Browse Data and Analysis

The Korean government revised its marketing year (MY) 2024/25 rice production estimate down to reflect a 2-percent yield reduction from extreme heat, untimely rains, and pest damage.

Despite Russia's full-scale invasion of Ukraine, Ukraine's retail, food processing, and food service sectors are functioning. The retail sector is working to maintain an assortment of imported products. Fish and other seafood, beef, nuts, food ingredients, whiskey, beer, snacks, and pet food imports are growing.

Matching import restrictions imposed by several EU member states on Ukrainian grains, oilseeds, and poultry, Ukraine adopted export licensing and export quotas for 2025. Ukraine’s measures are designed to prevent the triggering of EU safeguard measures envisaged by EU Regulation 2024/1392.

Chocolate is a popular product in the Korean market, with 2023 sales reaching $578 million and imports of chocolate totaling $356 million.

Korean imports of cheese products continue to grow, seeing a five percent compound annual growth rate over the last five years. Mozzarella is the most imported cheese product and the United States is the leading supplier of cheese to Korea.

Korea’s beer imports reached $218 million in 2023, up 11.8 percent from $195 million in 2022, but still 30 percent down from the record high of $310 million in 2018. Although Korea’s beer imports have been decreasing since the pandemic, the United States increased exports of beer to Korea in 2023, reaching $17.9 million, up 43% from $12.5 million in 2022.