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USDA Foreign Agricultural Service

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(-) Soybean Meal
(-) South Korea
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March 21, 2024

Attaché Report (GAIN)

South Korea: Oilseeds and Products Annual

Breaking with historical practice, Korean soybean crushers began operating below full capacity in mid-2023 and are forecast to further reduce crush volume into marketing year (MY) 2024/25. Soybean imports are forecast to recover slightly from MY 2023/24, but will still remain below average levels on sluggish crushing demand.

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