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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.
Infographic illustrating the increase in farm exports in FY 2017 to $139.8 billion
This is a policy update for poultry, poultry products and eggs destined for the Republic of Korea.
Imported beer market in South Korea continued a robust growth due to strong consumer demand for products of diversified taste and higher quality.