South Korea’s orange imports will increase this year, a new USDA report says.
“Korea’s imported orange consumption in the marketing year 2023-24 is forecast to increase by 5.7% to 92,000 metric tons from the previous year, helped by the decrease in domestic fruit supply and a recovery in the supply of U.S. navel oranges,” the report said.
Korea’s total citrus production is forecast at 570,000 metric tons, down 2.1% from the previous marketing year, according to the report. The lower output is driven by lower yield for open-field tangerines and a slight reduction in planted area, the report said.
“As the prices of other domestic and imported fruits rise, consumption of relatively cheap citrus — both imported and domestic — is expected to remain strong,” the report said.
In the 12 months from November 2022 through October 2023, U.S. exports of oranges to South Korea were valued at $135.7 million, about steady with the previous year. The U.S. shipped 67,000 metric tons of oranges to South Korea in the November 2022 to October 2023 period, down from 79,000 metric tons for the same period the previous year.
