Food and Beverage, Government:
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Prepared by the New Zealand Embassy, Seoul
Summary
- The Korean government has temporarily removed all tariffs on imported eggs and processed egg products in response to shortages caused by avian influenza.
- A tariff free quota of 14,500 tonnes for fresh eggs and 35,500 tonnes for processed egg products has been established and will remain in place until 30 June 2021 (unless the quota is filled beforehand).
- Exporters interested in taking up the offer will need to lodge their request for in-quota tariff exemption before the end of February. Contact details are provided below.
Report
The Korean government has unilaterally and temporarily removed all tariffs (duties of 8-30%) on imported eggs and processed egg products in response to shortages caused by the outbreak of avian influenza (H5N8 strain) in the Republic of Korea.
2 Since November 2019, Korea has slaughtered more than 20 million poultry to help contain the outbreak of the virus. As a consequence, the domestic supply of eggs has dropped by 11% and driven egg prices up by more than 20%. The government is seeking to stabilise egg prices ahead of the Lunar New Year holiday (11 – 14 February) when consumption of eggs usually rises.
3 Korea has established a quota for 14,500 tonnes of fresh eggs and 35,500 tonnes of processed egg products for tariff-free entry. This will remain in place until 30 June 2021 (unless the quota is filled beforehand). Importers (and exporters) interested in taking up the offer are being asked to lodge their request for in-quota tariff exemption before the end of February.
4 New Zealand and Korea have an agreed export certificate in place for eggs and processed egg products. Exporters interested in pursuing these opportunities can contact Jim Guo or Nick Oh:
Jim Guo
Second Secretary
New Zealand Embassy, Seoul
T +82 2 3701 7720
M +82 10 9307 7458
E jim.guo@mfat.govt.nz
Nick Oh
Business Development Manager
New Zealand Trade and Enterprise (NZTE)
T +82 10 9972 7903
M +82 10 9084 5210
E nick.oh@nzte.govt.nz
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This information released in this report aligns with the provisions of the Official Information Act 1982. The opinions and analysis expressed in this report are the author’s own and do not necessarily reflect the views or official policy position of the New Zealand Government.
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