Browse Data and Analysis

Breaking with historical practice, Korean soybean crushers began operating below full capacity in mid-2023 and are forecast to further reduce crush volume into marketing year (MY) 2024/25. Soybean imports are forecast to recover slightly from MY 2023/24, but will still remain below average levels on sluggish crushing demand.

This report analyzes all vegetable oil markets in Korea, whether for food or industrial use, and covers oils derived from soybean, palm, palm kernel, olive, rapeseed/canola, grapeseed, sunflower seed, corn, coconut, sesame, perilla seed (a leafy plant from the mint family), and rice bran.

Korean imports of seafood in 2018 totaled $5.79 billion, up 16.2 percent from 2017 due to rising prices and increased imports of shrimp and squid.

Elevated food safety concerns coupled with evolved taste of the South Korean consumers generate increased demand for imported organic foods.

Strong consumer demand for value, quality, convenience, and diversity generates increased demand for imported agricultural products in the Korean retail industry.

On April 30, 2019, U.S. Embassy Seoul’s Office of Agricultural Affairs, the U.S. Grains Council (USGC) Korea office, and the Korea Biofuels Forum (KBF) jointly hosted the 2019 Seoul Fuel Ethanol....

The 2019/20 Marketing Year rice production forecast is unchanged from the previous report at 3.88 million metric tons (MMT), as price supports offset the government’s attempts to reduce rice paddy....