March 1, 2013

In January, Korea imported 31,041 tonnes swt of beef, an increase of 40% on-year and just 12% below the record January total set in 2003 of 35,140 tonnes swt.

The majority of beef imported for the month was frozen product at 26,889 tonnes swt, making up 87% of total shipments, up from 83% in the corresponding period in 2012.

Assisted by higher production and steady supplies from Australia, beef imports from Australia during January lifted 43% on-year, to 14,986 tonnes swt - the highest monthly volume since January 2008 at 17,928 tonnes swt. Similarly, imports of US beef also increased 43% for January, at 12,794 tonnes swt, partly assisted by a sluggish December.

The beef cut in the highest demand during January remained short ribs, totalling 10,785 tonnes swt, up 19% on-year, of which the US supplied 64%, or 6,881 tonnes swt (quarantine cleared basis, Animal Plant and Fisheries Quarantine and Inspection Agency). The top two Australian cuts for the month were short ribs and chuck roll, increasing 6% on-year at 2,489 tonnes swt and 13% at 2,439 tonnes swt, respectively.