Slowdown in Korean feed output
Compound feed production in South Korea is projected to level off in 2006/07, after increasing steadily in recent years, according to a recent US Department of Agriculture attaché report.
The slowdown is a result of a drop in cattle and swine inventories, while
poultry production is expected to remain stable.
In the 2005/06
marketing year (Oct to Sept), total compound feed production reached 15.41 mln
tonnes, up 2.3% from 15.06 mln tonnes in 2004/05 and 14.85 mln tonnes in
2003/04. Of this total, 5.18 mln tonnes was accounted for by pig feed, down from
5.24 mln tonnes the previous year. Cattle feed production reached 5.1 mln tonnes
– up from 4.81 mln tonnes in 2004/05, while poultry feed output totalled 4.24
mln tonnes, up from 4.19 mln tonnes the previous year.
Rise in maize use
The report forecasts that the
amount of maize used by South Korean feed producers will rise sharply over the
next few months, in response to the tight availability of feed wheat imports
from traditional markets. The forecast for 2006/07 feed wheat imports has been
lowered to 1 mln tonnes, which is 35% lower than the previous year. In contrast,
the amount of maize used in feed is expected to rise to 7 mln tonnes, up from
6.5 mln tonnes
in 2005/06.
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