South Korea: Grain and Feed Update

For Marketing Year (MY) 2019/20, FAS/Seoul has increased the projection for corn imports to 10.8 MMT. Corn imports are expected to rise following the outbreak of African Swine Fever (ASF) in September and the resulting preventative reduction in swine inventory, which is expected to somewhat increase corn demand for poultry and cattle feed. Due to lack of demand for locally produced wheat, FAS/Seoul projects that MY 2019/2020 wheat production will further drop to 13,000 metric tons (MT), while overall wheat consumption is anticipated to grow slightly to 3.85 million MT (MMT). FAS Seoul revised rice production down in MY 2019/20 to 3.78 MMT, decreasing 2.5 percent from the previous forecast of 3.88 MMT because of unfavorable weather and slightly decreased planted area.

South Korea: Grain and Feed Update