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Korean Beef Imports for July Down 19 Per Cent

23 August 2012
Meat & Livestock Australia

SOUTH KOREA - During July Korea imported 21,442 tonnes swt of beef – up 13 per cent on the previous month but 19 per cent below the corresponding period in 2011. Australian beef made up 51 per cent of Korean beef imports during July, which is consistent with the Australian market share so far in 2012.

In the first seven months this year Korea imported 146,770 tonnes swt of beef, with chilled beef making up 16 per cent of total volume. During the period, Korean beef imports dropped 15 per cent year-on-year with decreased volumes from Australia (down 14 per cent), US (down 14 per cent), New Zealand (down 24 per cent) and Mexico (down 14 per cent). While Korea started importing Canadian beef from March, imports to July only totalled 602 tonnes swt.

In addition to subdued consumer beef demand, a 22 per cent rise in Korean cattle slaughter during the last six months has impacted demand for imported product.

TheCattleSite News Desk


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