Browse Data and Analysis

On November 4, 2022, the Korea Agro-Fisheries & Food Trade Corporation (aT) announced the results of the 2022 U.S. orange tariff rate quota (TRQ) allocations. Korea switched to a new license allocation system this year, replacing the import rights auction process used in prior years. A key piece of the new allocation system is that 80 percent of the total TRQ is reserved for importers with historical import volumes, while the remaining 20 percent is reserved for new importers.

FY2022 agricultural exports reach record levels.

Korea’s 2022/23 pear production is projected to increase by 16 percent, driven mostly by increased yields due to favorable weather. Korean pear consumption is projected to rise by 14.3 percent following a 6 percent fall in market prices, with the balance of increased production going to exports. Fresh pear imports (including U.S. origin) are not allowed under Korea’s existing phytosanitary regulations.

In February 2017, Korea implemented new biotech labeling requirements for any food with detectable biotech ingredients. In May 2017, the National Seed Management Agency (NSMA) found....

Distiller’s dried grains with solubles (DDGS) are a byproduct of corn ethanol production. This derivative is primarily used in compound animal feeds as a vegetable based protein.

Citrus production in Marketing Year (MY) 2017/2018 is projected to continue a multi-year decrease to 560,000 MT, the lowest production level for the past two decades.

Several categories of U.S. food and agricultural exports to South Korea saw significant growth in fiscal year 2017 (Oct/Sept).

U.S. agricultural exports to South Korea have grown in recent years, largely due to tariff reductions and the lifting of non-tariff barriers under the U.S.-Korea Free Trade Agreement (KORUS).

On November 14, 2017, Statistics Korea (KOSTAT) released its revised 2017 rice production estimate of 3.972 million metric tons (MMT), slightly up from 3.955 MMT....

South Korea’s imports of American food and agricultural products in 2017 through September totaled $6.3 billion, up 25 percent from the same period of the previous year.

U.S. farm and food exports climbed eight percent in FY 2017, reaching the third-highest level on record.

Rice ending stocks are projected to decrease to 1.7 million metric tons (MMT) and 1.2 MMT in marketing year (MY) 2016/17 and MY 2017/18 respectively, as the Korean government has begun allowing....