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S. Korea's Agricultural Exports Tipped to Grow 6.3 PCT
POSTED: 2:05 p.m. EDT, February 26,2007

South Korea aims to export US$2.45 billion worth of agricultural and forestry goods this year, up 6.3 per cent from last year, the Ministry of Agriculture and Forestry said.

The ministry said pork exports are expected to post the largest on-year increase of 25.5 per cent, followed by those of processed foods with 6.9 per cent growth.

Shipments of forestry goods, poultry and vegetables are all likely to grow 4-5 per cent this year.

South Korea has traditionally been a net importer of agricultural products. In 2005 it exported $2.22 billion worth of agricultural, livestock and forestry products, while importing $11.88 billion worth of farm and wood-based goods.

By country, exports to Japan could reach $665 million by the year's end, a gain of 2.1 per cent, with the United States, China and Russia toping the list of foreign markets.

The ministry said this year's efforts will be centered on helping exporters gain access to promising new markets like China, Southeast Asia and Russia, while helping to cut transportation costs that have adversely affected local competitiveness.

The ministry also said enlarging the size and duration of support funds given to agricultural exporters and helping finance participation in overseas exhibitions and fairs could help boost overseas sales.

From:Asia-Pulse
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