South Korea: Grain and Feed Annual
MY 2019/2020 wheat production will remain negligible at 25,000 metric tons (MT), while wheat consumption is anticipated to grow slightly to 3.85 million MT (MMT). MY 2019/2020 corn consumption, almost all of which is imported, is expected to rise about 2 percent to 10.6 MMT due to projected increases in swine and poultry inventories. Despite a government rice reduction program, rice production is forecast to stay around 3.88 MMT in MY 2019/2020, while rice consumption is forecast to decrease to 4.5 MMT. Korea will continue to donate rice and use some as feed in an attempt to draw down rice stocks.
