Domestic wholesale price drops 8.4% when U.S. potatoes are imported duty-free

If American potatoes are imported into Korea duty-free this year, the domestic potato wholesale price is expected to drop by 8.4% in 2039, 14 years later, compared to when it was not. It is predicted that the farmer’s receipt price will decrease by 6.1% and the production amount will decrease by 9.0%. On the 20th, the Korean Society of Food Distribution held the ‘2024 Winter Academic Conference’ at the Jeonju Rural Development Administration International Conference Hall in Jeonbuk Province. The research team from the Department of Agricultural Economics at Chonnam National University presented the results of a prediction of the impact that will occur when American potatoes are imported duty-free starting in 2025 through a presentation titled ‘The Impact of Changes in Import Conditions for American Potatoes on the Domestic Potato Market.’ They predicted that the import volume of American potatoes in 2039 will increase by 55.6% compared to the baseline forecast (63,100 tons), ...