South Korea: Wheat and corn for food and feed, raw materials were secured by October
Wheat
Maize (Corn)
South Korea
Published May 26, 2022
Tridge summary
In the domestic food and feed industry, it was found that edible wheat is available until late October, corn for feed in mid-October, and soybean for oil extraction by mid-December. In order to establish a stable food supply system, the Ministry of Agriculture, Food and Rural Affairs will soon establish a task force for strengthening mid- and long-term food security (TF) and a ‘food supply chain crisis response team’. On the 25th, the Ministry of Agriculture, Food and Rural Affairs held the ‘3rd International Committee on Supply and Demand for Grains’ presided over by Kwon Jae-han, head of the Food Industry Policy Office. This is to examine the trends in the international grain market, such as the prolonged Ukraine crisis and the recent ban on wheat exports to India, as well as their domestic impact, and to discuss countermeasures. About 10 people from related industries and associations, sugar companies and grain suppliers, Korea Rural Economic Research Institute, and aT (Korea Agro-Fisheries & Food Trade Corporation) attended the event. Although the international grain market situation is currently unstable, the participants agreed that there is no major disruption in the supply and demand of raw materials as they have secured supplies for at least mid-October for edible wheat, soybeans for oil extraction, and corn for feed, including contract quantities.
Original content
In the domestic food and feed industry, it was found that edible wheat is available until late October, corn for feed in mid-October, and soybean for oil extraction by mid-December. In order to establish a stable food supply system, the Ministry of Agriculture, Food and Rural Affairs will soon establish a task force for strengthening mid- and long-term food security (TF) and a ‘food supply chain crisis response team’. On the 25th, the Ministry of Agriculture, Food and Rural Affairs held the ‘3rd International Committee on Supply and Demand for Grains’ presided over by Kwon Jae-han, head of the Food Industry Policy Office. This is to examine the trends in the international grain market, such as the prolonged Ukraine crisis and the recent ban on wheat exports to India, as well as their domestic impact, and to discuss countermeasures. About 10 people from related industries and associations, sugar companies and grain suppliers, Korea Rural Economic Research Institute, and aT ...
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