February 1, 2005

South Korea soybean imports for 2003-04

South Korea's soybean imports finished the 2003-04 marketing year 10% lower at 1.37 million metric tons as narrow crushing margins stimulated imports of soybean oil.

The problem was compounded by weak demand for compound feedstuffs, says the U.S. agricultural attache for the country, because this discouraged crushers from importing beans to process. On the other hand, demand for soybeans for food processing was stable.