After the strong prices registered last week for some Australian beef cuts in the South Korean wholesale market, some cuts dropped in value this week.

As Australian beef exports are on the rise, numerous Korean traders expect prices to fall after recent product shortages.

Australian beef exports to Korea from March 1–22 this year totalled 7,558 tonnes swt, with chilled beef accounting for almost 33%, indicating a strong month for Australia's exporters.

While restricted bank lending and pressure for debt payments may still affect some Korean beef importers, rising domestic consumption and fixed capital investment has encouraged investment bank Merrill Lynch to forecast Korea's economic growth at 6.2% this year.