Demand for U.S. Beef Dwindling in Korea
AUSTRALIA - Demand for US beef in Korea is waning following the government's decision to halt quarantine inspections, according to the Korea Herald. The quarantine suspension, which follows a series of problems with US beef imports, shows that the improving sentiment of local consumers regarding US beef is under threat.
16 August 2007
1 minute read
The Korean government has said that sales of US beef have dropped 10% since the freeze on inspections, compared with the first week of availability, according to the Korea Economic Daily. In contrast, sales of Australian beef are benefiting from the ban – surging more than 20% over the same period.
There has been no timetable given for the resumption of inspections, and unless new US beef shipments are released, retailers are expected to run out of US stock within 10 days. It is expected that Australian beef sales will continue to increase, as US stocks are run down.
The slowdown in demand could indicate that consumer curiosity and enthusiasm for US beef has weakened compared with the first days of its availability. The recent discovery of banned bone material and the government’s move to cease inspections has not helped the overall perception of US beef.
TheCattleSite News Desk
