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Korea Market For Australian Beef Industry

21 May 2010
Meat & Livestock Australia

AUSTRALIA - In the first quarter this year, the value of Australian beef and veal exports dropped 25 per cent year-on-year, largely due to lower exports and the significantly stronger A$, with declines in export value to major markets like the US (-52 per cent) and Japan (-22 per cent).

However, the export value for the Korean market increased five per cent during that same period, says Meat and Livestock Australia.

Export value of Australian beef and veal to Korea totalled A$121,512 for the March quarter, compared with A$115,470 in 2009. The value of frozen beef dropped five per cent, while chilled beef increased 22 per cent.

Returns on chilled carcase remained unchanged for the quarter, while the value of chilled bone-in cuts dropped six per cent year-on-year. The main driver behind the surge of export value to Korea during the March quarter was an increase in Australian boneless beef, which lifted 24 per cent year-on-year.

TheCattleSite News Desk


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