Analysis of corn import in South Korea (1.5)

According to the analysis of the world commodity analysis company, South Korea has imported 7.5-8.7 million tons of corn annually in recent years, becoming the second largest corn importer in the world Although Japan imports 16 million tons of corn every year, it is not a country with market share growth like South Korea South Korea is particularly price sensitive and is willing to buy cheaper Chinese corn, feed wheat, or other coarse grains to feed its livestock In 2000 / 01, the Starlink genetically modified corn storm impressed some Korean Buyers, so they need to be assured that the United States will not export corn containing Starlink to South Korea South Korea imports corn from the lowest bidder When China provides a large number of corn exports, this usually means that the U.S corn supply is replaced by cheaper Chinese corn, because China has the advantage of freight compared with the U.S Argentina exports less corn to South Korea In 1999 / 2000, South Korea imported 8.7 million tons of corn, including 5.4 million tons from China, 3.2 million tons from the United States and 100000 tons from Argentina Due to the increased demand for corn in the past year, South Korea imported about 8.7 million tons of corn The fastest-growing demand for corn comes from the meat industry, which is due to the improvement in South Korea's economic situation Feed production in the poultry industry increased by 5%, that in pigs by 7%, and that in cattle by 3% Due to the wide coverage of FMD in 1999 / 2000, the decrease of cattle feed production was related to the decrease of beef consumption In order to let readers have an understanding of the fluctuation of the corn import source of South Korea, here is a data from 1998 / 99 In this year, South Korea imported 6.4 million tons of corn from the United States, while only 800000 tons of corn from China and 200000 tons of corn from Argentina In 2000, as the Korean beef market allowed foreign countries to compete, the demand for Korean cattle farmers will be further reduced The move of market liberalization is to make the world trade organization more open in order to limit foreign competition to the lowest level in the past Almost all corn consumed in South Korea comes from imports Last year, most of South Korea's 8.7 million tons of domestic corn were used for feed (6.5 million tons), and the rest for industrial use (2.2 million tons) Although corn is the main forage in Korean compound feed production industry, if other grains are cheap, other grains will also be used Wheat accounts for 1 million to 2 million tons of the 15 million tons of grain used in the compound feed industry in South Korea every year Then came rye, with a small amount of barley and oats The agricultural counsellor of the US Department of agriculture predicted that the feed consumption of South Korea would decrease slightly in 2000 / 01, because of the slowdown of the economic growth of South Korea Production of poultry and pig feed will be slightly lower than last year's levels of 3.9 million tons and 5 million tons, respectively Cattle feed production is likely to decrease by 3 million tons to 5.1 million tons as beef imports increase, replacing local beef production in South Korea