South Korean potato production continues to decline

South Korea's potato production fell by 9.5% in 2022 to 510,000 tons. Domestic Korean potato production is expected to continue to decline gradually over the coming years, which could open up more opportunities for imported US potatoes, despite an annual tariff quota of 4,000 tons. Korean potato consumption is expected to increase by 2.5% in 2023 due to increased demand for prepared potato products, which traditionally dominate Korean potato imports. Korean imports of potatoes and potato products increased by 17% to 227,000 tonnes, mainly due to strong demand for frozen chips in the food sector. Spring potatoes are planted from February to mid-April and are harvested and traded until the end of July. The acreage for spring potatoes, which accounted for 67.3% of the total production in 2021, is expected to decrease by 4% this year due to lower profitability in the previous year. The production volume and planted area for autumn potatoes are expected to increase by 11.3% and 1.3% ...