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U.S. agricultural and related product exports to South Korea exceeded nine billion dollars in 2018, making it our fifth largest agricultural export market.
Korea’s total citrus production for Marketing Year (MY) 2019/20 (October – September) is projected to increase six percent to 645,000 metric tons (MT) from 607,638 MT in MY 2018/19.
On November 12, 2019, Statistics Korea (KOSTAT) released its revised 2019 rice production estimate of 3.744 million metric tons (MMT), down 1 percent from the initial rice production estimate....
In Marketing Year (MY) 2019/20 (July – June), Korea’s fresh apple production is projected to increase 7 percent to 508,000 metric tons (MT), mainly due to favorable weather during the flowering....
For CY 2019/2020, fresh deciduous fruit production is forecast at 550,000 MT for fresh apples and 590,000 MT for fresh pears, unchanged from revised CY 2018/19 levels.
In marketing year 2019/20, Korea’s pear production is projected to increase by 3.4 percent to 210,000 metric tons due to increased yield as a result of better weather conditions....
For Marketing Year (MY) 2019/20, FAS/Seoul has increased the projection for corn imports to 10.8 MMT.
2020 chicken meat production will rise slightly to 2.2 million metric tons with exports of 158,000 metric tons, up 2 percent to key markets of China, Chile and Russia.
2019 Argentine dairy production is projected at 10,650,000 tons, down 1.8 percent from 2018 due to abnormally warm weather during the first half of the year.
South Korea’s Hotel, Restaurant and Institutional (HRI) food service sector continues to grow as consumers spend more on dining out and look for more convenience in their busy lives.
2019/20 soybean planted area is forecast at 18 million hectares, up 0.2 million hectares as producers shift second season plantings from corn to soybeans.
In Marketing Year (MY) 2020 (January – December), Korea’s chicken production is projected to increase about 1.6 percent to 957,000 metric tons (MT) compared to MY 2019.