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On November 12, 2019, Statistics Korea (KOSTAT) released its revised 2019 rice production estimate of 3.744 million metric tons (MMT), down 1 percent from the initial rice production estimate....

For Marketing Year (MY) 2019/20, FAS/Seoul has increased the projection for corn imports to 10.8 MMT.

The United States continues to be a top supplier of forage to South Korea.

The 2019/20 Marketing Year rice production forecast is unchanged from the previous report at 3.88 million metric tons (MMT), as price supports offset the government’s attempts to reduce rice paddy....

Korea relies heavily on imports to fulfill its food and agricultural needs. Korea maintains a strong food processing industry that manufactures a wide variety of food and beverage products.

Although Korea’s production of barley increased 38 percent in 2018, production and consumption of barley are expected to remain fairly constant over the next few years.

MY 2019/2020 wheat production will remain negligible at 25,000 metric tons (MT), while wheat consumption is anticipated to grow slightly to 3.85 million MT (MMT). MY 2019/2020 corn consumption....

The Agriculture, Food, Rural Affairs, Oceans & Fisheries Committee of the National Assembly has recommended the government raise the target price for local rice (2019 crop).

Under the 2018 Tariff Rate Quota (TRQ), Korea purchased a total of 408,700 metric tons (MT) of rice (milled basis) from four countries, including the United States, China, Thailand and Vietnam.

On December 24, 2018, Korea issued an updated list of adjustment tariffs and voluntary tariff rate quotas (TRQs) for certain agricultural, forestry and fishery products....

On November 13, 2018, Statistics Korea (KOSTAT) released its revised 2018 rice production estimate of 3.868 million metric tons (MMT), slightly down from 3.875 MMT, the initial rice production....

Korea relies heavily on imports to fulfill its food and agricultural needs. Korea maintains a strong food processing industry that manufactures a wide variety of food and beverage products.