South Korea-Grain imports.

SOUTH KOREA.

GRAIN IMPORTS.

The United States is enjoying the lions share of the lucrative South Korean grain market, today controlling 80% of market share. This is the highest for the last 10 years.

The reasoning’s are two fold, there have been heavy discounts on grain exported from the US, as the Bush administration were strengthening political ties with the nation, as a precaution against North Korea.

Secondly the Bush administration, have been negotiating a free trade agreement with South Korea, in the hope of locking up the beef market for the US beef industry, as opposed to Australia and New Zealand dominance, who have had the market to themselves for the last 5 years.