The situation in Ukraine is getting worse; the South Korean feed grain and starch industry are in an emergency
South Korea
Ukraine
Published Mar 8, 2022
Tridge summary
The world's eyes are on Ukraine. As Russia's invasion of Ukraine escalated day by day. Korea, which is thousands of kilometers away, is no exception. Ukraine is known as the “Bread Basket of Europe” because of its grain production.
Original content
According to the U.S. Department of Agriculture (USDA), in 2021, Ukraine will account for 11.6% of world wheat exports and 16.4% for corn. Both items rank fourth in the world. The agricultural sector that is most anxiously watching the situation in Ukraine is the feed industry. Korea relies on imports for 90% of its feed grain, and imports 10% of its imports from Russia and Ukraine. According to the Ministry of Agriculture, Food and Rural Affairs, the inventory of the domestic feed industry on the 3rd is estimated at 3.5 million tons. Feed wheat can be used until early July and feed corn can be used until early June. If you include the amount contracted to bring into Korea, wheat for feed can last for another three months and corn for another month. However, a significant portion of the contract volume was found to be virtually impossible to bring in, so an emergency was reached. Of the 1.53 million tons of wheat and corn for feed, Ukrainian products account for ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.