Quick hitter - Korean potato imports

As I stand at an email station in the Springhill Suites hotel, I'll pass along a just issued USDA FAS report on potato imports. Find it here. Here is the highlight:



Korea has historically imported fresh potatoes from Australia and to a lesser extent the United States from December to April, when dome stic supplies are tight. However, imports of U.S. fresh potatoes jumped last year to nearly 11,000 metric tons since Australian exportable supplies were limited due to the country’s drought situation. U.S. potato imports are expected to finish the year at a new record of 15,000 metric tons. However, imports of U.S. fresh potatoes in 2009 will likely slide since the U.S. dollar has strengthened in recent months (Sep-Oct), while the Australian dollar has weakened vis-à-vis the Korean won.

Later....

The ratification of the KORUS FTA will provide additional opportunities for U.S. potato products, which is expected to bolster the existing strong U.S. market share. However, these gains might be short-lived as Korea is negotiating FTA’s with both Australia and Canada. Last year, Korea imported 57,000 tons of potatoes and potato products worth $47 million. The United States, the largest supplier, supplied 42,000 metric tons of fresh and frozen potatoes, valued at $36 million.