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Korean Beef Imports - Highest Since Early 2008

20 October 2009
Meat & Livestock Australia

SOUTH KOREA - In September this year (one month before Chuseok), Korea imported the highest volume of beef since January 2008, totalling 21,750 tonnes swt.

Analysts at Meat and Livestock Australia said that chilled beef products, popular as a give away in sets during this holiday season, rose 58 per cent on the month before and 68 per cent on the same month last year.

Korean imports of Australian and US beef during September increased 10 per cent and 32 per cent, respectively, to 12,212 tonnes swt and 6,972 tonnes swt – the highest since April 2008 for Australia and October 2008 for the US. Interestingly, New Zealand beef imports eased 19 per cent in September on the previous month.

During September, Australia held a 56 per cent market share in the Korean imported beef market, accounting for 84 per cent of chilled items and 50 per cent of frozen items, MLA said.

The share of US beef in Korea rose to 32 per cent (the highest for the year), representing 16 per cent of chilled and 36 per cent of frozen imported beef. New Zealand’s beef import market share was the lowest for the year so far at 11 per cent.

TheCattleSite News Desk



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