South Korea: Poultry and Products Annual
Link to report:
Post forecasts a rebound in Korean poultry production for 2024, surmounting 2023 supply challenges to meet rising consumer demand for chicken meat. Post has revised the 2023 production estimate down to 930,000 MT and forecasts 2024 production will increase to 945,000 MT. Since lifting COVID-19 restrictions in late 2022, Korea’s chicken demand has increased as social activities resumed and restaurants reopened. However, domestic chicken production in 2023 was hampered by decreased parental stock broiler productivity and high production costs. At the end of 2023, Korea is expected to end its recent import policy of increasing chicken tariff rate quotas to fill the chicken supply shortfall and stabilize food prices.
