By Byong Ryol Min, U.S. Grains Council Director in Korea

2012 was overall a good year for U.S. distiller’s dried grains with solubles (DDGS) in Korea. On a customs cleared basis, Korea imported more than 505,000 metric tons of DDGS in 2012, of which 469,000 metric tons were from the United States. Despite higher than normal U.S. market prices this year, Korea was a loyal customer to the United States. In December 2012 alone, a total of 37,000 metric tons of U.S. DDGS, cleared local customs in Korea, up from 32,000 tons in December 2011. Even as global competition increases, U.S. DDGS exports to Korea continue to remain strong, now at a 93 percent market share.

Korea also increased its production of mixed feeds in 2012, producing 18,480 metric tons, an 11 percent year-on-year increase and its largest ever. In turn, swine feed production has increased, up 27 percent, thanks to the rapid recovery of the hog population from the formidable inventory loss due to the foot-and-mouth disease outbreak in early 2011. As of December 2012, Korea’s swine inventory is at 9.9 million head, also the largest ever.