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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.
South Korea's rebounding consumer demand for beef and pork, together with elevated retail prices, led to greater domestic slaughter and import totals in 2022 and into 2023.
On November 19, 2015, Korea lifted the import ban on poultry and poultry meat products that had been imposed in December 2014 due to the outbreak of HPAI.
Korean coffee imports data showed 27 percent increase in value of $527 million and 17 percent increase in volume of 134,000 Metric Tons in 2014 compared to the year 2013.
News and consumer trends in South Korea’s food market.
Section Updated: Section I, II, IV, V, VI, VII, and Appendix I, II. The updates include the new Special Act on Imported Food Safety Management, which shall go into effect on February 4, 2016.