October 21, 2009

South Korea imported a record high volume of beef during September, with purchases amounting 21,750 tonnes swt, including a 68 percent on-year increase in chilled beef imports.

Imports of Australian and US beef during September increased 10 percent and 32 percent, respectively, to 12,212 tonnes swt and 6,972 tonnes swt. These volumes were the highest since April 2008 for Australia and October 2008 for the US.

However, imports of New Zealand beef dropped 19 percent in September compared with August.

During September, Australia held a 56 percent market share in the Korean imported beef market, accounting for 84 percent of chilled items and 50 percent of frozen items.

The share of US beef in South Korea rose to 32 percent, the highest for the year. The figure represents 16 percent of chilled and 36 percent of frozen imported beef.

New Zealand's beef import market share was the lowest for the year so far at 11 percent.