USDA International Egg and Poultry

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04 October 2012

USDA International Egg and Poultry - 2 October 2012

Korea’s Broiler Situation (1,000 Metric Tons and Kilograms (KG))
	2011		2012		2013
	Official	New	Official	New	Official	New
Production	686	685	706	726	-	740
Imports	131	131	115	115	-	110
Exports	15	15	15	18	-	16
Consumption	802	795	805	818	-	840
Note: Official=USDA Official. New=New Post. Data is a combination of estimates and official data from USDA FAS. Source: USDA FAS PSD Online

Republic of Korea

Broiler meat production is unofficially expected to be 740,000 metric tons (MT) in 2013, +2% from 2012 (726,000 MT) due to large carryover supplies and high international grain prices. Unofficially, consumption is forecast at 840,000 MT in 2013, +3% from 2012 (818,000 MT), due to ample supplies, its competitive pricing to red meat products, and more regular consumption throughout the year versus its traditional peak season (July-August). Consumption jumped the last 4-5 years as a result of the growing number of fast food chain stores. Imports are unofficially projected to hit 110,000 MT in 2013, -4% from 2012(115,000 MT). The decline is attributed to reductions in production and higher prices in the US and Brazil.

Per Capita Meat Consumption (Boneless Basis) in the Republic of Korea (KG)

Note: 2012* is a preliminary forecast by Korea’s Rural Economic Institute.

Imports in 2011 hit a record high of 130,950 MT, +24% from 2010 (105,803 MT), due to an outbreak of FMD (Foot and Mouth Disease) in December 2010, consumer fears of radioactive seafood resulting from the 2011 tsunami off Japan’s coast, and the zero duty under ROKG’s 2011 policy on consumer price stabilization measurement. Import tariffs on frozen chicken leg quarters (20%) will be phased out by 2021, frozen breasts and wings (20%) in 2023, and frozen turkey cuts (18%) in 2018 due to the US-Korea Free Trade Agreement (FTA) entering into force March 15, 2012. Exports are unofficially forecast at 16,000 MT in 2013, slightly lower than 2012 (18,000 MT).