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Analyst Insights Explainers Czapp Explains: The South Korean Sugar Industry

April 16, 2021

1 min read

Czapp Explains: The South Korean Sugar Industry

South Korea doesn’t produce any of its own cane or beet sugar; instead, it imports raw sugar to be refined.

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Three refiners operate in South Korea, owned by CJ Corp, Samyang Corp, and TS Corp.

They are protected by a 30% duty on refined sugar imports after the first 100k of annual arrivals.

When the refiners do opt to import hi-pol sugar, they tend to favour Australian supply (over Thailand) due to quality specifications, even though they both incur no duty.

Central American supply also entered duty-free late on in 2019.

For more information on the South Korean sugar market, please subscribe to Czapp Premium.

This Czapp Explainer was Published on the 16th April 2021.

For information on our consultancy offering and other projects, please contact SGeldart@czarnikow.com.

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