Business Monitor International


South Korea Agribusiness Report

Published 10 December 2014

  • 96 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
South Korea Agribusiness Report

BMI View: We believe that any significant changes in the Korean agricultural industry will be mostly public sector-led due to the strong unions behind the industry. Given the widespread changes which the government has been pursuing, we are optimistic about the long-term prospects of South Korea's agricultural sector. Our view is based on the decision to gradually remove barriers to trade such as the KORUS FTA and the recently-inked FTA with China and move up the value chain especially to support its growing food exporting industry. Indeed, we believe that the growing demand for exports from Korea s hould boost domestic agricultural production. Government-led efforts such as the expansion of education and financial support for farmers to allow them entry into the food processing business, plans to modernise the traditional methods of food production, as well as creating new agricultural food districts for exporters and introduc ing state designation of food exporting companies , will benefit the industry over the longer term and help it to remain relevant to the South Korean economy.

Key Forecasts

  • Rice production to 2018: decline of 2.6 % to 3.9mn tonnes. Owing to the government's reduction programme. Specifically, under the Rice Income Compensation Act, rice farmers are provided a subsidy of KRW800,000 (USD731) per hectare to plant other crops on their land in 2014. This subsidy will be raised to KRW1mn in 2015. The ultimate aim is to reduce South Korean rice production to approximately 200,000 tonnes per year. Given the significant decline in production, an adjacent decline in consumption and only moderate stocks mean the country is unlikely to remain self-sufficient over the long term.

  • Poultry production growth to 2017/18: 38 .0% to 952,000 tonnes. This will largely be driven by increasing consumption demands and economies of scale in the industry. That said, poultry production growth will not prevent South Korea from relying increasingly...

Table of Contents

BMI Industry View
7
BMI Industry View
7
SWOT
9
Business Environment
11
Industry Forecast
12
Rice Outlook
12
Table: South Korea Rice Production & Consumption, 2013-2018
13
Table: South Korea Rice Production & Consumption, 2008-2013
14
Grains Outlook
16
Table: South Korea Wheat Production & Consumption, 2013-2018
17
Table: South Korea Corn Production & Consumption, 2013-2018
17
Table: South Korea Wheat Production & Consumption, 2008-2013
18
Table: South Korea Corn Production & Consumption, 2008-2013
18
Dairy Outlook
19
Table: South Korea Milk Production & Consumption, 2013-2018
20
Table: South Korea Butter Production & Consumption, 2013-2018
20
Table: South Korea Cheese Production & Consumption, 2013-2018
20
Table: South Korea Whole Milk Powder Production & Consumption, 2013-2018
20
Table: South Korea Milk Production & Consumption, 2008-2013
22
Table: South Korea Butter Production & Consumption, 2008-2013
22
Table: South Korea Cheese Production & Consumption, 2008-2013
22
Table: South Korea Whole Milk Powder Production & Consumption, 2008-2013
22
Livestock Outlook
24
Table: Korea Poultry Production & Consumption, 2013-2018
25
Table: South Korea Pork Production & Consumption, 2013-2018
25
Table: South Korea Beef & Veal Production & Consumption, 2013-2018
25
Table: South Korea Poultry Production & Consumption, 2008-2013
28
Table: South Korea Pork Production & Consumption, 2008-2013
28
Table: South Korea Beef & Veal Production & Consumption, 2008-2013
28
Commodities Forecast
30
Monthly Grains Strategy
30
Table: Selected Commodities - Performance & BMI Forecasts
37
Monthly Soft Strategy
37
Table: SELECT COMMODITIES - PERFORMANCE & BMI FORECASTS
45
Upstream Analysis
47
Asia Machinery Outlook
47
Table: China Grain Public Production Support Programme (CNYbn)
49
Table: Select Countries - Average Size Of Farms, Hectares
53
Asia GM Outlook
57
Table: Select Countries - GM Crops Use In 2012
63
Asia Fertiliser Outlook
64
Table: India - Fertiliser Subsidies, INR/kg
67
Downstream Analysis
71
Food
71
Food Consumption
71
Table: Food Consumption Indicators - Historical Data & Forecasts (South Korea 2011-2018)
72
Canned Food
73
Confectionery
74
Table: Confectionery Value/Volume Sales, Production & Trade - Historical Data & Forecasts (South Korea 2011-2018)
74
Meat
75
Table: Meat Volume Sales, Production & Trade - Historical Data & Forecast (South Korea 2013-2018)
75
Fish
76
Table: Preserved Fish Volume Sales, Production & Trade - Historical Data & Forecasts, 2011-2018
76
Oils And Fats
77
Table: Oils & Fats Volume Sales, Production & Trade - Historical Data & Forecasts, 2011-2018
77
Drink
80
Hot Drinks
80
Table: Hot Drink Value/Volume Sales, Production & Trade - Historical Data & Forecasts (South Korea 2013-2018)
80
Alcoholic Drinks
81
Table: Alcoholic Drinks Value/Volume Sales, Production & Trade - Historical Data & Forecasts (South Korea 2013-2018)
82
Soft Drinks
83
Table: Soft Drinks Value/Volume Sales, Production & Trade - Historical Data & Forecasts (South Korea 2013-2018)
84
Mass Grocery Retail
85
Table: Mass Grocery Retail Sales By Format - Historical Data & Forecasts (South Korea 2013-2018)
87
Table: Retail Sales By Format
87
Regional Overview
88
Table: Indonesia & Malaysia Palm Oil Refining Capacity & Utilisation Rate
90
Table: Selected Countries - Biofuel Blending Mandates & Programmes
94
Competitive Landscape
96
Table: Main Agribusiness Players
96
Demographic Forecast
97
Table: South Korea's Population By Age Group, 1990-2020 ('000)
98
Table: South Korea's Population By Age Group, 1990-2020 (% of total)
99
Table: South Korea's Key Population Ratios, 1990-2020
100
Table: South Korea's Rural And Urban Population, 1990-2020
100
Methodology
101
Industry Forecast Methodology
101
Sector-Specific Methodology
102

