New tariffs for South Korea's agricultural, feed products

South Korea, in December 2008, has announced changes to its tariff schedule for certain agricultural products this year, most of which are used for livestock feed production, reports the US Department of Agriculture.

The new schedule incorporates the industry demands, particularly the domestic feed sector, and appears to be in sync with its commitments to the World Trade Organization.

The new tariff rate quotas (TRQ) have been effectives since January 1, 2009 and will end through June 30 this year. In-quota tariffs, meanwhile, on soymeal, DDGS, alfalfa and other feed ingredients are expected to facilitate continued imports of US agri-products.

For more of the USDA report, please click here