Wednesday 16 November, 2016
Australia and South Korea are strong economic, political and strategic partners. South Korea is Australia’s fourth largest two-way trading partner.
South Korea is a stable and reliable market for Australian wheat. Australia’s average wheat (milling and feed) exports to South Korea from 2011-15 was 1.4mt, valued at A$430m, making it Australia’s third largest wheat market over this period.
Between 2011 and 2015, South Korea’s total annual milling wheat imports averaged 2.3mt with the US, Australia and Canada being the largest suppliers, accounting for 49 per cent, 43 per cent and 8 per cent of market share, respectively.
South Korea is Australia’s largest market for malt. South Korea is an important market for Australian malting barley. Australia’s malting barley accounts for 95 per cent of South Korea’s total imports.
An in-depth AEGIC report was completed in November 2016 and is available to stakeholders within Australia upon request. Alternatively, a two-page summary fact sheet is available for download below.