July 26, 2010

Korea's beef imports from Australia climb in H1

Korean imports of Australian beef over the January to June period increased 8% on-year, to 65,002 tonnes swt.

Chilled and frozen beef imported from Australia increased 23% and 4%, respectively, this year. Australian beef continues to be dominant in the imported Korean beef market - supplying 78% and 47% of all imported chilled and frozen beef cuts, respectively.

Over the period, total Korean beef imports lifted 21% to 124,668 tonnes swt compared with last year. So far, beef imports have surpassed last year's monthly totals - assisted by subdued domestic cattle slaughter.

Beef imported from the US in the year to date increased 57% on last year to 37,591 tonnes swt. Beef from the US into Korea consists of 90% frozen (mainly barbecue) products. New Zealand volumes increased 17% from January to June, to 20,555 tonnes swt - with frozen beef accounting for 97.5% of total shipments.