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FAS/Seoul forecasts marketing year (MY) 2023/24 corn imports to remain flat, with U.S. market share gradually recovering towards the end of the year. Wheat imports are expected to decline towards the long term average as feed wheat loses a temporary price advantage over corn.

This report provides updates to the Korea Rice Production 2022 report issued by FAS/Seoul on June 28, 2022, based on new data released by the Korean Ministry of Agriculture, Food, and Rural Affairs (MAFRA) in December 2022.

The FAS/Seoul June 2022 Grain and Feed update covers changes to the Korean rice situation since the March 2022 Grain and Feed Annual report. MY 2022/23 rice production will likely decline slightly (1.4 percent) from the previous estimate due to government efforts to avoid overproduction, while consumption and imports are projected to remain unchanged from FAS/Seoul’s initial forecast.

FAS/Seoul projects Korea’s corn imports and consumption to increase in 2022/23 to support anticipated growth in animal inventories, following an expected decrease in corn imports in 2021/22 due to the war in Ukraine. Korean wheat consumption in 2022/23 is forecast to decline 15 percent due to reduced feed wheat supply.

This report provides updates to the Korea Rice Production 2021 report issued by FAS/Seoul on November 22, 2021, based on new data released by the Korean Ministry of Agriculture, Food, and Rural Affairs (MAFRA) in December 2021.

On November 15, 2021, Statistics Korea (KOSTAT) released a revised 2021 rice production estimate of 3.882 million metric tons (MMT), up an additional 1.6 percentage points from the initial rice production estimate in early September and up 10.7 percent from the previous year.

This report is an October 2021 update to the FAS Seoul Grain and Feed Annual released on March 31 and the Grain and Feed Update from June 27.

The FAS Seoul June 2021 Grain and Feed update covers changes to the Korean rice situation since the March 2021 Grain and Feed Annual report.

FAS/Seoul projects Korea’s corn imports and consumption to increase in 2021/22, recovering from a projected 3 percent decline in imports during the current marketing year.

This report provides updates to the Korean 2020 Rice Production report released by FAS/Seoul on November 18, 2020, based on new data...

On November 12, 2020, Statistics Korea (KOSTAT) released a revised 2020 rice production estimate of 3.507 million metric tons (MMT), down an additional 3.4 percentage points from the initial...

The MY 2020/21 wheat import forecast remains unchanged at 4 MMT. 2020/21 corn consumption projections are revised up to 12 MMT, consisting of 9.7 MMT for feed purposes and 2.3 MMT for food, seed...