South Korea: Determinants of Wheat Import Demand

The Korean wheat import market includes a stable, quality-conscious milling segment of about 2 million tons and a volatile, price-sensitive feed wheat segment. The U.S. share of the milling wheat market was virtually 100 percent until 1983, but has dropped to 80 percent following the termination of a government-mandated import monopoly. The primary reason for the decline is that Australian wheats provide specific and more consistent intrinsic characteristics, such as protein quantity and gluten strength, required for the various noodles, breads, and snacks consumed in Korea. Dockage is not an important determinant of Korean wheat import demand