South Korea Agribusiness Q1 2019
With a small number of revisions to our forecasts for our five-year forecast period in this update, we continue to hold asubdued outlook for the South Korean agricultural sector over our forecast period through to 2022 with our consumption forecastsmarginally more positive on balance. The revisions we have made to our forecasts in this update have been largely positive,however, with both beef and pork production and consumption forecasts for whole milk power seeing notable upward revisions. Acontraction for butter output represents the only exception to this positive trend of quarterly revisions. The livestock industry hasbeen plagued by various disease outbreaks in the past, but these have largely been contained. Government-led efforts will benefitthe industry over the long term and help it to remain relevant. These include the expansion of education and financial support forfarmers to allow them entry into the food processing business, plans to modernise traditional methods of food production, thecreation of new agricultural food districts for exporters, and the introduction of state designation of food exporting companies.
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