Korea's appetite for beef boosts Aussie exports

Korea's anticipated expansion of fastfood chains, including more McDonald's, and menu diversification at Burger King, comes as a big boost for Australian beef.

With both burger chains and the Korean quick service market leader Lotteria using Australian beef for their burgers, news that these stores have big plans in 2010 and beyond is a positive sign for Australian manufacturing beef exports.

Meat and Livestock Australia regional manager in Korea, Jim Lim said the expansion of Korean fastfood chains was certainly good news for Australian beef exports.

Meanwhile, US is running a major campaign in Korea in an attempt to sway some consumers to purchase US beef. The country was spending US$1 million a month on advertising campaigns compared with Australia which had a total annual budget of US$6 million, Lim said.

Koreans have gone from eating an average of 7.5 kilogrammes of beef per year to 8kg between 2008 and 2009.

Long-term opportunities in Korea for Australian beef were not limited to east coast processors, with Harvey Beef and Western Meat Packers among the major West Australian producers to supply the Korean market, according to Lim.