger by foreign currency

►Recruiting businesses to supply sesame to industries in need

►Notice of agriculture quota tariff imposed on sugar