KOREA, REPUBLIC OF (29 May)
Planting of the paddy crop, the most important cereal crop grown in the country, is underway. The planted area is expected to contract to 1 003 000 hectares for the 2 003 rice crop, down 4.7 percent and 6 percent compared to last year and the average of previous five years, respectively, mainly due to government policy. Starting from 2003, the Korean Government implements a rice area reduction programme which is designed to provide direct payments to farmers who do not cultivate any commercial crop on previously existing rice acreage.
As the world second largest maize importer, just behind Japan, Korea maize import is expected to increase to 9.2 million tonnes in 2003/04 from about 8.6 million tonnes a year earlier to meet domestic feed demand.
Wheat imports in marketing year 2003/04 are forecast at 3.5 million tonnes, 6.7 percent below the previous year.