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- (-) April 2024
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The Korean government’s policy incentivizing farmers to replace rice acreage with other crops is the driving force behind record low rice planting and production projected in marketing year (MY) 2024/25.
This report is an update to the previous forecast. Notable changes for MY 2015/16 include an increase in Korean wheat production to 36,000 MT and increased wheat consumption to 3.85 million tons.
Despite challenging economic environment, the South Korean wine market continues to expand.