South Korean soybean imports are expected to be 1.6 million tons

OA show ('918 '); [estimated soybean import volume in South Korea is 1.6 million tons] according to the agricultural counselor of the U.S Department of agriculture, the South Korean government continues to encourage domestic soybean production through the loan subsidy program this year, but domestic farmers remain skeptical of the government's behavior, because the protection price provided by the government is usually far lower than the market price at harvest time Soybean production remained between 110000 and 120000 tons, despite the recent increase in demand for soybeans in the food processing industry 80% of the imported soybeans are processed into soybean meal and soybean oil Squeezing is one of the main factors for the increase of soybean import With the growth of the national economy, the crushing industry has recovered from the level before the economic crisis In order to meet domestic demand, South Korea's total soybean import in 2001 is expected to be 1.6 million tons, including 300000 tons of edible soybeans The United States is expected to be a major supplier, with South American soybeans putting pressure on the United States in terms of crushing because of their higher protein and oil content In addition, soybean production in China and Canada will also put pressure on the United States due to the genetically modified problem In the 2001 / 02 sales year, soybean imports are expected to remain unchanged from the current year, due to slower economic growth and lower demand for feed soybean meal South Korea's mixed feed production remained stable at 15 million tons China feed industry information network 9um (author:)