Poultry and Products Annual Seoul Korea Republic of 8 31 2017
THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY
USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT
POLICY
Required Report - public distribution
Date: 8/31/2017
GAIN Report Number: KS1725
Korea - Republic of
Poultry and Products Annual
Annual
Approved By:
Sunyoung Choi / Amanda F. Hinkle
Prepared By:
Amanda F. Hinkle
Report Highlights:
After a difficult year in 2017 caused by a long-lasting Highly Pathogenic Avian Influenza (HPAI) outbreak in
Korea, Post projects that production will rebound in marketing year (MY) 2018 to 905,000 metric tons (MT)
from 850,000 MT in MY 2017. Post also anticipates that consumption will increase in MY 2018 to 1.01 million
MT, as consumer confidence rebounds following the cleanup of HPAI, and demand is increased due to a series
of international sporting events. Finally, imports are forecasted to increase to 135,000 MT to meet the
increased demand from these sporting events. Both U.S. and Brazilian imports are expected to increase, as the
United States recovers from the effect of its own 2017 HPAI outbreak and Brazil recovers from the impact of an
April 2017 tainted poultry meat scandal.
Commodities:
Poultry, Meat, Broiler
Production:
In Marketing Year (MY) 2018 (January – De e e , Ko ea’s hi ke p oduction is projected to increase 6.5
percent to 905,000 metric tons (MT) from 850,000 MT in MY 2017, mainly for three reasons: 1) to meet
potential extra chicken demand during several international sporting events throughout MY 2018 (the Winter
Olympic Games in Korea in February, the Russian Soccer World Cup in June and the Indonesian-hosted Asian
Games in August), 2) to meet recovered consumer demand for chicken meat after a long-lasting Highly
Pathogenic Avian Influenza (HPAI) outbreak, and 3) to meet strong demand for poultry caused by its relatively
cheaper prices compared with pork and beef.
I MY
, Ko ea’s hi ke p odu tio is e pe ted to de ease . pe e t to
,
MT f o
,
MT i
MY 2016, due to a reduced number of slaughtered chickens during the first half of MY 2017. The number of
chickens slaughtered during the first six months of 2017 decreased significantly (by 9.9 percent) to 436 million
birds, from 484 million birds during the same period of previous marketing year.
An ongoing Highly Pathogenic Avian Influenza (HPAI) outbreak across the Korean peninsula had caused a large
depopulation (about 34.3 million birds) of the chicken inventory starting in November 2016. During an intensive
HPAI sta pi g out pe iod the Ko ea government, 25 million birds, or 52 percent of the total layer
inventory, were culled. About four million broiler chickens were also depopulated, including 1.7 million
parental stock (PS) broiler chickens. This led to a deficit of commercial chicks and parental stock broilers for
almost two months, and thus a reduced number of chickens available for slaughter. In short, the HPAI outbreak
meant that Korean broiler farms were faced with two problems. First, during the first quarter of 2017, a
suspension by the Korean Quarantine Authority on the movement of live birds within the HPAI infected areas
prevented farmers from shipping out chickens to slaughter on a timely basis. Second, farmers faced a reduced
number of PS broiler chickens, which led to a scarcity of commercial chicks.
However, chicken production for the second half of 2017 is expected to recover rapidly, as the HPAI outbreak
has slowed since May 2017, and the inventory of PS broilers has increased to meet expectations for increased
potential demand in early 2018 (caused by the Winter Olympic Games in February).
Ko ea’s Mo thl & Yea l “laughte i g Figu e fo Chi ke
Jan.
Feb.
MY 2014
63,512
64,604
MY 2015
70,032
59,809
MY 2016
72,420
70,565
MY 2017
68,871
62,218
Change (%)
-4.9
-11.8
Source: Korea Broiler Council (KBC)
HPAI Outbreak
Mar.
Apr.
May
June
62,701
72,065
82,821
72,061
-13
65,606
75,027
81,786
67,040
-18
79,184
81,846
86,338
77,391
-10.4
81,289
91,856
90,030
88,521
-1.7
U it: ,
i ds
First 6 Months Sub Total
416,896
450,635
483,960
436,102
-9.9
Annual
Total
885,324
966,965
992,518
N/A
2.6
Since the HPAI outbreak began in November 2016, it spread across the nation and led to a massive
depopulation of Korean chickens during the first half of MY 2017. In total, about 32 million chickens, or about
20 percent of total chicken inventory, were culled. The massive depopulation of layers also caused a shortage
of egg supplies in the Korean food market during the first half of 2017. Egg retail prices doubled, despite the
extra supply from a government-imposed short-term duty-free Tariff Rate Quota (TRQ) for 98,600 MT of fresh
eggs and processed egg products.
Although the actual depopulated number of broilers was about four million birds (about five percent of total
broiler inventory), the HPAI outbreak had a large impact on the Korean broiler industry during the first half of
2017 due to the resulting suspended movement of live birds, including the suspension of receiving commercial
chicks within the HPAI surveillance areas. According to the Korea Broiler Council (KBC), about 35 percent of
total broiler farms were located within the HPAI surveillance areas (a three to 10 km radius around each farm
with an HPAI outbreak) and the farms in these areas could not receive any commercial chicks for about 50
days. This moratorium on movement caused a reduced supply of chicken in the market and an increase in the
farm gate and wholesale market prices accordingly.
HPAI was confirmed positive on 419 farms since the first outbreak of HPAI on November 16, 2016. The most
recent case was reported on June 19, 2017. The breakout of HPAI positive farms during this time period
(November 16 - June 19) was as follows: 125 duck farms, 153 layer farms, 53 native chicken farms, 5 layer
breeding stock farms, 18 broiler breeding stock farms, 4 broiler farms, 7 quail farms, 33 duck breeding farms, 1
duck egg farm, 6 Beksemi farms, 1 ornamental bird farm, 1 native breeding stock farm, 1 broiler GPS farm, 1
duck GPS farm, 2 wild goose farm, 1 other and 7 ogol chicken farms.
Status of depopulated birds (November 16, 2016- June 19, 2017):
Chicken: 31.7 million (20.4% of total chicken stock)
Layers: 25 million (36% of total layers
Layer Parental Stock: 0.44 million (51.5% of total layer breeding stock)
Broilers, Native & Ogol chickens: 4.4 million (5.6% of total broilers)
Ducks: 3.32 million (37.9% of total ducks)
Quails and others: 3.01 million (20.1 % of total stock)
HPAI was also confirmed positive in 65 cases from wild birds and their fecal matter (45 cases from wild birds and
20 cases from their fecal matter). Wild birds were found to have the following strains of HPAI:
H5N6 Type (52 cases)
H5N8 Type (13 cases)
Consumption:
I MY
, Ko ea’s hi ke o su ptio is p oje ted to i crease three percent to 1.01 million MT from 0.98
million MT in MY 2017, due to potential extra chicken demand during several upcoming international sporting
events scheduled throughout marketing year 2018. Normally, the Korean chicken industry experiences about a
five percent increase in chicken consumption during big sporting events. The winter Olympic Games is
scheduled in Korea in February 2018, followed by the Russian World Cup soccer event in June 2018, and the
Asian Games in Indonesia in August.
