July 14, 2009
Grassfed New Zealand beef retains Korea market share
New Zealand beef continues to retain its share in South Korea's beef market despite rising competition from the US.
New Zealand kept its market share of around 19 percent, with volumes of 38,000 tonnes valued at US$181 million last year, according to Meat & Wool NZ Chairman, Mike Petersen.
South Korea is New Zealand's second largest beef market and Meat & Wool NZ and the meat industry have focused on programmes to promote the safety and health attributes of grassfed beef to Korean consumers.
Petersen said it is important to emphasise that New Zealand grassfed beef does not pose a threat to South Korea's domestic beef, and that the leaner grassfed New Zealand beef provides health-conscious consumers with an alternative product.
The biggest challenge the industry faces is continuity of supply which needs addressing if growth in this important market is to continue.
