South Korea: Grain and Feed Update

Under the 2018 Tariff Rate Quota (TRQ), Korea purchased a total of 408,700 metric tons (MT) of rice (milled basis) from four countries, including the United States, China, Thailand and Vietnam. The U.S. share reached 38.7 percent, up 4.8 percentage points from 2017. The pace of auctions in Korea continues to be slow. Korean rice exports sharply increased in 2018 to 64,164 MT, owing to donations of 60,000 MT. Consumption is adjusted down to 4.44 million MT (MMT) in this report to reflect changes in the Korean government’s assessment of lowered values of “other and loss” and “actual consumption of feed.”

South Korea: Grain and Feed Update