March 30, 2009

Australian beef exports to South Korea totalled 7,433 tonnes swt from March 1-23, with chilled beef accounting for 25 percent of the shipments.

Total exports for March are expected to reach about 10,000 tonnes swt, up 20 percent from February but down 18 percent from March 2008.

A number of South Korean restaurants and medium-/small-sized retailers are reporting of difficulties in purchasing Australian beef as current stock levels are low. Some major retailers are now holding promotions to boost the sales and consumption of US and Australian short rib being sold for about US$1 per 100 grammes.

The summer period starting in June and slow US beef exports may also drive up interest for Australian beef in the next few months.