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S.KOREA'S AGRICULTURE DEFICIT COULD HIT US$10 BLN THIS YR: GOV'T.

AsiaPulse News

| August 01, 2007 | COPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SEOUL, Aug 1 Asia Pulse - South Korea's agriculture-sector deficit could hit a record US$10 billion this year fueled by a rise in international grain prices and high domestic demand, the government said Wednesday.

The Ministry of Agriculture and Forestry said the country's trade deficit surged 29.1 per cent year-on-year to $5.43 billion in the first half.

The country's agricultural exports grew 9.5 per cent in the six-month period to $1.10 billion while imports expanded 25.3 per cent to $6.53 billion.

"At this pace, the trade deficit could surpass $10 billion by the year's end," a ministry source said. He added local demand for cheaper and wider varieties of agricultural goods were mainly responsible for the ...

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Source: HighBeam Research, S.KOREA'S AGRICULTURE DEFICIT COULD HIT US$10 BLN THIS YR: GOV'T.

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