Korean Agricultural Import Trade Patterns Post

KORUS & EU FTA Implementation

American Chamber of Commerce in Korea

Agriculture & Food Committee November 28, 2012

Michael Fay Director, Agricultural Trade Office

American Embassy, Seoul

www.atoseoul.com

Top 10 US Ag export Markets Year of 2011

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5

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15

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25

30

Canada China Mexico Japan Korea South

Taiwan Hong Kong Indonesia Egypt Turkey

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KOREA:TOTAL AGRICULTURAL IMPORTS vs. U.S.EXPORTS 2006 - 2011

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5

10

15

20

25

30

35

2006 2007 2008 2009 2010 2011 2012(est.)

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Total U.S.

KOREA:TOP 10 AGRICULTURAL IMPORTS FROM THE UNITED STATES - 2011

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200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Mill

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Total – Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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1,000

2,000

3,000

4,000

5,000

6,000

7,000

U.S. China E.U. Australia Japan Chile Brazil

Mill

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s

Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 23,311,959,000 22,736,607,000 (-2.5%)

Total - Excluding Corn(HS1005) Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 21,387,098,000 20,821,208,000 (-2.7%)

Chapter 2 – Meat Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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200

400

600

800

1,000

1,200

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 2,703,193,000 2,217,940,000 (-18.0%)

HS 0202 – Beef, Frozen Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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50

100

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300

350

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450

500

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 885,061,000 698,316,000 (-21.1%)

HS 0203 – Pork Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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50

100

150

200

250

300

350

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450

500

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 1,163,667,000 922,675,000 (-20.7%)

Chapter 3 – Seafood Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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200

400

600

800

1,000

1,200

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 2,484,384,000 2,327,666,000 (-6.3%)

HS 0303 – Frozen Fish Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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50

100

150

200

250

300

350

400

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 1,079,117,000 956,328,000 (-11.4%)

Chapter 4 – Dairy Produce Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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20

40

60

80

100

120

140

160

180

200

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 540,310,000 480,248,000 (-11.1%)

HS 0406 – Cheese and Curd Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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20

40

60

80

100

120

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 265,167,000 259,353,000 (-2.2%)

Chapter 8 – Edible Fruit and Nuts Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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100

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600

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 850,264,000 1,082,474,000 (27.3%)

HS 0805 – Citrus Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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50

100

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200

250

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 178,363,000 236,370,000 (32.5%)

HS 0809 – Cherries, Peaches, Apricot Imports from Selected Countries

Jan-Sep 2011 vs. Jan-Sep 2012

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10

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30

40

50

60

70

80

90

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 47,504,000 82,312,000 (73.3%)

Chapter 10 – Cereals Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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500

1,000

1,500

2,000

2,500

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 3,458,971,000 3,384,848,000 (-2.1%)

Chapter 12 – Oilseed Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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100

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600

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 1,107,938,000 1,219,606,000 (10.1%)

Chapter 20 - Preparations of Vegetables, fruit, nuts or other parts of plants Imports from Selected Countries

Jan-Sep 2011 vs. Jan-Sep 2012

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U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 599,245,000 644,588,000 (7.6%)

HS 2009 – Fruit Juices Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 139,954,000 160,375,000 (14.6%)

Chapter 21 – Miscellaneous Edible Preparations Imports from Selected Countries

Jan-Sep 2011 vs. Jan-Sep 2012

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350

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 830,657,000 840,633,000 (1.2%)

HS 2106 – Food Preparations Not Elsewhere Classified Imports from Selected Countries

Jan-Sep 2011 vs. Jan-Sep 2012

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50

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300

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 565,486,000 537,744,000 (-5.0%)

Chapter 22 – Beverages, Spirits and Vinegars Imports from Selected Countries

Jan-Sep 2011 vs. Jan-Sep 2012

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U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 534,337,000 585,888,000 (9.7%)

HS 2203 – Beer Made from Malt Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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25

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 43,770,000 56,041,000 (28.0%)

HS 2204 – Wine Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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70

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 97,001,000 108,622,000 (8.9%)

HS 2208 – Spirits, Liqueurs, Alcohol Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 190,717,000 183,380,000 (-3.9%)

HS 0901 – Coffee Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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120

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 461,761,000 368,177,000 (-20.3%)

HS 1806 – Chocolate & Food Preparation Imports from Selected Countries

Jan-Sep 2011 vs. Jan-Sep 2012

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10

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U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 160,595,000 168,636,000 (5.0%)

HS 1905 – Bread, Pastry, Cakes Imports from Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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45

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Imports: 141,358,000 166,549,000 (17.8%)

Total – Korea Export to Selected Countries Jan-Sep 2011 vs. Jan-Sep 2012

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1,000

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1,800

U.S. China E.U. Australia Japan Chile Brazil

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Jan-Sep 2011

Jan-Sep 2012

Korea Exports: 5,690,486,000 5,923,750,000 (5.6%)

Summary

• No Flood of Cheap Agricultural Products

• Exogenous Factors Affecting Trade

• Many Important Products Already Low Duty

• Individual Products Impact

• Overall impact Viewed Overtime

• FTAs Will benefit Korean Consumers and Food Processing Sector

•