Korea imported more than 505 thousand tonnes of DDGS (dried distillers grains with solubles) in 2012, 469 thousand tonnes were from the US, said the US Grains Council recently.
Despite higher than normal US market prices this year, Korea was a loyal customer to the US. In December 2012 alone, a total of 37,000 tonnes of US DDGS, cleared local customs in Korea, up 32,000 tonnes in 2011. Even as global competition increases, US DDGS exports to Korea continue to remain strong, now at a 93% market share.
Korea also increased its production of mixed feeds in 2012, producing 18,480 tonnes, an 11% year-on-year increase and its largest ever. In turn, swine feed production has increased, up 27%, thanks to the rapid recovery of the hog population from the formidable inventory loss due to the foot-and-mouth disease outbreak in early 2011.
Source: US Grains Council
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