South Korea: Barley Market Brief in Korea
Although Korea’s production of barley increased 38 percent in 2018, production and consumption of barley are expected to remain fairly constant over the next few years. Despite its Tariff Rate Quota (TRQ) advantage of zero percent, U.S. exports of barley to Korea have been limited because of its small market with weak price competitiveness. Total imports of U.S. barley have fluctuated in the last few years, ranging from 1,651 MT in Marketing Year (MY) 2016/17 to 3,393 MT in MY 2015/16. Meanwhile Korean imports of malt have grown consistently in the past few years from 37 MT in MY 2015/16 to 2,831 MT in MY 2017/18.
