South Korea: 2022 Korea Potato Update

Korea’s 2022 potato production decreased by 9.5 percent to 510,000 MT. Domestic Korean potato production is expected to continue gradually declining in the coming years, which may create more opportunities for imported U.S. fresh (chipping and table) potatoes despite an annual tariff rate quota cap of 4,000 metric tons. Korea’s potato consumption is expected to rise by 2.5 percent in 2023 due to increased demand for prepared potato products, which have traditionally dominated Korean potato imports. Korea’s potato and potato product imports increased by 17 percent to 227,000 MT due mainly to strong demand for frozen french fries in the food service sector.