South Korea’s 2022 potato production decreased by 9.5 percent to 510,000 MT. Domestic Korean potato production is expected to continue gradually declining in the coming years, which may create more opportunities for imported U.S. fresh (chipping and table) potatoes despite an annual tariff rate quota cap of 4,000 metric tons. Korea’s potato consumption is expected to rise by 2.5 percent in 2023 due to increased demand for prepared potato products, which have traditionally dominated Korean potato imports. Korea’s potato and potato product imports increased by 17 percent to 227,000 MT due mainly to strong demand for frozen French fries in the food service sector
Spring potatoes are planted from February through the middle of April and are harvested and marketed until the end of July. Planted area for spring potatoes, which accounted for 67.3 percent of total production in 2021, is expected to decrease by four percent this year due to reduced profitability in the previous year. The production volume and planted area for autumn potatoes in 2022 are expected to increase by 11.3 percent and 1.3 percent respectively, following a bump in market prices last year.
Planted area for potatoes produced in high elevation areas, which accounted for 20.9 percent of total production in 2021, is expected to decrease by five percent to 3,690 ha due to labor shortages (limited availability of seasonal foreign workers during the pandemic) and reduced productivity. In 2021, highland potato yields declined due to quality issues with summer heat waves and heavy precipitation from early harvesting.
Click here to read the full report.
Source: apps.fas.usda.gov