GFM Network News

South Korea Lifts Tariffs On Chilled Pork Imports

SEOUL/REUTERS South Korea, battling to curb inflation while recovering from its worst outbreak of foot-and- mouth, will impose zero tariffs on all imports of chilled pork for food processing through Sept. 30, the Finance Ministry said in a statement Aug. 2. The move was “to ease tight supplies of raw pork due to foot-and-mouth,” the

South Korea May Lift Duties

The South Korean government aims to expand tariff-free food imports to chilled pork and chicken meat and is considering extending duty-free imports of frozen pork to the year-end, a senior Finance Ministry official said. “Policy efforts need to be continued to stabilize prices,” Vice-Finance Minister Yim Jong-yong said at the start of a weekly anti-inflation

South Korea Re-Opens Slaughterhouses

South Korea, battling against its worst foot-and- mouth outbreak, said March 2 it had reopened most slaughterhouses nationwide to ease a supply shortage after closing them to contain the animal disease. The government of Asia’s fourth-largest economy said in a separate statement that it had confirmed 150 cases in 11 provinces in three months so

South Korea Looks To Expand Overseas Grain Farming

South Korea, the world’s fourth-largest grain importer, plans to expand overseas grain production to ensure supply and curb inflation as it faces record-high grain prices. The Finance Ministry said in a statement March 2 that it would form a task force team with the ministries of Agriculture and Foreign Affairs to prepare measures by the

South Korea’s Recovery From Foot-And-Mouth Slow

South Korea’s swine industry could take one or two years to recover from a foot-and-mouth epidemic that has boosted meat purchases by one of the world’s top pork importers. A long-term boost to the country’s pork imports, mainly from the United States, could support U.S. hog futures already at record highs partly on the back

Pakistan Lifts Three-Year Ban On Wheat Exports

Pakistan decided on Dec. 7 to allow the private sector to export wheat, lifting a three-year ban after a bumper crop led to a market surplus. Pakistan, Asia’s third-largest wheat producer, in August deferred earlier plans to export two million tonnes of surplus wheat after summer floods washed away at least 725,000 tonnes of the

Pakistan Floods Destroy Crops, Could Cost Billions – for Sep. 9, 2010

Flood recovery costs for Pakistan’s vital agriculture sector and farmers could be in the billions of dollars, as a farmers’ association said half a million tonnes each of wheat and sugar had been destroyed. Agriculture is the mainstay of Pakistan’s fragile economy, while wheat markets are on edge about crop losses after a drought in

China Adds $10 Bln To Commodity Stockpiling Budget

“The impact of the global financial crisis and many outstanding problems at home have suddenly made it more difficult to keep our economy going strong.” China will spend an extra $10 billion to bulk up its commodity reserves and lift farm support spending by 20 per cent this year, measures that should aid local grain