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Korea’s total citrus production for Marketing Year (MY) 2020/21 (October – September) is projected to reach 660,000 metric tons (MT).
Domestic milk production is forecast to return to 2.03 million tons after spiking to 2.1 million tons in 2020.
Korea is in the process of drafting a proposal to revise its existing Living Modified Organism (LMO) Act to cover products of innovative biotechnologies, including genome edited products.
The United States exported $8.9 billion in agricultural and related products to South Korea in 2019, making it our fifth largest agricultural export market.
Consumption of U.S. beef continues to gradually rise as consumer confidence in its safety goes up, however it’s less competitive due to higher prices and stiff competition.
As the well being trend is set to become even more prominent in Korea – U.S. Equivalency Agreement (KORUS EA) implementation since July 2014, the prospects for imported organic food seem very bright.
Expansion and diversification of large-scale retail businesses coupled with introduction of information technologies has led a rapid evolvement of the retail food sector in South Korea...
Wheat imports remain fairly steady at 3.9 and 4 million tons for MY 2014/15 and MY2015/16 respectively.