In MY 2017, Korean chicken consumption is expected to decrease slightly (1.4 percent) to 977,000 MT from
991,000 MT in MY 2016, mainly due to: 1) reduced domestic supply from the HPAI outbreak, and 2) a decrease
in consumer confidence in food safety in poultry and egg products caused by a long-lasting HPAI outbreak and
domestic pesticide contaminated egg issues that occurred in August 2017. However, chicken consumption will
not decrease significantly because it is still a cheap source of animal protein relative to beef and pork.
As the supply of domestic chickens decreased substantially during the first half of MY 2017, it led to increased
prices for farm gate and wholesale chickens (39 percent and 29 percent respectively). Meanwhile, consumer
prices increased only three percent during the same period due to pressure from the Korean government and
many consumer civic groups.
Ko ea’s A e age Chi ke P i es Du i g Ja ua – June Period (Unit: Korean Won / Kilogram)
Price
CY 2016
CY 2017
Change (%)
Farm Price
1,374
1,916
39%
Wholesale price
2,677
3,451
29%
Consumer price
5,329
5,498
3%
Source: National Agricultural Cooperative Federation (NACF)
I MY
, Ko ea’s hi ke o su ptio i eased th ee pe e t to
,
MT f o the p e ious a keting
year as a result of increased domestic chicken supply and chicken imports and subsequent lower
prices. Additio all , a TV do u e ta p og a ad e tisi g a Ne Diet fo High Fat a d Lo Ca oh d ates
pushed up extra demand for beef, pork, and chicken meat, and was very popular among Korean consumers
throughout the year.
Trade:
Imports
In MY 2018, chicken imports are projected to increase about 3.8 percent to 135,000 MT from 130,000 MT in MY
2017, mainly due to a potential increased demand driven by several international sporting events, such as the
Korean Winter Olympic Games in February, the Russian soccer World Cup in June, and the Indonesian-hosted
Asian Games in August. Although Brazil lost its dominant market share in Korea in 2017, due to a Brazilian
tainted chicken scandal in April 2017 followed by the resumption of U.S. chicken imports since August 2017, the
United States and Brazil are again expected to compete for the imported chicken market in Korea in 2018.
In MY 2017, chicken imports are expected to increase slightly (1.6 percent) to 130,000 MT from 128,000 MT in
MY 2016 to accommodate for the drop in domestic chicken supply due to the HPAI outbreak during the 1 st
quarter of 2017. The U.S. market share is expected to recover more quickly from the 2017 HPAI outbreak (and
subsequent ban on imports) than it had after the 2016 HPAI outbreak. After the January 2016 HPAI outbreak in
Indiana state, imports had resumed in November 2016; meanwhile, after the outbreak of HPAI in Tennessee
state in March 2017, imports resumed in August 2017, only five months later.
Because of frequent HPAI outbreaks in the United States during the past three years, U.S. chicken exports to
Korea dropped by 89 percent, to only 7,110 MT in MY 2016 from 64,937 MT in MY 2014 (when there was an
HPAI-free status in the United States). On the other hand, Brazil increased its export volume to Korea by 78.8
percent to 93,553 MT in MY 2016 from 52,337 MT in MY 2014. However, in MY 2017, the number of chicken
imports f o B azil ill de ease due Ko ea o su e s’ o e s a out food safet afte a tai ted hi ke
scandal by one of the top chicken producers in Brazil in March 2017, despite no actual imports from the
pertinent poultry establishment.
In MY 2016, Korea imported 128,336 MT of chicken and chicken products from the world, up 8.2 percent from
MY
i po ts
,
MT due to the o ti ui g popula it of hi ke a d ee
chi-maek”) as a
meal. In November 2016, the Korean government allowed chicken imports from Thailand for the first time in 12
years. Fresh and frozen poultry imports from Thailand had been suspended due to an HPAI outbreak in 2004,
and Korea had only allowed the import of Thai heat-treated chicken meat since that time. However, the Korean
chicken industry forecasts Thai chicken imports will not be strong in the short-run, since Thai poultry is less price
competitive than U.S. and Brazilian poultry. Korea imports about 15,000 MT of heat-treated Thai chicken
annually. Brazil was the dominant chicken supplier to the Korean market in MY 2016 with a 73 percent market
share, followed by Thailand with 12 percent, the United States with 5.5 percent, and Denmark with five
percent.
Exports
I MY
, Ko ea’s hi ke e po ts a e p oje ted to recover to 25,000 MT, which is a slightly lower level of
exports than achieved during the last year largely unaffected by the Korean HPAI outbreak, MY 2016 (27,000
MT). Most Korean chicken exports (20,000 MT) will be old layer hens to Vietnam, and the remainder will be
found in chicken ginseng soup exports to Japan and the United States. Chinese demand for Korean old layer
hens, which is usually high, will be low in MY 2018, due to the reduced consumer demand for Korean food
products caused by ongoing political issues between two countries over the THAAD (U.S. missile defense) issue
on the Korean peninsula.
In MY 2017, Korean chicken exports are expected to decrease drastically to 3,000 MT from 27,000 MT in MY
2016 due to the import suspension on Korean chicken products by several major importing countries such as
Vietnam, Hong Kong and China, which came as a reaction to the HPAI outbreak beginning in November
2016. Korean chicken exports dropped by 91.5 percent to 1,256 MT during the first six months of MY 2017
compared to 14,828 MT during the same period of MY 2016. Only heat-treated Korean chicken products (in the
form of chicken ginseng soup) were exported during this period, mainly to Japan and United States. China does
not allow imports of heat-treated Korean chicken products based on the current import health protocol that
both countries agreed to in June 2016.
In MY 2016, Korean chicken exports increased about 1,000 MT, to 27,000 MT, due to the increased demand in
Hong Kong for Korean chicken ginseng soup. However, Vietnam is still the biggest export market for Korean
hi ke , ai l i the fo of old la e he s’ eat, follo ed Ho g Ko g ,
MT a d the U ited “tates
(493 MT), which import heat-treated chicken (chicken ginseng soup).
Tariff Phase-Out Schedule under KORUS FTA
Ko ea’s pe e t ta iff o i po ts i the do i a t f oze leg ua te atego
ill e phased out
,
while tariffs on frozen breasts and wings will be eliminated by 2023. The 18-percent tariff on frozen turkey cuts
will be eliminated by 2018.
