| S Korea's agriculture deficit expected to reach $10 bln |
SEOUL, Aug. 1 (Xinhua) -- South Korea's agriculture deficit is expected to hit a record 10 billion U.S. dollars this year due to rise in international grain prices and high domestic demand, said the Ministry of Agriculture and Forestry on Wednesday.
According to the ministry, South Korea's agricultural exports grew 9.5 percent in the first half to 1.1 billion U.S. dollars while imports expanded 25.3 percent to 6.53 billion U.S. dollars.
At this pace, the trade deficit could surpass 10 billion U.S. dollars by the end of this year, said an official of the ministry, adding local demand for cheaper and wider varieties of agricultural goods were mainly responsible for the surge in imports.
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