ANNOUNCEMENT 01 Jul 2014In July 2014, the government of Republic of Korea announced an altered import quota.
NUMBER OF INTERVENTIONS
Ordinance of the Ministry of Strategy and Finance No. 427, http://www.law.go.kr/lsInfoP.do?lsiSeq=156243&ancYd=20140630&ancNo=00427&efYd=20140701&nwJoYnInfo=Y&efGubun=Y&chrClsCd=010202#0000
On 1 July 2014, the Republic of Korea increased the market access quota (MAQ) for barley for brewing (HS 1003.10; 1003.90) and malt (HS 1107.10; 1107.20) by a total of 121'000 tons. This measure is valid from 1 July to the end of 2014.
The MAQ for barley increased from 30'000 to 41'000. For malt, the increase is from 150'000 to 260'000 tons.
According to the ministry, the purpose of these revisions is to ensure that there is sufficient supply of raw materials for the specific industries including paper manufacture and feed industry.