HSK 10
Description
0207141010
Frozen Chicken Legs
0207141020
Frozen Chicken Breast
0207141030
Frozen Chicken Wing
0207141090
Other Frozen Chicken
0207271000
Frozen Turkey Cuts
Source: Korea Customs Service (KCS)
Base Rate
20%
20%
20%
20%
18%
2018
6%
8.3%
8.3%
6%
0%
2019
4%
6.6%
6.6%
4%
0%
2020
2%
5%
5%
2%
0%
Production, Supply and Demand Data Statistics:
Poultry, Meat, Broiler
Market Begin Year
Korea, Republic of
2016
2017
2018
Jan 2016
Jan 2017
Jan 2018
USDA Official
New Post
USDA Official
New Post
USDA Official
New Post
Inventory (Reference)
88
89
0
88
0
90
Slaughter (Reference)
Beginning Stocks
Production
Total Imports
Total Supply
Total Exports
950
35
913
128
1076
27
993
35
900
128
1063
27
0
40
900
145
1085
25
946
45
850
130
1025
3
0
0
0
0
0
0
995
45
905
135
1085
25
Human Consumption
Other Use, Losses
Total Dom. Consumption
Total Use
Ending Stocks
Total Distribution
1009
0
1009
1036
40
1076
991
0
991
1018
45
1063
1020
0
1020
1045
40
1085
977
0
977
980
45
1025
0
0
0
0
0
0
1015
0
1015
1040
45
1085
(MIL HEAD) ,(1000 MT)
Author Defined:
Price Comparison (Unit: Korean Won per Kilogram) 4/
Imports 2/
Domestic
Cuts
1/
U.S.
Brazil 3/ Denmark Thailand
Leg
6,120
1,103
2,163
2,248
2,981
Wing
7,205
2,757
2,693
3,240
Breast
6,930
2,241
2,628
1/ Chilled products, average retail price for January 1 – June 30, 2017 period
2/ Average CIF prices between January 1 through June 30, 2017
3/ Frozen Trimmed bone-less products (Mostly)
4/ Average exchange rate (1$ = 1,142.14 Korean won) for January – June 2017 period
Source: Korea Chicken Council & Korea Customs Service
Countries that are currently allowed to export to Korea are as follows (As of August 18, 2017):
Approved Suppliers
Items
Australia, New Zealand, Denmark, Spain, Netherlands, Japan, Canada and
Poultry birds (include pet or wild
the United States.
bird), hatching eggs, day old
chicks.
Australia, New Zealand, Denmark, Canada, Thailand, Spain, Netherlands,
Table eggs.
Japan and the United States
Australia, Chile, Denmark, Brazil, Netherlands, Canada, Thailand and the
Fresh, chilled, or frozen poultry
United States.
meat
Australia, United Kingdom, France, Chile, Denmark, Sweden, Japan, Brazil,
Heat-treated poultry meat
Thailand, Netherlands, Hungary, China, Poland, the United States and
Canada
Source: The Ministry of Agriculture, Food and Rural Affairs (MAFRA)
Frozen Chicken Cut Imports by Country
Country
U.S.
Brazil
Denmark
Chile
Australia
Other
Sub Total
CY 2016
Volume (MT) Value (US$1,000)
6,805
6,855
91,421
163,449
1,446
2,695
0
0
487
1,187
0
0
100,159
174,185
CY 2017 (January- June)
Volume (MT) Value (US$1,000)
9,314
38,408
179
0
141
373
48,415
8,992
72,729
352
0
369
772
83,214
U.S.
Brazil
Denmark
Thailand
Hungary
Other
Sub Total
0
409
2,315
0
188
0
2,912
0
1,009
5,230
0
525
2
6,766
U.S.
30
157
Brazil
1,714
3,411
Thailand
0
0
Other
0
1
Sub Total
1,744
3,569
U.S.
6,835
7,012
Brazil
93,544
167,869
Denmark
3,761
7,925
Thailand
0
0
Hungary
188
525
Australia
487
1187
Others
0
3
Total
104,815
184,521
Source: Global Trade Atlas (GTA)
0
118
338
748
0
1
1,205
0
285
797
2,122
0
0
3,204
0
736
31
0
767
0
1,444
71
2
1,517
9,314
39,262
517
779
0
141
374
50,387
8,992
74,458
1,149
2193
0
369
774
87,935
Processed Chicken Imports by Country
Country
CY 2016
Volume (MT) Value (US$1,000)
China
3,468
Thailand
15,371
United States
225
Other
10
Total
19,074
Source: Global Trade Atlas (GTA)
12,779
62,082
1,319
49
76,229
CY 2017 (January- June)
Volume (MT) Value (US$1,000)
1,852
9,448
206
5
11,511
6,447
37,554
1,204
37
45,242
PRODUCTION AND CONSUMPTION
Korea: Broiler Inventories 1/
(Unit: 1,000 birds)
Year Farms
Birds
2008 1,807
77,853
2009 2,249
99,983
2010 2,238 101,690
2011 2,266 110,122
2012 2,058
97,750
2013 1,972
95,898
2014 2,035 103,593
2015 2,120 110,489
2016 1,912 101,014
2017 1,933 104,205
1/ June Inventories
Source: Korea Statistical Information Service (KOSIS)
Korea: Production Costs of Broilers 1/
(Korean Won per Kilogram in Live Weight)
Year Operating Cost Production Cost Farm Price
2008
1,049
1,097
1,567
2009
1,255
1,311
1,936
2010
1,292
1,342
1,913
2011
1,317
1,377
1,858
2012
1,299
1,361
1,693
2013
1,339
1,400
1,839
2014
1,277
1,340
1,574
2015
1,214
1,278
1,486
2016
1,183
1,244
1,514
Source: Korea Statistical Information Service (KOSIS)
Korea: Production Cost of Broilers
(Korean Won per Kilogram in Live Weight)
CY 2015
Item
Average Cost Component Ratio (%)
Feed
744
61
Chicks
267
22
Family Labor
58
5
Vet & Medicine
31
3
Water, Power, etc.
48
4
CY 2016
Average Cost Component Ratio (%)
707
60
279
24
56
5
31
3
45
4
Other
63
5
Total
1,211
100
By Product
3
Cost Total
1,214
Source: Korea Statistical Information Service (KOSIS)
63
1,181
2
1,183
Korea: Per Capita Consumption of Livestock Products
(Unit: Kilogram, boneless basis)
Year
Total Meat Beef Pork Chicken
Egg
2007
35.7
7.6
19.2
8.9
11.3
2008
35.6
7.5
19.1
9.0
11.2
2009
36.8
8.1
19.1
9.6
11.9
2010
38.7
8.8
19.2
10.7
11.8
2011
40.4
10.2 18.8
11.4
11.6
2012
40.5
9.7
19.2
11.6
12.1
2013
42.7
10.3 20.9
11.5
12
2014
45.8
10.8 22.2
12.8
13
2015
47.1
10.9 22.8
13.4
12.9
2016 1/
48.7
11.5 23.3
13.9
12.5
2017 1/
48.3
11.6 22.6
14.1
10.6
1/ Preliminary forecast by the Korea Rural Economic Institute (KREI)
Source: Ministry of Agriculture, Food and Rural Affairs (MAFRA)
PRICE TABLES
Korea: Year Average Broiler Prices
(Korean Won/Kg, boneless basis)
Year
2013
2014
2015
2016 2017 1/
Farm Price
1,839 1,574 1,486 1,514
1,916
Wholesale Price 3,412 3,108 2,941 2,864
3,451
Consumer Price 5,971 5,615 5,254 5,364
5,498
1/ Average price, January through June 2017
Source: National Agricultural Cooperative Federation
5
100
-
Korea: Farm Price for Chicken Meat
Chicken Meat, Farm Price
Commodity
Unit: Korean Won per Kilogram
Year
2015
2016
2017 % Change comparing to previous year
Month
Jan.