The South Korea Agribusiness Report features Business Monitor International (BMI)'s market assessment and independent forecasts for production, consumption and trade across core agricultural commodities.

BMI's South Korea Agribusiness Report includes independent commodity price forecasting and analysis for key agricultural outputs, an overview of the agribusiness competitive landscape and a discussion of the downstream context of agricultural production in relation to country food consumption forecasts and composite food and beverage trade forecasts.

Key Benefits

  • Use BMI's independent industry forecasts to test other views - a key input for successful planning in dynamic agribusiness markets.
  • Apply BMI's medium-term commodity price analysis to assist with budgetary planning and the identification of investment opportunities and potential risks.
  • Assess the activities and market position of your competitors, partners and clients.

Coverage

BMI Industry View

An analytical summary of BMI's latest key industry forecasts and views, highlighting recent changes and key risks to the industry outlook for agribusiness in South Korea.

Industry SWOT Analysis

At-a-glance perspectives on the Strengths, Weaknesses, Opportunities and Threats facing the agricultural industry.

BMI Supply & Demand Forecasts

Divided into sections based on various diverse sectors in the agriculture market, the chapter provides insight into each market's agricultural industry, centred on sector forecasts to end-2018 for the consumption, production and trade of key agricultural commodities.

Consumption forecasts are accompanied by a discussion of the main drivers of consumption growth: macroeconomic factors, food processing trends, price movements and, increasingly, demand from the non-food sector.

Production forecasts examine the trends influencing BMI's production outlook: global demand, price increases, public and private sector investment and agricultural efficiency improvements.

Trade forecasts are accompanied by a discussion of the factors influencing a country's trade in agricultural goods, including domestic demand, global prices and government trade policies.

BMI's forecasts are accompanied by a Risks- to-Outlook assessment, which examines potential factors that could affect our existing forecast picture and the likelihood of their occurrence.

BMI's Commodity Price Analysis

Fundamental and technical analysis of the short- and medium-term price outlook for key agricultural commodities, based on globally-recognised benchmarks.

Downstream Analysis

Analysis of headline food and drink forecasts, including total food consumption, per capita food consumption and total sector trade, which provide important downstream intelligence for primary agricultural producers.

Featured Analysis

Includes relevant articles from BMI's daily analysis service. These can include long-term projections on agricultural imports and exports, our perceptions of the impacts of economic slowdown on key companies and subsectors within the Agribusiness industry in a given country, our analysis of fertilizer production as well as other relevant analysis of recent news and events on Store and Landing Pages.

Methodology & Sourcing

The South Korea Agribusiness Report is based on an extensive network of multilateral organisations, government departments, industry associations, chambers and company reports.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc