South Korea: Poultry and Products Annual
Link to report:
Korea’s 2020 chicken production is expected to increase to 971,000 MT (up two percent from 2019) driven by new slaughter plant openings and carry-over capacity from high 2019 parental stock (PS) broiler inventory. In 2021, chicken production is projected to rise only 0.9 percent as low farm-gate prices and uncertain demand continue to weigh on the industry. Despite the number of slaughtered chickens increasing by 3.4 percent during the first six months of 2020, chicken consumption has declined overall due to the COVID-19 pandemic. Korea’s 2020 chicken imports are expected to decrease by ten percent to 160,000 MT due to increased frozen domestic chicken inventory and reduced consumption. In 2021, Korea’s chicken imports are projected to increase by five percent to 168,000 MT due to steady demand for processed chicken products that can be easily consumed at home and the expected extra demand generated during the 2021 Tokyo Olympic games.
