New year’s sweet and supplementary feed industry outlook in South Korea

The feed industry can be seen as having a good year in 2023. As this is the first year in which trade between countries has become more active as the three-year stagnation in human and material exchanges due to COVID-19 has eased, difficulties in supply and demand of feed raw materials have been resolved to some extent, and positive conditions such as exchange rate stability and oil price stability have led to some improvement. It was a year where I was able to catch my breath. However, the future international logistics situation should still be viewed as highly volatile, as grain supply and demand are disrupted due to the ongoing war in Ukraine and the recent conflict between Israel and Arab countries makes use of the Suez Canal difficult. In the case of roughage, which is the main raw material for TMR feed, quotas have been operated (1.2 million tons per year) according to domestic demand in preparation for FTA for several years, and the difficulty of raw material shortage will ...