Prices for imported beef cuts in the South Korean wholesale market remained steady this week amid tight supply.

As Australian beef exports to Korea are increasing, an improvement in Korean inventory levels is also expected.

Australian beef exports to Korea from March 1–29 totalled 10,074 tonnes swt, with chilled beef cuts accounting for 32% compared with 25% the same month last year. The improvement in Australia's chilled beef exports has been fuelled by solid retail demand in Korea. The media has reported that the Korean retail industry has enjoyed strong sales this March – consumer traffic and spending is on the rise in both department stores and large discount stores.