August 14, 2012


South Korea's 2012-13 wheat imports lower than previous forecast


South Korea's final wheat imports were lower than the previous Post estimate for marketing year 2011-12, but still a record 5.2 million tonnes.


Imports of US wheat reached over two million tonnes, about half for feed. Estimated marketing year (MY) 2011-12 corn imports unchanged at 7.5 million tonnes, but imports from the US lowered from 5.5 to four million tonnes.


For MY 2012-13, wheat consumption and imports are unchanged at 4.9 and 4.6 million tonnes, respectively. Estimated corn imports unchanged at eight million tonnes. However, estimated corn imports from the US are lowered from 5.5 million tonnes to five million tonnes. Estimated milled rice production is increased from 4.2 million tonnes to 4.3 million tonnes due to higher area; estimated stocks will increase to 0.8 million tonnes.

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