1,643 1,499 1,276
-14.9
Feb.
1,745 1,342 2,007
49.6
Mar.
1,790 1,373 2,041
48.7
Apr.
1,785 1,238 2,008
62.2
May
1,484 1,257 2,471
96.6
Jun.
1,379 1,535 1,666
8.5
Jul.
1,412 1,545 1,630
5.5
Aug.
1,213 1,814
49.5
Sep.
1,118 1,628
45.6
Oct.
1,415 2,018
42.6
Nov.
1,334 1,588
19.0
Dec.
1,518 1,329
-12.5
Source: National Agricultural Cooperative Federation (NACF) and Agricultural & Fishery Marketing Corporation
Korea: Wholesale Price for Chicken Meat
Chicken Meat, Wholesale Price
Commodity
Unit: Korean Won per Kilogram
Year
2015
2016
2017 % Change comparing to previous year
Month
Jan.
3,306 2,826 2,635
-6.8
Feb.
3,362 2,643 3,614
36.7
Mar.
3,409 2,677 3,646
36.2
Apr.
3,353 2,487 3,547
42.6
May
2,968 2,500 4,126
65.0
Jun.
2,870 2,930 3,138
7.1
Jul.
2,868 2,926 3,044
4.0
Aug.
2,626 3,225
22.8
Sep.
2,481 2,947
18.8
Oct.
2,649 3,644
37.6
Nov.
2,545 3,048
19.8
Dec.
2,849 2,512
-11.8
Source: National Agricultural Cooperative Federation (NACF) and Agricultural & Fishery Marketing Corporation
Korea: Consumer Price for Chicken Meat
Commodity
Chicken Meat, Consumer Price
Unit: Korean Won per Kilogram
Year
2015
2016
2017 % Change comparing to previous year
Month
Jan.
5,511 5,265 5,062
-3.9
Feb.
5,115 5,107 5,323
4.2
Mar.
5,486 5,545 5,577
0.6
Apr.
5,386 5,308 5,510
3.8
May
5,318 5,220 5,830
11.7
Jun.
5,338 5,529 5,683
2.8
Jul.
5,338 5,436 5,290
-2.7
Aug.
5,196 5,337
2.7
Sep.
5,185 5,056
-2.5
Oct.
4,965 5,716
15.1
Nov.
5,056 5,579
10.3
Dec.
5,150 5,266
2.3
Source: National Agricultural Cooperative Federation and Agricultural & Fishery Marketing Corporation
Korea: Monthly Average Foreign Exchange Rate
(Unit: Korean Won / 1U$)
Month
2015
2016
Jan.
1088.86 1201.67
Feb.
1098.40 1217.35
Mar.
1112.57 1188.21
Apr.
1088.66 1147.51
May
1091.27 1171.51
Jun.
1112.20 1170.50
Jul.
1143.22 1144.09
Aug.
1179.10 1111.68
Sep.
1184.76 1107.49
Oct.
1148.18 1125.28
Nov.
1151.97 1161.64
Dec.
1172.24 1182.28
Source: Industrial Bank of Korea
2017
1185.10
1144.92
1134.77
1132.73
1125.28
1130.04
1134.40
-
TRADE MATRIX
Korea: Import Matrix for Chicken Meat 1/
Import Trade Matrix
Country: Korea
Commodity: Chicken Meat
Imports for
Country
U.S.
Others
Thailand
P.R.C.
Sweden
Denmark
France
U.K.
Chile
Japan
Brazil
Australia
Other
CY 2015
Unit: MT & U$1,000, RTC Basis
Jan.-Jun.
CY 2016
2016
Vol
Val
Vol
Val
7,110
8,441
934
1,272
Jan.-Jun.
2017
Vol
Val
9,559
10,251
Vol
10,752
Val
15,542
15,469
3,089
1,412
7,208
0
0
117
0
80,134
231
67,227
12,125
1,977
14,400
0
0
260
0
185,287
505
15,371
3,468
1,656
6,357
0
0
0
0
93,553
560
62,083
12,779
2,052
11,009
0
1
0
0
167,885
1,265
6,256
1,824
0
3,084
0
0
0
0
46,393
292
25,494
6,771
0
5,509
0
0
0
0
84,622
613
10,353
1,852
285
1,393
0
22
0
0
39,286
242
40,073
6,447
323
2,192
1
27
0
0
74,478
511
188
427
261
616
856
1,209
229
429
Total for Others 107,848 282,208 121,226 257,690 58,705 124,218 53,662 124,481
Grand Total
118,600 297,750 128,336 266,131 59,639 125,490 63,221 134,732
1/ HS 0207.1X.XXXX plus HS 1602.32.XXXX
Source: Korea Customs Service
27
Korea: Export Matrix for Chicken Meat 1/
Export Trade Matrix
Country: Korea
Commodity: Chicken Meat
Unit: MT & U$1,000, RTC Basis
Jan.-Jun.
Jan.-Jun.
CY 2015
CY 2016
Imports for
2016
2017
Country
Vol
Val
Vol
Val
Vol
Val
Vol
Val
U.S.
570
3,378
493
2,889
205
1,212
306 1,809
Others
Hong Kong
333
1,,06
3,027
4,712
1,579
2,323
147
579
Japan
888
3,503
893
3,801
329
1,441
369 1,570
P.R.C.
