Export value of Australian beef and veal to Korea rose 5% for the March quarter totalling AUD121,512 (US$100,739), amid a 25% drop on-year in the country's global beef exports, said Meat and Livestock Australia (MLA).

Australian exports saw declines in value to major markets such as the US of 52% and Japan of 22%, largely due to lower export volumes and the significantly stronger Australian dollar

However, the Korean market had delivered modest returns. The value of frozen beef dropped 5%, while chilled beef increased 22%. Returns on chilled carcass remained unchanged for the quarter, while the value of chilled bone-in cuts dropped 6% on-year.

The main driver behind the surge of export value to Korea during the March quarter was an increase in Australian boneless beef, which lifted 24% on-year.