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On December 10, 2021, Korea released its 2022 Market Access Quota (MAQ) updates, which cover a variety of agricultural commodities ranging from mung bean, red bean, soybeans to various feed ingredients. These MAQs are used to minimize local price fluctuations resulting from domestic supply shortages.
On November 12, 2020, Statistics Korea (KOSTAT) released a revised 2020 rice production estimate of 3.507 million metric tons (MMT), down an additional 3.4 percentage points from the initial...
In marketing year (MY) 2020/21 (July-June), FAS Seoul projects Korea’s pear production to decrease by 20 percent (to 160,000 MT) mainly due to reduced planted area and unfavorable weather conditions..
The MY 2020/21 wheat import forecast remains unchanged at 4 MMT. 2020/21 corn consumption projections are revised up to 12 MMT, consisting of 9.7 MMT for feed purposes and 2.3 MMT for food, seed...