S. Korea farm exports to reach US$5 bln this year: official

By Lee Joon-seung
SEOUL, Sept. 13 (Yonhap) -- South Korea's farm exports are expected to reach US$5
billion won this year despite the worldwide economic slump, a senior government
official said Sunday.
Agriculture Minister Chang Tae-pyong told reporters that Seoul had originally
aimed to export $5.3 billion worth of farm goods, fisheries products and
processed foods, up from the record of $4.4 billion shipped out last year.
"Seoul had intentionally tried to set tough goals, yet all estimates with a
little over three months left indicate it may be hard to meet the target," he
said.
Late last month, the government said outbound shipments came to US$2.43 billion
in the first seven months of this year compared with $2.46 billion a year
earlier. It, however, said that export volume rebounded into positive territory
in June and July. Exports to countries like Japan have moved up, along with a
surge in overseas demand for locally made alcoholic beverages.
South Korean exports usually pick up speed toward the end of the year.
"Conditions are tough, but there have been signs that locally produced farm
products are making headway in important markets," he said. He pointed out that
fresh milk exports to China have shot up despite being three times more expensive
than Chinese milk.
The policymaker, meanwhile, said if efforts by progressive lawmakers to give
excess rice to North Korea make headway, the ministry will abide by the changes.
He claimed such measures are insufficient to deal with the excess rice supply and
affect fundamental problems in lack of demand.
The country now has 125,000t of rice in storage, which costs the government large
sums of money to maintain and hurts prices.
"An alternative is to push up the percentage of rice used in processed foods like
noodles, snacks and alcoholic beverages," he stressed.
The minister said Seoul wants to increase rice used in all processed foods and
beverages from the current 6 percent to 10 percent, pushing up consumption to
roughly 200,000t every year.
Japan uses 14 percent of its rice in various processed foods and beverages.
yonngong@yna.co.kr
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