KOREA, REPUBLIC OF (3 September)
Typhoon Rammasun in early July 2002 killed 4 people and caused damage to property and infrastructure. This was followed in early August by heavy downpours and thunderstorms flooding roads and submerging houses in central parts of the country, while causing 14 deaths and rendering 2 400 people homeless. Furthermore, on 1 September typhoon Rusa, the most powerful typhoon to hit the Korean peninsula since Sarah in 1959, left a trail of devastation in southern and eastern parts of the country. Extensive damage was caused to roads, bridges and housing, while 124 people were reported dead. The typhoons affected large areas of farmland, but damage was mainly to vegetables and fruit trees, while no major impact on cereal production is expected.
Harvesting of the 2002 paddy crop will start at the end of this month and continue into November. The Government production target is 7.2 million tonnes, 0.3 million tonnes lower than the harvest of 2001. However, despite Government’s efforts to restrict rice production, output has been steadily increasing over the past three years, while consumption has been declining as a result of changing dietary habits. This has led to swelling rice stocks, which are forecast to reach 1.8 million tonnes at the end of October 2002 from 1.44 million tonnes the previous year.
The country produces only about one third of its annual cereal consumption requirement. Cereal imports in the 2001/02 marketing year (October/September) are estimated at 4.0 million tonnes of wheat, 8.5 million tonnes of maize and 0.2 million tonnes of other grains. The early outlook for 2002/03 is for increases in both wheat and coarse grain imports.