Price Expectations Affect Korean Wholesale Market

AUSTRALIA - Enquiries for frozen Australian beef products in the Korean wholesale market remain low, as the return of bone-in US beef products have Korean buyers expecting the price of Australian beef products to come down, according to Meat and Livestock Australia.
calendar icon 4 August 2008
clock icon 1 minute read
Meat & Livestock Australia

Anticipation of lower Australian prices has seen Korean importers delay forward buying for Chuseok (in mid September). Beef is currently scarce in the Korean market, with the foodservice sector, in particular, having difficulties in attaining beef items from local suppliers.

Demand for chilled Australian product remains steady, despite sluggish Korean beef consumption.

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