October 27, 2010

US beef exports to South Korea balloon in Jan-Aug

US beef exports to South Korea surged more than two-fold in the first eight months of this year compared to 2009, a government report showed.

The report by Korean Ministry of Foreign Affairs and Trade, based on data compiled by the USDA, showed US beef imports reached 73,625 tonnes in the cited period, up 131% from 31,882 tonnes in the same period of last year.

The annual import volume should exceed 100,000 tonnes by year's end if the current pace is maintained, it said.

The increase is noteworthy because US beef exports worldwide increased just 16% on-year from January through August, the report said. Exports to neighbouring Japan rose 26% on-year.

South Korea, which banned all US beef imports in late 2003 after a case of mad cow disease was confirmed in Washington State, allowed boneless cuts into the country in April 2007, but again halted quarantine inspections in October of that year after backbones were discovered among the imports.

After long-drawn negotiations that were met with considerable public opposition, Seoul opened its market to most beef cuts in July 2008.