Free Trade, Relationships Key To Market Competitiveness In South Korea

Recent events in foreign policy and the ongoing conversation about the value of U.S. trade agreements have put a spotlight on South Korea as a close U.S. ally and an important customer for U.S. products, including grains. 

South Korea is now the fifth largest market for U.S. agricultural exports, totaling $6.2 billion in purchases in 2016. The country was the fourth largest importer of both U.S. corn and distiller's dried grains with solubles (DDGS) as well as the seventh largest importer of U.S. barley in the 2015/2016 marketing year. 

2016/2017 Exports of Feed Grains In All Forms Up 33 Percent Year-On-Year

2016/2017 Exports of Feed Grains In All Forms Up 33 Percent Year-On-Year

U.S. exports of feed grains in all forms increased 33 percent year-over-year in the first six months of the 2016/2017 marketing year, according to recently published trade data from the U.S. Department of Agriculture (USDA) and analysis by the U.S. Grains Council (USGC).

That data showed the United States exported more than 56.6 million metric tons of feed grains in all forms - a calculation that measures grain products in corn equivalent - from September 2016 to February 2017, compared to 42.5 million tons during the same time the prior marketing year.

Saudi Arabia Ramps Up U.S. DDGS Purchases

A recent sale of U.S. distiller’s dried grains with solubles (DDGS) to Saudi Arabia is an example of an increasingly diverse number of markets interested in the feed product and the impact of sustained market development in areas showing potential for long-term growth. 

Last month, Saudi buyers purchased 18,000 metric tons of U.S. DDGS, a relatively large amount and a dramatic increase from total sales of just 8,400 metric tons in 2014. 

USCG MAP-Funded Technical Assistance Increases Demand for DDGS in Peru

USGC’s  Memorandum of Understanding (MOU) – effective Nov. 1, 2013 – with Gloria, the largest and most progressive milk processor in Peru, will help Gloria overcome the major logistical bottleneck to expanding U.S. distiller's dried grains with solubles (DDGS) use in Peru's dairy industry.  Through participation in Council’s MAP and FMD-funded technical assistance and feeding trials, Gloria determined that their dairies could benefit tremendously from incorporating DDGS in rations and they began importing DDGS in 2012.

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