March 23, 2007

South Korean beef imports remain strong, cattle slaughter up in 2006
 

South Korean beef imports in February posted a 54 percent increase or up 19,748 tonnes slaughterweight (swt), up 54 percent on the same period last year, according to figures released by the Korean International Trade Association.

The imports were largely made up by Australian beef comprising 79 percent of total beef imported in February at 15,542 tonnes swt, which is almost double the volume shipped in February 2006. Australian chilled and frozen imports to South Korea also increased by 85 percent at 2,458 tonnes swt and 81 percent to 13,084 tonnes swt, respectively.

South Korea also imported beef from New Zealand (20 percent) and other suppliers (1 percent).

On the other hand, total Korean cattle slaughter in 2006 was up 3 percent compared with 2005 to 630,424 head, according to figures released by the Korean Ministry of Agriculture and Forestry.

Male and female slaughter was up by 1 percent and 6 percent to 356,984 and 273,440 heads, respectively. The main rise was in Hanwoo cattle, Korea's unique meat cattle breed, with slaughter in 2006 9 percent up from 2005 levels, at 425,468 head.

The increase was driven predominantly by a 16 percent increase in female Hanwoo slaughter to 167,256 head.

In contrast, slaughter of other beef breeds fell 8 percent to 126,533 cattle, and dairy cattle fell 5 percent or 78,167 head.

Korean cattle slaughter have tremendously soared in 1997 and 1998 during the height of Asian economic crisis due to massive herd slaughter brought about by lower demand and high feed costs. It also fell in 2000 due import beef market liberalisation.

With herd numbers in decline, Korean cattle slaughter and production spiralled down between 1999 and 2003. Record cattle prices, due to lower supplies, rising demand and the absence of US beef has seen cattle slaughter increase slowly over the last thee years.