South Korea: new report on milk powder trade released
The Netherlands is the largest exporter of milk powder into Korea. Especially, Milk Powder Preparation was the 4th largest commodity, among all kinds of trade commodities including non-agricultural products exported from the Netherlands into Korea in 2019.
Korea is an interesting market for foreign dairy exporters because raw milk prices are very expensive in Korea; it costs more than twice as much as the world average raw milk. In spite of that, foreign final products such as milk and yoghurt have had difficulty in entering the market due to several barriers such as high customs duties and political opposition by farmers. On the other hand, milk powder has largely been imported as an ingredient for local production of dairy, confectionery and bakery products, without remarkable barriers. Imported milk powder has played an important role in lowering costs for food production in Korea.
You can easily find dairy products with milk powder imported from the Netherlands in Korean consumer market.
What is the position of the Netherlands in this market and what are the chances? If you are interested, you can find more information on the below report.