South Korea: Dairy and Products Annual
In 2013, $55 billion in local dairy product sales was two-percent higher than 2012. Domestic raw milk production was 0.8 percent less however, total raw milk consumption increased by 6.6 percent, which was satisfied by a 12.2 percent increase in imports. Drinking milk products by value grew 6% in 2013 to reach $4 billion. New government price controls edged average drinking milk prices higher in 2013. The value of drinking milk products are expected to increase at a rate of 3% between 2013 and 2018, at constant 2013 prices. The local raw milk price jumped13 percent to $1.1 per liter since August, 2013, recording the highest raw milk price in the world. Cheese sales increased by 11% in current value terms to reach $449 million in 2013. Unprocessed cheese sales increased by 15% in 2013, contributing 33% of overall value sales of cheese in the year.
