Pork imports to South Korea will recover in the second half of 2021

SOUTH KOREA reduced pork imports by 5% in the first 4 months of the year, but demand is expected to pick up due to a variety of factors. Imports reached 148,000 tons, with major suppliers such as Spain, Denmark and the Netherlands gaining market share after a ban on German pork was introduced last year. US pork exports to South Korea fell 18% from the same period last year.

The USDA forecasts a 3% decline in domestic hog production as many farmers eliminated their sows in the second half of 2020. At the same time, the USDA expects South Korean pork imports to grow by 16% by the end of the year.

This is partly due to lower production, but also likely due to an expected rise in out-of-home consumption in 2021 as covid-19 restrictions ease . At the same time, ASF cases may be resurgent on commercial farms, with the industry reporting another outbreak at a pig farm in Gangwon Province. This is the first case of ASF in South Korean domestic pigs in the past 7 months.