Both Australian beef exporters and Korean traders reported that low beef consumption and currency volatility have affected Korean beef demand recently.

 

Chicken consumption has increased, as high temperatures have caused consumers to choose chicken over other meats, driving up chicken prices.

 

Another factor slowing beef demand is the high volatility of the Korean won against the US dollar - the won has been fluctuating on the euro's movements.

 

However, it was reported that increasing Korean exports, manufacturing, investment and consumer spending should soon begin to pay dividends for the won.