South Korean potato production continues to decline

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% respectively in 2022 after an increase in market prices last year. The high altitude potato area, which accounted for 20.9% of the total production in 2021, is expected to decrease by 5% to 3,690 hectares due to labor shortages ...