Exports of U.S. farm products to Korea likely to decline next year: report

By Hwang Doo-hyong
WASHINGTON, Dec. 7 (Yonhap) -- Exports of U.S. agricultural products to South
Korea will likely decrease drastically next year due to the global economic
crisis that lowered commodity prices and shored up the value of the greenback, a
report said Sunday.
The report by the U.S. Agriculture Department, posted on its Web site, predicted
US$4.5 billion of shipments to South Korea in fiscal year 2009 ending September,
down 19 percent from $5.56 billion a year earlier.
Shipments of U.S. agricultural goods to South Korea have risen steadily for the
past years totaling $2.19 billion, $2.72 billion and $3.19 billion in 2005, 2006
and 2007, respectively.
The USDA expected total U.S. agricultural product exports will decline to $98.5
billion next year from this year's $115.5 billion.
The U.S. shipped $82.2 billion worth of agricultural products abroad in 2007,
compared with $62.4 billion in 2004, $62.5 billion in 2005 and $68.6 billion in
2006.
hdh@yna.co.kr
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