| The following GAIN reports were released on November 8, 2024. _______
Grape production in Peru is forecast to reach 790,000 metric tons (MT) in marketing year (MY) 2024/2025, an increase of two percent compared to the previous year. The expected increase is due to improved climatic conditions in northern coastal regions which represents 48 percent of the total production area. Domestic consumption of fresh grapes is forecast at 170,000 MT in MY 2024/2025, a decrease from last year due to higher international prices. Peruvian grape exports are forecast to reach a record of 620,000 MT in MY 2024/2025, a 17 percent increase than the previous year. The United States will continue to be the lead export market. Korea's wine import sector has been undergoing a stabilizing phase since the explosive growth around 2021. In 2023, wine imports reached 506 million USD, down 12.9 percent from the previous year, totaling 56.5 million kg, a decrease of 20.4 percent compared to 2022. Despite the overall decline in imports, convenience stores have experienced double-digit growth in wine sales, largely attributed to the emergence of the consumer-friendly smart order system. As Korean customers' taste and interest in wine evolves, imports are anticipated to rebound. In 2023, the United States maintained its position as the second largest wine supplier to Korea by value for three consecutive years. Rice export prices dropped one percent from the previous week despite the strengthening of the Thai baht. For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/. | 
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