Korea's Ag Ministry Pulls Back on Pork Belly TRQ

A Lastest News about Agriculture and Animal Husbandry in South Korea

Posted on: 21 Apr 2012

On April 2, 2012, the Ministry for Food, Agriculture, Forestry & Fisheries (MIFAFF) announced that it would limit the initial 70,000 MT duty free tariff rate quota (TRQ) for fresh/frozen pork bellies.

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Voluntary Public - Date: 4/5/2012 GAIN Report Number: KS1227 Korea - Republic of Post: Seoul Korea's Ag Ministry Pulls Back on Pork Belly TRQ Report Categories: Agricultural Situation Livestock and Products Trade Policy Monitoring Approved By: M. Kathryn Ting, Minister-Counselor Prepared By: YongKeun Ban / Michael G. Francom Report Highlights: On April 2, 2012, the Ministry for Food, Agriculture, Forestry & Fisheries (MIFAFF) announced that it would limit the initial 70,000 MT duty free tariff rate quota (TRQ) for fresh/frozen pork bellies announced for the period April-June to 20,000 MT. (See KS1223 for background on initial TRQ announcement.) MIFAFF still has the option of using the remaining 50,000 MT depending on the future market situation. This announcement was made after MIFAFF reached a deal with the local swine industry who had threatened to halt pork sales unless the quota was scrapped. This report contains the summary table of the duty free pork TRQs announced over the last year. Duty Free Quota Announcements on Imported Pork 1 Effective Must be imported Da Product HS Number Quota te by Frozen pork bellies 0203.29.1000 10,000 Jan 28, 2011 Frozen pork for processing 0203.29.9000 50,000 Mar Jun. 30, 2011 7, 2011 Frozen pork bellies 0203.29.1000 50,000 2 May 11, 2011 Other chilled pork 0203.19.0000 20,000 Jun 27, 2011 Pork 0203 130,000 Dec. 31, 2011 Aug 11, 2011 Chilled pork for processing 0203.19 unlimited Sep. 30, 2011 Chilled/Frozen 0203.19.1000 50,000 January 1, 2012 pork bellies 0203.29.1000 Mar. 31, 2012 Frozen pork for processing 0203.29.9000 20,000 Apr Chilled/Frozen 0203.19.1000 il 1, 2012 70,0003 Jun. 30, 2012 pork bellies 0203.29.1000 1. The base rate for chilled pork is 22.5 percent and 25 percent for frozen. 2. The combined quota for frozen pork bellies was 60,000 MT from January to June. 3. 20,000 MT to be used from Apr-Jun. MIFAFF has the option to use remaining 50,000 MT depending on market situation.
Posted: 21 April 2012

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