Korea and US Technical Talks to Resume

AUSTRALIA - Negotiations between the Korean Ministry of Agriculture and US officials on the beef import protocols, which have been stalled since October last year, will recommence in Korea on 11 April. The US is demanding the market be opened to bone-in beef with no age restrictions.
calendar icon 14 April 2008
clock icon 1 minute read
Meat & Livestock Australia

The Korean wholesale market was mostly firm this week. Prices for some boneless items, including chuck and blade, rump, inside and clod increased as a result of the news that Russia is taking large volumes of the offering from Australia. These items are normally used for bulgogi in Korea (finely sliced, marinated beef) and concerns amongst large importers over lack of contracts for the coming months are growing.

Export enquiry was steady this week, however large volumes of frozen grassfed cuts which are typically bought by Korea are being directed to the Russian market. This has included mainly clods and chuck and blade which is reducing available product and pushing up prices for Korean buyers. Demand was still good for bone-in items.

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