We hold a modestly subdued outlook for the South Korean agricultural sector. The livestock industry has been plagued with various disease outbreaks in the past that have largely been contained. Government-led efforts will benefit the industry over the longer term and help it to remain relevant. These include: the expansion of education and financial support for farmers to allow them entry into the food processing business; plans to modernise traditional methods of food production; the creation of new agricultural food districts for exporters; and the introduction of state designation of food exporting companies.
Cheese consumption growth to 2019: 29.5% to 138, 6 00 tonnes. As Western food has become more popular in Korea, demand for cheese has expanded rapidly. The majority of cheese is consumed in restaurants and fast food outlets, and comes in the form of processed cheese. Exporters with the lowest prices, such as the US, have gained a market share in supplying the South Korean cheese industry.
Rice consumption growth to 2019: 0.4 % to 4 . 5 mn tonnes. As South Koreans substitute their carbohydrate intake with bread instead of rice, consumption of the grain is expected to post only weak growth.
Full Report Details at
Cheese imports in 2015 were estimated by the US Department of Agriculture (USDA) to have grown by over 4% y-o-y to 110,000 tonnes, reflecting a steady trend of increased demand for the fermented dairy product. Since 2010, cheese imports have grown by 72%. The USDA anticipates this number to grow to 120,000 tonnes by end of 2016
We revised our rice production forecast up to 4.32mn tonnes in 2015/16, up 2.0% as the rice crop this year is expected to be one of the strongest in the past few years.
The South Korea Agribusiness Report features BMI Research's market assessment and independent forecasts for production, consumption and trade across core agricultural commodities.
BMI's South Korea Agribusiness Report includes independent commodity price forecasting and analysis for key agricultural outputs, an overview of the agribusiness competitive landscape and a discussion of the downstream context of agricultural production in relation to country food consumption forecasts and composite food and beverage trade forecasts.
* Use BMI's independent industry forecasts to test other views - a key input for successful planning in dynamic agribusiness markets.
* Apply BMI's medium-term commodity price analysis to assist with budgetary planning and the identification of investment opportunities and potential risks.
* Assess the activities and market position of your competitors, partners and clients.
BMI Industry View
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
You may also be interested in these related reports:
- South Africa Agribusiness Report Q1 2016
- Ghana Agribusiness Report Q1 2016
- Algeria Agribusiness Report Q1 2016
- South Africa Food & Drink Report Q1 2016
- South Korea Food & Drink Report Q1 2016
"South Korea Agribusiness Report Q1 2016" Published
Contact Name: Bill Thompson
Contact Email: email@example.com
Contact Phone: 1-413-485-7001