9
50
195
863
21
121
21
97
Taiwan
332
1,365
477
1,854
213
807
153
579
Thailand
3
12
1
5
0
0
0
0
Vietnam
Iraq
Turkey
Australia
Russia
24,041
1
0
28
0
30,929
21
0
134
0
21,980
1
0
41
0
21,788
19
0
197
0
12,383
0
0
20
0
12,825
0
0
95
0
139
0
0
31
0
173
1
0
141
0
198
1010
196
1,007
78
425
90
507
Total for Others 25,833 38,330 26,811
Grand Total
26,403 41,708 27,304
1/ HS 0207.1X.XXXX plus HS 1602.32.XXXX
Source: Korea Customs Service
34,246
37,135
14,623
14,828
18,037
19,249
950
1,256
3,647
5,456
Other
USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT
POLICY
Required Report - public distribution
Date: 8/31/2017
GAIN Report Number: KS1725
Korea - Republic of
Poultry and Products Annual
Annual
Approved By:
Sunyoung Choi / Amanda F. Hinkle
Prepared By:
Amanda F. Hinkle
Report Highlights:
After a difficult year in 2017 caused by a long-lasting Highly Pathogenic Avian Influenza (HPAI) outbreak in
Korea, Post projects that production will rebound in marketing year (MY) 2018 to 905,000 metric tons (MT)
from 850,000 MT in MY 2017. Post also anticipates that consumption will increase in MY 2018 to 1.01 million
MT, as consumer confidence rebounds following the cleanup of HPAI, and demand is increased due to a series
of international sporting events. Finally, imports are forecasted to increase to 135,000 MT to meet the
increased demand from these sporting events. Both U.S. and Brazilian imports are expected to increase, as the
United States recovers from the effect of its own 2017 HPAI outbreak and Brazil recovers from the impact of an
April 2017 tainted poultry meat scandal.
Commodities:
Poultry, Meat, Broiler
Production:
In Marketing Year (MY) 2018 (January – De e e , Ko ea’s hi ke p oduction is projected to increase 6.5
percent to 905,000 metric tons (MT) from 850,000 MT in MY 2017, mainly for three reasons: 1) to meet
potential extra chicken demand during several international sporting events throughout MY 2018 (the Winter
Olympic Games in Korea in February, the Russian Soccer World Cup in June and the Indonesian-hosted Asian
Games in August), 2) to meet recovered consumer demand for chicken meat after a long-lasting Highly
Pathogenic Avian Influenza (HPAI) outbreak, and 3) to meet strong demand for poultry caused by its relatively
cheaper prices compared with pork and beef.
I MY
, Ko ea’s hi ke p odu tio is e pe ted to de ease . pe e t to
,
MT f o
,
MT i
MY 2016, due to a reduced number of slaughtered chickens during the first half of MY 2017. The number of
chickens slaughtered during the first six months of 2017 decreased significantly (by 9.9 percent) to 436 million
birds, from 484 million birds during the same period of previous marketing year.
An ongoing Highly Pathogenic Avian Influenza (HPAI) outbreak across the Korean peninsula had caused a large
depopulation (about 34.3 million birds) of the chicken inventory starting in November 2016. During an intensive
HPAI sta pi g out pe iod the Ko ea government, 25 million birds, or 52 percent of the total layer
inventory, were culled. About four million broiler chickens were also depopulated, including 1.7 million
parental stock (PS) broiler chickens. This led to a deficit of commercial chicks and parental stock broilers for
almost two months, and thus a reduced number of chickens available for slaughter. In short, the HPAI outbreak
meant that Korean broiler farms were faced with two problems. First, during the first quarter of 2017, a
suspension by the Korean Quarantine Authority on the movement of live birds within the HPAI infected areas
prevented farmers from shipping out chickens to slaughter on a timely basis. Second, farmers faced a reduced
number of PS broiler chickens, which led to a scarcity of commercial chicks.
However, chicken production for the second half of 2017 is expected to recover rapidly, as the HPAI outbreak
has slowed since May 2017, and the inventory of PS broilers has increased to meet expectations for increased
potential demand in early 2018 (caused by the Winter Olympic Games in February).
Ko ea’s Mo thl & Yea l “laughte i g Figu e fo Chi ke
Jan.
Feb.
MY 2014
63,512
64,604
MY 2015
70,032
59,809
MY 2016
72,420
70,565
MY 2017
68,871
62,218
Change (%)
-4.9
-11.8
Source: Korea Broiler Council (KBC)
HPAI Outbreak
Mar.
Apr.
May
June
62,701
72,065
82,821
72,061
-13
65,606
75,027
81,786
67,040
-18
79,184
81,846
86,338
77,391
-10.4
81,289
91,856
90,030
88,521
-1.7
U it: ,
i ds
First 6 Months Sub Total
416,896
450,635
483,960
436,102
-9.9
Annual
Total
885,324
966,965
992,518
N/A
2.6
Since the HPAI outbreak began in November 2016, it spread across the nation and led to a massive
depopulation of Korean chickens during the first half of MY 2017. In total, about 32 million chickens, or about
20 percent of total chicken inventory, were culled. The massive depopulation of layers also caused a shortage
of egg supplies in the Korean food market during the first half of 2017. Egg retail prices doubled, despite the
extra supply from a government-imposed short-term duty-free Tariff Rate Quota (TRQ) for 98,600 MT of fresh
eggs and processed egg products.
Although the actual depopulated number of broilers was about four million birds (about five percent of total
broiler inventory), the HPAI outbreak had a large impact on the Korean broiler industry during the first half of
2017 due to the resulting suspended movement of live birds, including the suspension of receiving commercial
chicks within the HPAI surveillance areas. According to the Korea Broiler Council (KBC), about 35 percent of
total broiler farms were located within the HPAI surveillance areas (a three to 10 km radius around each farm
with an HPAI outbreak) and the farms in these areas could not receive any commercial chicks for about 50
days. This moratorium on movement caused a reduced supply of chicken in the market and an increase in the
farm gate and wholesale market prices accordingly.
HPAI was confirmed positive on 419 farms since the first outbreak of HPAI on November 16, 2016. The most
recent case was reported on June 19, 2017. The breakout of HPAI positive farms during this time period
(November 16 - June 19) was as follows: 125 duck farms, 153 layer farms, 53 native chicken farms, 5 layer
breeding stock farms, 18 broiler breeding stock farms, 4 broiler farms, 7 quail farms, 33 duck breeding farms, 1
duck egg farm, 6 Beksemi farms, 1 ornamental bird farm, 1 native breeding stock farm, 1 broiler GPS farm, 1
duck GPS farm, 2 wild goose farm, 1 other and 7 ogol chicken farms.
Status of depopulated birds (November 16, 2016- June 19, 2017):
Chicken: 31.7 million (20.4% of total chicken stock)
Layers: 25 million (36% of total layers
Layer Parental Stock: 0.44 million (51.5% of total layer breeding stock)
Broilers, Native & Ogol chickens: 4.4 million (5.6% of total broilers)
Ducks: 3.32 million (37.9% of total ducks)
Quails and others: 3.01 million (20.1 % of total stock)
HPAI was also confirmed positive in 65 cases from wild birds and their fecal matter (45 cases from wild birds and
20 cases from their fecal matter). Wild birds were found to have the following strains of HPAI:
H5N6 Type (52 cases)
H5N8 Type (13 cases)
Consumption:
I MY
, Ko ea’s hi ke o su ptio is p oje ted to i crease three percent to 1.01 million MT from 0.98
million MT in MY 2017, due to potential extra chicken demand during several upcoming international sporting
events scheduled throughout marketing year 2018. Normally, the Korean chicken industry experiences about a
five percent increase in chicken consumption during big sporting events. The winter Olympic Games is
scheduled in Korea in February 2018, followed by the Russian World Cup soccer event in June 2018, and the
Asian Games in Indonesia in August.
