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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

USDA-FAS GAIN Report on South Korea

09/13/2020

The FAS-GAIN Report KS 2020-0035 documented the status of the broiler industry in South Korea.  USDA noted a two percent increase in domestic production from 952,000 metric tons in 2019 to 971,000 metric tons in 2020.  An additional one percent expansion to 980,000 metric tons is forecast for 2021.  Per capita consumption based on a population of 52 million will be 46.8 pounds. 

 

In 2019, 76 percent of chicken meat comprised broilers processed at 3.5 lbs. live. About 17 percent of the market comprised samgye birds, a broiler-layer hybrid, processed at 1.9 lbs. live, principally for traditional soup dishes.  Native strains and spent hens comprise the remainder of chicken consumed in the nation. 

 

During 2021 South Korea will import 168,000 metric tons of chicken meat representing 13.8 percent of total supply. Brazil is the principal supplier with 66 percent of the import market, followed by Thailand with 22 percent, and the U.S. at two percent.  Consumption of chicken in South Korea is seasonal, with higher demand through June through August. Approximately 30 percent of white-feathered broilers are consumed through QSRs and 20 percent through catering and other food service establishments.  For conventional broilers, the farm-gate price is $0.37 per pound, live. Wholesale processed broiler meat is $0.92 per pound, and chicken retails at $1.84 per pound representing a high margin depressing consuption.

 


 
Copyright © 2020 Simon M. Shane