June 8, 2013

Australia's beef exports to Korea rises 36% in May

During May, Australia's beef and veal exports to Korea registered their second highest monthly volume for May on record, at 12,423 tonnes swt - 36% higher on last year and 25% above the five-year average.

This is according to reports of the Department of Agriculture, Fisheries and Forestry.

Contributing to the increase was reports that Korean traders were starting to prepare for the onset of the barbeque season and Chuseok in September (one of the highest beef consumption periods in Korea), along with higher supplies from Australia.

The increase was largely assisted by stronger demand for frozen beef, at 9,612 tonnes swt (up 57% on-year). Reportedly, continued sluggish retail sales in Korea still impacted on chilled beef exports during May - down 7% on-year, to 2,811 tonnes swt, with a 16% on-year decrease in chilled grass fed beef, at 1,385 tonnes swt. However, underpinned by improved chilled (1,426 tonnes swt) and frozen (990 tonnes swt) grain-fed beef exports, total grain-fed beef exports to Korea also lifted 7% on-year, at 2,416 tonnes swt.

Shipments of chuck roll during May reached their highest volume - up 63% on-year, at 3,764 tonnes swt. Retailers' efforts in promotional campaign reportedly contributed to an increase in rib exports during May, totalling 865 tonnes swt (up 18% on-year), with total rib shipments during the first five months also reaching the new heights, at 3,772 tonnes swt.

Australian offal exports to Korea during May improved 4% on-year, to 2,270 tonnes swt. Increased demand for intestines (up 42% on-year, to 541 tonnes swt) and skirt (up 65%, to 391 tonnes swt) offset a 24% on-year decrease in cheek meat exports (518 tonnes swt). Offal exports to Korea during the first five months of 2013 have maintained record pace, totalling 9,259 tonnes swt (up 2% on-year).