October 24, 2006

US doubles corn sales to South Korea

Figures from the US grains council showed that US corn sales to South Korea more than doubled from the marketing year 2004/05, which was just 2 million tonnes to 5.4 million tonnes for fiscal 2006. 

Of the 8.8 million tonnes of corn bought by South Korea during fiscal 2006, 61 percent came from US corn.

Of the 8.8 million tonnes, 6.8 million tonnes (77 percent) went to feed and 2 million tonnes (23 percent) were for food and industrial use.

Other markets supplying South Korea include China, which accounted for 19 percent of the market and Brazil, 9 percent, according to the US Grains Council.