In MY 2017, Korean chicken consumption is expected to decrease slightly (1.4 percent) to 977,000 MT from
991,000 MT in MY 2016, mainly due to: 1) reduced domestic supply from the HPAI outbreak, and 2) a decrease
in consumer confidence in food safety in poultry and egg products caused by a long-lasting HPAI outbreak and
domestic pesticide contaminated egg issues that occurred in August 2017. However, chicken consumption will
not decrease significantly because it is still a cheap source of animal protein relative to beef and pork.
As the supply of domestic chickens decreased substantially during the first half of MY 2017, it led to increased
prices for farm gate and wholesale chickens (39 percent and 29 percent respectively). Meanwhile, consumer
prices increased only three percent during the same period due to pressure from the Korean government and
many consumer civic groups.
Ko ea’s A e age Chi ke P i es Du i g Ja ua – June Period (Unit: Korean Won / Kilogram)
Price
CY 2016
CY 2017
Change (%)
Farm Price
1,374
1,916
39%
Wholesale price
2,677
3,451
29%
Consumer price
5,329
5,498
3%
Source: National Agricultural Cooperative Federation (NACF)
I MY
, Ko ea’s hi ke o su ptio i eased th ee pe e t to
,
MT f o the p e ious a keting
year as a result of increased domestic chicken supply and chicken imports and subsequent lower
prices. Additio all , a TV do u e ta p og a ad e tisi g a Ne Diet fo High Fat a d Lo Ca oh d ates
pushed up extra demand for beef, pork, and chicken meat, and was very popular among Korean consumers
throughout the year.
Trade:
Imports
In MY 2018, chicken imports are projected to increase about 3.8 percent to 135,000 MT from 130,000 MT in MY
2017, mainly due to a potential increased demand driven by several international sporting events, such as the
Korean Winter Olympic Games in February, the Russian soccer World Cup in June, and the Indonesian-hosted
Asian Games in August. Although Brazil lost its dominant market share in Korea in 2017, due to a Brazilian
tainted chicken scandal in April 2017 followed by the resumption of U.S. chicken imports since August 2017, the
United States and Brazil are again expected to compete for the imported chicken market in Korea in 2018.
In MY 2017, chicken imports are expected to increase slightly (1.6 percent) to 130,000 MT from 128,000 MT in
MY 2016 to accommodate for the drop in domestic chicken supply due to the HPAI outbreak during the 1 st
quarter of 2017. The U.S. market share is expected to recover more quickly from the 2017 HPAI outbreak (and
subsequent ban on imports) than it had after the 2016 HPAI outbreak. After the January 2016 HPAI outbreak in
Indiana state, imports had resumed in November 2016; meanwhile, after the outbreak of HPAI in Tennessee
state in March 2017, imports resumed in August 2017, only five months later.
Because of frequent HPAI outbreaks in the United States during the past three years, U.S. chicken exports to
Korea dropped by 89 percent, to only 7,110 MT in MY 2016 from 64,937 MT in MY 2014 (when there was an
HPAI-free status in the United States). On the other hand, Brazil increased its export volume to Korea by 78.8
percent to 93,553 MT in MY 2016 from 52,337 MT in MY 2014. However, in MY 2017, the number of chicken
imports f o B azil ill de ease due Ko ea o su e s’ o e s a out food safet afte a tai ted hi ke
scandal by one of the top chicken producers in Brazil in March 2017, despite no actual imports from the
pertinent poultry establishment.
In MY 2016, Korea imported 128,336 MT of chicken and chicken products from the world, up 8.2 percent from
MY
i po ts
,
MT due to the o ti ui g popula it of hi ke a d ee
chi-maek”) as a
meal. In November 2016, the Korean government allowed chicken imports from Thailand for the first time in 12
years. Fresh and frozen poultry imports from Thailand had been suspended due to an HPAI outbreak in 2004,
and Korea had only allowed the import of Thai heat-treated chicken meat since that time. However, the Korean
chicken industry forecasts Thai chicken imports will not be strong in the short-run, since Thai poultry is less price
competitive than U.S. and Brazilian poultry. Korea imports about 15,000 MT of heat-treated Thai chicken
annually. Brazil was the dominant chicken supplier to the Korean market in MY 2016 with a 73 percent market
share, followed by Thailand with 12 percent, the United States with 5.5 percent, and Denmark with five
percent.
Exports
I MY
, Ko ea’s hi ke e po ts a e p oje ted to recover to 25,000 MT, which is a slightly lower level of
exports than achieved during the last year largely unaffected by the Korean HPAI outbreak, MY 2016 (27,000
MT). Most Korean chicken exports (20,000 MT) will be old layer hens to Vietnam, and the remainder will be
found in chicken ginseng soup exports to Japan and the United States. Chinese demand for Korean old layer
hens, which is usually high, will be low in MY 2018, due to the reduced consumer demand for Korean food
products caused by ongoing political issues between two countries over the THAAD (U.S. missile defense) issue
on the Korean peninsula.
In MY 2017, Korean chicken exports are expected to decrease drastically to 3,000 MT from 27,000 MT in MY
2016 due to the import suspension on Korean chicken products by several major importing countries such as
Vietnam, Hong Kong and China, which came as a reaction to the HPAI outbreak beginning in November
2016. Korean chicken exports dropped by 91.5 percent to 1,256 MT during the first six months of MY 2017
compared to 14,828 MT during the same period of MY 2016. Only heat-treated Korean chicken products (in the
form of chicken ginseng soup) were exported during this period, mainly to Japan and United States. China does
not allow imports of heat-treated Korean chicken products based on the current import health protocol that
both countries agreed to in June 2016.
In MY 2016, Korean chicken exports increased about 1,000 MT, to 27,000 MT, due to the increased demand in
Hong Kong for Korean chicken ginseng soup. However, Vietnam is still the biggest export market for Korean
hi ke , ai l i the fo of old la e he s’ eat, follo ed Ho g Ko g ,
MT a d the U ited “tates
(493 MT), which import heat-treated chicken (chicken ginseng soup).
Tariff Phase-Out Schedule under KORUS FTA
Ko ea’s pe e t ta iff o i po ts i the do i a t f oze leg ua te atego
ill e phased out
,
while tariffs on frozen breasts and wings will be eliminated by 2023. The 18-percent tariff on frozen turkey cuts
will be eliminated by 2018.
