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South Korea Agribusiness Report Q2 2016

South Korea Agribusiness Report Q2 2016

BMI View: We hold a modestly subdued outlook for the South Korean agricultural sector. The livestockindustry has been plagued with various disease outbreaks in the past that have largely been contained.

Government-led efforts will benefit the industry over the longer term and help it to remain relevant. Theseinclude the expansion of education and financial support for farmers to allow them entry into the foodprocessing business; plans to modernise traditional methods of food production; the creation of newagricultural food districts for exporters; and the introduction of state designation of food exportingcompanies.

Key Forecasts

Cheese consumption growth to 2020: 22.8% to 153,500 tonnes. As Western food has become morepopular in Korea, demand for cheese has expanded rapidly. The majority of cheese is consumed inrestaurants and fast food outlets, and comes in the form of processed cheese. Exporters with the lowestprices, such as the US, have gained a market share in supplying the South Korean cheese industry.

Rice consumption growth to 2020: 2.7% to 4.6mn tonnes. As South Koreans substitute rice with breadfor their carbohydrate intake, consumption of the grain is expected to post only weak growth.

BMI universe agribusiness market value: USD34.03bn in 2016 (up 2.2% compared with 2015, growthforecast to average 1.8% annually between 2016 and 2020).

2016 real GDP growth: 2.8% (up from 2.4% expected in 2015, forecast to average 3.3% between 2016and 2020).

2016 consumer price inflation: 1.5% y-o-y ave (up from 1.0% expected in 2015, forecast to average2.1% between 2016 and 2020).

2016 central bank policy rate: 1.25% y-o-y eop (down 25 basis points from 2015, forecast to rise 25basis points a year to 2.25% by 2020).


BMI Industry View
SWOT
Agribusiness
Industry Forecast
Rice Outlook
Table: South Korea
Rice Production & Consumption Outlook
Table: Risks To Outlook
Table: Rice Production & Consumption (South Korea 2013
2020)
Grains Outlook
Table: South Korea
Grains Production & Consumption Outlook
Table: Risks To Outlook
Table: Grains Production & Consumption (South Korea 2013
2020)
Livestock Outlook
Table: South Korea
Livestock Production & Consumption Outlook
Table: Risks To Outlook
Table: Livestock Production & Consumption (South Korea 2013
2020)
Dairy Outlook
Table: South Korea Dairy Production & Consumption Outlook
Table: Risks to Outlook
Table: Dairy Production & Consumption (South Korea 2013
2020)
Commodities Forecast
Global Commodities Strategy
Table: Select Commodities
Performance And BMI Forecasts
Upstream Analysis
Asia GM Outlook
Table: Selected Countries
GM Crops Use (mn hectares)
Asia Machinery Outlook
Table: Select Countries
Average Size Of Farms, Hectares
Asia Fertiliser Outlook
Downstream Analysis
Food
Latest Updates
Structural Trends
Table: Food Consumption Indicators
Historical Data & Forecasts (South Korea 20122019)
Table: Confectionery Value/Volume Sales, Production & Trade
Historical Data & Forecasts (South Korea 20122019)
Table: Meat Volume Sales, Production & Trade
Historical Data & Forecast (South Korea 20142019)
Table: Preserved Fish (Other) Volume Sales, Production & Trade
Historical Data & Forecast (South Korea 20122019)
Table: Oils and Fats Volume Sales, Production & Trade
Historical Data & Forecast (South Korea 20122019)
Table: Dairy Volume Sales, Production & Trade
Historical Data & Forecast (South Korea 20122019)
Regional Overview
Table: Impact Of El Niño On Crops
Demographic Forecast
Demographic Outlook
Table: Population Headline Indicators (South Korea 1990
2025)
Table: Key Population Ratios (South Korea 1990
2025)
Table: Urban/Rural Population & Life Expectancy (South Korea 1990
2025)
Table: Population By Age Group (South Korea 1990
2025)
Table: Population By Age Group % (South Korea 1990
2025)
Methodology
Industry Forecast Methodology
SectorSpecific Methodology

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