Australian Beef Exports To Korea Fall
AUSTRALIA - Australian beef and veal exports to Korea totalled 115,482 tonnes swt in 2009, down nine per cent on 2008. The fall in volume was mainly registered in the first half of the year due to high stocks and lack of credit among Korean buyers.
11 January 2010
1 minute read
During the second half of 2009, volumes increased four per cent compared with the same period in 2008 as an early economic recovery led to improved beef demand in retail and stock clearance. A noticeable change in the market was consumers’ shift from grainfed to chilled grassfed products, as this segment experienced continuous expansion throughout the year.
According to Meat and Livestock Australia, chilled grassfed beef exports grew 34 per cent, while chilled grain, frozen grass and frozen grain volumes fell with 12 per cent, 13 per cent and 16 per cent, respectively. It was a difficult year for the high end and family restaurant foodservice sector in Korea with reduced consumer spending on eating out that resulted in lower demand for high value cuts.
The top five Australian cuts destined for the Korean market remained unchanged when compared with 2008, with chuck roll (22 per cent), blade (15 per cent), short ribs (12 per cent), brisket (nine per cent) and manufacturing (eight per cent) making up 67 per cent of total exports.
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