HSK 10
Description
0207141010
Frozen Chicken Legs
0207141020
Frozen Chicken Breast
0207141030
Frozen Chicken Wing
0207141090
Other Frozen Chicken
0207271000
Frozen Turkey Cuts
Source: Korea Customs Service (KCS)
Base Rate
20%
20%
20%
20%
18%
2018
6%
8.3%
8.3%
6%
0%
2019
4%
6.6%
6.6%
4%
0%
2020
2%
5%
5%
2%
0%
Production, Supply and Demand Data Statistics:
Poultry, Meat, Broiler
Market Begin Year
Korea, Republic of
2016
2017
2018
Jan 2016
Jan 2017
Jan 2018
USDA Official
New Post
USDA Official
New Post
USDA Official
New Post
Inventory (Reference)
88
89
0
88
0
90
Slaughter (Reference)
Beginning Stocks
Production
Total Imports
Total Supply
Total Exports
950
35
913
128
1076
27
993
35
900
128
1063
27
0
40
900
145
1085
25
946
45
850
130
1025
3
0
0
0
0
0
0
995
45
905
135
1085
25
Human Consumption
Other Use, Losses
Total Dom. Consumption
Total Use
Ending Stocks
Total Distribution
1009
0
1009
1036
40
1076
991
0
991
1018
45
1063
1020
0
1020
1045
40
1085
977
0
977
980
45
1025
0
0
0
0
0
0
1015
0
1015
1040
45
1085
(MIL HEAD) ,(1000 MT)
Author Defined:
Price Comparison (Unit: Korean Won per Kilogram) 4/
Imports 2/
Domestic
Cuts
1/
U.S.
Brazil 3/ Denmark Thailand
Leg
6,120
1,103
2,163
2,248
2,981
Wing
7,205
2,757
2,693
3,240
Breast
6,930
2,241
2,628
1/ Chilled products, average retail price for January 1 – June 30, 2017 period
2/ Average CIF prices between January 1 through June 30, 2017
3/ Frozen Trimmed bone-less products (Mostly)
4/ Average exchange rate (1$ = 1,142.14 Korean won) for January – June 2017 period
Source: Korea Chicken Council & Korea Customs Service
Countries that are currently allowed to export to Korea are as follows (As of August 18, 2017):
Approved Suppliers
Items
Australia, New Zealand, Denmark, Spain, Netherlands, Japan, Canada and
Poultry birds (include pet or wild
the United States.
bird), hatching eggs, day old
chicks.
Australia, New Zealand, Denmark, Canada, Thailand, Spain, Netherlands,
Table eggs.
Japan and the United States
Australia, Chile, Denmark, Brazil, Netherlands, Canada, Thailand and the
Fresh, chilled, or frozen poultry
United States.
meat
Australia, United Kingdom, France, Chile, Denmark, Sweden, Japan, Brazil,
Heat-treated poultry meat
Thailand, Netherlands, Hungary, China, Poland, the United States and
Canada
Source: The Ministry of Agriculture, Food and Rural Affairs (MAFRA)
Frozen Chicken Cut Imports by Country
Country
U.S.
Brazil
Denmark
Chile
Australia
Other
Sub Total
CY 2016
Volume (MT) Value (US$1,000)
6,805
6,855
91,421
163,449
1,446
2,695
0
0
487
1,187
0
0
100,159
174,185
CY 2017 (January- June)
Volume (MT) Value (US$1,000)
9,314
38,408
179
0
141
373
48,415
8,992
72,729
352
0
369
772
83,214
U.S.
Brazil
Denmark
Thailand
Hungary
Other
Sub Total
0
409
2,315
0
188
0
2,912
0
1,009
5,230
0
525
2
6,766
U.S.
30
157
Brazil
1,714
3,411
Thailand
0
0
Other
0
1
Sub Total
1,744
3,569
U.S.
6,835
7,012
Brazil
93,544
167,869
Denmark
3,761
7,925
Thailand
0
0
Hungary
188
525
Australia
487
1187
Others
0
3
Total
104,815
184,521
Source: Global Trade Atlas (GTA)
0
118
338
748
0
1
1,205
0
285
797
2,122
0
0
3,204
0
736
31
0
767
0
1,444
71
2
1,517
9,314
39,262
517
779
0
141
374
50,387
8,992
74,458
1,149
2193
0
369
774
87,935
Processed Chicken Imports by Country
Country
CY 2016
Volume (MT) Value (US$1,000)
China
3,468
Thailand
15,371
United States
225
Other
10
Total
19,074
Source: Global Trade Atlas (GTA)
12,779
62,082
1,319
49
76,229
CY 2017 (January- June)
Volume (MT) Value (US$1,000)
1,852
9,448
206
5
11,511
6,447
37,554
1,204
37
45,242
PRODUCTION AND CONSUMPTION
Korea: Broiler Inventories 1/
(Unit: 1,000 birds)
Year Farms
Birds
2008 1,807
77,853
2009 2,249
99,983
2010 2,238 101,690
2011 2,266 110,122
2012 2,058
97,750
2013 1,972
95,898
2014 2,035 103,593
2015 2,120 110,489
2016 1,912 101,014
2017 1,933 104,205
1/ June Inventories
Source: Korea Statistical Information Service (KOSIS)
Korea: Production Costs of Broilers 1/
(Korean Won per Kilogram in Live Weight)
Year Operating Cost Production Cost Farm Price
2008
1,049
1,097
1,567
2009
1,255
1,311
1,936
2010
1,292
1,342
1,913
2011
1,317
1,377
1,858
2012
1,299
1,361
1,693
2013
1,339
1,400
1,839
2014
1,277
1,340
1,574
2015
1,214
1,278
1,486
2016
1,183
1,244
1,514
Source: Korea Statistical Information Service (KOSIS)
Korea: Production Cost of Broilers
(Korean Won per Kilogram in Live Weight)
CY 2015
Item
Average Cost Component Ratio (%)
Feed
744
61
Chicks
267
22
Family Labor
58
5
Vet & Medicine
31
3
Water, Power, etc.
48
4
CY 2016
Average Cost Component Ratio (%)
707
60
279
24
56
5
31
3
45
4
Other
63
5
Total
1,211
100
By Product
3
Cost Total
1,214
Source: Korea Statistical Information Service (KOSIS)
63
1,181
2
1,183
Korea: Per Capita Consumption of Livestock Products
(Unit: Kilogram, boneless basis)
Year
Total Meat Beef Pork Chicken
Egg
2007
35.7
7.6
19.2
8.9
11.3
2008
35.6
7.5
19.1
9.0
11.2
2009
36.8
8.1
19.1
9.6
11.9
2010
38.7
8.8
19.2
10.7
11.8
2011
40.4
10.2 18.8
11.4
11.6
2012
40.5
9.7
19.2
11.6
12.1
2013
42.7
10.3 20.9
11.5
12
2014
45.8
10.8 22.2
12.8
13
2015
47.1
10.9 22.8
13.4
12.9
2016 1/
48.7
11.5 23.3
13.9
12.5
2017 1/
48.3
11.6 22.6
14.1
10.6
1/ Preliminary forecast by the Korea Rural Economic Institute (KREI)
Source: Ministry of Agriculture, Food and Rural Affairs (MAFRA)
PRICE TABLES
Korea: Year Average Broiler Prices
(Korean Won/Kg, boneless basis)
Year
2013
2014
2015
2016 2017 1/
Farm Price
1,839 1,574 1,486 1,514
1,916
Wholesale Price 3,412 3,108 2,941 2,864
3,451
Consumer Price 5,971 5,615 5,254 5,364
5,498
1/ Average price, January through June 2017
Source: National Agricultural Cooperative Federation
5
100
-
Korea: Farm Price for Chicken Meat
Chicken Meat, Farm Price
Commodity
Unit: Korean Won per Kilogram
Year
2015
2016
2017 % Change comparing to previous year
Month
Jan.
