US Beef Only In Small Volumes In Korea

AUSTRALIA - After last week's hype and controversy surrounding the return of US beef to major Korean supermarkets, new figures from Meat and Livestock Australia have put the re-entry into perspective.
calendar icon 23 July 2007
clock icon 1 minute read
According to MLA, custom cleared imports of US beef in June were 202t, or 1pc of total beef imports for the month, and Australia retains a 75pc market share.

US beef was officially launched in Korea on July 13 under a promotional campaign with the slogan 'US Beef, It's Better'.

The hype ensured the low volumes available sold out quickly, helping support US claims that its product is living up to the slogan.

But MLA says US importers have also aggressively discounted prices to promote the product.

US beef was priced at about half that of local 'Hanwoo' beef, and was around 15-25pc cheaper than Australian beef.

Despite this, MLA reports that the publicity associated with the return of US beef also increased purchases of beef overall, with Lotte Mart reporting Australian beef sales on July 13 up 40pc on a regular Friday trading day.

Source: North Queensland Register
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