South Korea: Grain and Feed Update
Link to report:
Under the 2019 rice Tariff Rate Quota (TRQ), Korea purchased a total of 408,700 metric tons (MT) of rice (milled basis) from three countries: the United States, China, and Vietnam. The U.S. share was 32.8 percent, down 5.9 percentage points from the previous year. The slow pace of sale auctions for imported table rice in Korea has continued since 2014, resulting in unsold imported rice accumulating every year. The unsold rice loses quality in storage over time and usually in Korea is then converted for alcohol processing. Korea’s rice exports were only 52,663 MT in CY 2019, which included a 50,000 MT donation under the Food Assistance Convention (FAC), and a 1,000 MT donation under the ASEAN Plus Three Emergency Rice Reserve (APTERR).