Browse Data and Analysis

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.

This report lists the main Nicaraguan food laws, technical regulations and import requirements. As of June 1, 2022, there were no major changes to Nicaragua’s import procedures since the 2021 FAIRS report.

This report lists Nicaraguan requirements for export certification and import permits for agrochemicals, veterinary products, feedstuffs, and food products for human consumption. There were no significant changes to required export certificates since the 2021 Report.

A Tableau visualization comparing exports to the current top U.S. agricultural export markets since 1989.

The Republic of Korea (ROK) has joined international commitments to reach carbon neutrality by 2050 and passed a Carbon Neutrality Act in 2021 to promote green growth. Although the agricultural industry will be relatively less impacted than some other sectors (including energy), agricultural producers will need to make some adjustments.

FAS/Managua projects marketing year 2022/23 coffee production unchanged from the previous year at 2.7 million 60-kilogram bags, as political and economic turmoil in Nicaragua are expected to continue limiting investment in the sector despite strong export prices for the marketing year 2021/22 crop.

The lobster market in Korea was hit hard by the COVID-19 pandemic in 2020. In 2021, Korean lobster imports totaled 413.6 metric tons. The United States was the second largest supplier, holding a 7.7 percent market share by volume. Canada is the largest supplier.

An increasing number of Korean customers are making values-based consumption decisions. Korean customers are willing to pay more for eco-friendly products.

Earlier investments in mechanization, irrigation, and co-generation of electricity for the national energy grid have helped insulate the sugar industry from domestic political instability, but access to and pricing of fuel and fertilizer could negatively affect sugarcane production in marketing year 2022/23.

The 2021 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world.

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

Korea’s overall demand for beef and pork in 2022 will remain steady and could improve in the second half of the year with a reopening of its restaurant sector. However, Covid-related restrictions continue to limit Korea’s Hotel, Restaurant, and Institutional businesses where meat is heavily consumed.