1,643 1,499 1,276
-14.9
Feb.
1,745 1,342 2,007
49.6
Mar.
1,790 1,373 2,041
48.7
Apr.
1,785 1,238 2,008
62.2
May
1,484 1,257 2,471
96.6
Jun.
1,379 1,535 1,666
8.5
Jul.
1,412 1,545 1,630
5.5
Aug.
1,213 1,814
49.5
Sep.
1,118 1,628
45.6
Oct.
1,415 2,018
42.6
Nov.
1,334 1,588
19.0
Dec.
1,518 1,329
-12.5
Source: National Agricultural Cooperative Federation (NACF) and Agricultural & Fishery Marketing Corporation
Korea: Wholesale Price for Chicken Meat
Chicken Meat, Wholesale Price
Commodity
Unit: Korean Won per Kilogram
Year
2015
2016
2017 % Change comparing to previous year
Month
Jan.
3,306 2,826 2,635
-6.8
Feb.
3,362 2,643 3,614
36.7
Mar.
3,409 2,677 3,646
36.2
Apr.
3,353 2,487 3,547
42.6
May
2,968 2,500 4,126
65.0
Jun.
2,870 2,930 3,138
7.1
Jul.
2,868 2,926 3,044
4.0
Aug.
2,626 3,225
22.8
Sep.
2,481 2,947
18.8
Oct.
2,649 3,644
37.6
Nov.
2,545 3,048
19.8
Dec.
2,849 2,512
-11.8
Source: National Agricultural Cooperative Federation (NACF) and Agricultural & Fishery Marketing Corporation
Korea: Consumer Price for Chicken Meat
Commodity
Chicken Meat, Consumer Price
Unit: Korean Won per Kilogram
Year
2015
2016
2017 % Change comparing to previous year
Month
Jan.
5,511 5,265 5,062
-3.9
Feb.
5,115 5,107 5,323
4.2
Mar.
5,486 5,545 5,577
0.6
Apr.
5,386 5,308 5,510
3.8
May
5,318 5,220 5,830
11.7
Jun.
5,338 5,529 5,683
2.8
Jul.
5,338 5,436 5,290
-2.7
Aug.
5,196 5,337
2.7
Sep.
5,185 5,056
-2.5
Oct.
4,965 5,716
15.1
Nov.
5,056 5,579
10.3
Dec.
5,150 5,266
2.3
Source: National Agricultural Cooperative Federation and Agricultural & Fishery Marketing Corporation
Korea: Monthly Average Foreign Exchange Rate
(Unit: Korean Won / 1U$)
Month
2015
2016
Jan.
1088.86 1201.67
Feb.
1098.40 1217.35
Mar.
1112.57 1188.21
Apr.
1088.66 1147.51
May
1091.27 1171.51
Jun.
1112.20 1170.50
Jul.
1143.22 1144.09
Aug.
1179.10 1111.68
Sep.
1184.76 1107.49
Oct.
1148.18 1125.28
Nov.
1151.97 1161.64
Dec.
1172.24 1182.28
Source: Industrial Bank of Korea
2017
1185.10
1144.92
1134.77
1132.73
1125.28
1130.04
1134.40
-
TRADE MATRIX
Korea: Import Matrix for Chicken Meat 1/
Import Trade Matrix
Country: Korea
Commodity: Chicken Meat
Imports for
Country
U.S.
Others
Thailand
P.R.C.
Sweden
Denmark
France
U.K.
Chile
Japan
Brazil
Australia
Other
CY 2015
Unit: MT & U$1,000, RTC Basis
Jan.-Jun.
CY 2016
2016
Vol
Val
Vol
Val
7,110
8,441
934
1,272
Jan.-Jun.
2017
Vol
Val
9,559
10,251
Vol
10,752
Val
15,542
15,469
3,089
1,412
7,208
0
0
117
0
80,134
231
67,227
12,125
1,977
14,400
0
0
260
0
185,287
505
15,371
3,468
1,656
6,357
0
0
0
0
93,553
560
62,083
12,779
2,052
11,009
0
1
0
0
167,885
1,265
6,256
1,824
0
3,084
0
0
0
0
46,393
292
25,494
6,771
0
5,509
0
0
0
0
84,622
613
10,353
1,852
285
1,393
0
22
0
0
39,286
242
40,073
6,447
323
2,192
1
27
0
0
74,478
511
188
427
261
616
856
1,209
229
429
Total for Others 107,848 282,208 121,226 257,690 58,705 124,218 53,662 124,481
Grand Total
118,600 297,750 128,336 266,131 59,639 125,490 63,221 134,732
1/ HS 0207.1X.XXXX plus HS 1602.32.XXXX
Source: Korea Customs Service
27
Korea: Export Matrix for Chicken Meat 1/
Export Trade Matrix
Country: Korea
Commodity: Chicken Meat
Unit: MT & U$1,000, RTC Basis
Jan.-Jun.
Jan.-Jun.
CY 2015
CY 2016
Imports for
2016
2017
Country
Vol
Val
Vol
Val
Vol
Val
Vol
Val
U.S.
570
3,378
493
2,889
205
1,212
306 1,809
Others
Hong Kong
333
1,,06
3,027
4,712
1,579
2,323
147
579
Japan
888
3,503
893
3,801
329
1,441
369 1,570
P.R.C.
9
50
195
863
21
121
21
97
Taiwan
332
1,365
477
1,854
213
807
153
579
Thailand
3
12
1
5
0
0
0
0
Vietnam
Iraq
Turkey
Australia
Russia
24,041
1
0
28
0
30,929
21
0
134
0
21,980
1
0
41
0
21,788
19
0
197
0
12,383
0
0
20
0
12,825
0
0
95
0
139
0
0
31
0
173
1
0
141
0
198
1010
196
1,007
78
425
90
507
Total for Others 25,833 38,330 26,811
Grand Total
26,403 41,708 27,304
1/ HS 0207.1X.XXXX plus HS 1602.32.XXXX
Source: Korea Customs Service
34,246
37,135
14,623
14,828
18,037
19,249
950
1,256
3,647
5,456
Other