VIRGINIA AG PRODUCERS INVITED TO PARTICIPATE IN SOUTH KOREAN REVERSE TRADE MISSION

News Date June 03, 2009

The global export market is expanding dramatically despite a worldwide recession, and many Virginia companies are marketing their agricultural products overseas with great success. The Virginia Department of Agriculture and Consumer Services (VDACS) offers producers the opportunity to introduce their products to South Korea through a series of reverse trade missions June 22 – 30, 2009.

Suppliers of high-value food products will have an opportunity to meet one-one-one with a delegation of South Korean retail and food service buyers in Atlanta, Georgia June 23 and in Baltimore, Maryland June 25. The mission will culminate with two days at the Summer Fancy Food Show in New York City June 28 - 30, where exhibitors may schedule appointments with the delegation.

In 2008, total U.S. agricultural exports to South Korea reached a record high of $6 billion, representing an almost 50 percent increase from 2007 and expanding the U.S. share of the South Korean marketplace from 20 to 29 percent. Despite its vulnerability to the ongoing global recession, South Korean will remain among America’s top ten trading partners.

The greater relative decline of the won versus the Euro rather than the dollar, and food safety scares in China have created new openings for alternate suppliers. Best candidates for export to South Korea are dairy products, poultry and pork products, snack food, beverages and juices, candy and confections, pastries, pasta and sauce preparations.

"In 2008, Virginia exported nearly $15 million of food products to South Korea," said VDACS’ Commissioner Todd P. Haymore. "The primary categories were meats, soybeans and seafood. This reverse trade mission is an opportunity to build on last year’s success and increase our agricultural exports to South Korea. I encourage producers of these best candidate items to call and schedule a meeting."

Producers interested in taking advantage of this opportunity to introduce their products to key buyers in South Korea should contact Keith Long in VDACS’ Office of International Marketing. Call 804/371-8990 or e-mail keith.long@vdacs.virginia.gov. For information on additional domestic and international trade events, go to the VDACS Web site at: http://www.vdacs.virginia.gov/news/t-events.shtml (Contact: .Elaine J. Lidholm at 804-786-7686)