March 7, 2006

South Korea to receive US beef in April

South Korea will allow US imports of beef in April, the Ministry of Agriculture and Forestry said Monday, slightly later than earlier predictions that imports will be allowed this month.

Inspections will be made to check butchering and processing facilities to ensure safety, said Lee Yang-ho, the ministry's spokesman.

South Korea banned US beef imports following the discovery of a case of mad cow disease in the United States in late 2003.

The Korean market continues to be impacted by the expected re-entry of US beef, with limited wholesale and importer buying interest.

Short rib prices have fallen 23 percent since the end of January, although prices are still at least 50 percent higher than what they were in 2003. 

Exporters have reported another quiet week for sales, as importers hold back from buying in the uncertain market.

Prior to the discovery of BSE at the end of 2003, the US was the largest supplier of imported beef to the Korean market.