Australian beef exporters reported that both Korean beef demand and prices in June were solid.

From June 1 - 22 this year, beef exports from Australia to Korea totalled 8,336 tonnes swt, with chilled beef accounting for 25% of the total.

While beef consumption is usually subdued during summer months (compared with the rest of the year), some Korean beef importers have started to boost their stocks in preparation for Korea's Chuseok (Harvest Festival) celebrations on September 22.

According to market sources, numerous retail chains are currently promoting chicken due to seasonal demand and the current FIFA World Cup held in South Africa. It was reported that large discount stores, including E-mart, Homeplus and Lotte Mart are stocking fried chicken, as demand has soared on days that World Cup matches are held.