November 13, 2007

South Korean ban to impact US meat exports

Overall US meat exports were estimated to fall this year and next despite higher production, partly because of suspension of exports to South Korea, the Korea Times reported the USDA as saying.

The forecast for total 2007 US meat production is raised reflecting stronger fourth quarter production estimates for red meat and poultry," the USDA's World Agricultural Supply and Demand Estimates report said.

The report reduced American meat export forecasts for 2007 and 2008 due to the suspension by South Korea.

South Korea announced a temporary import suspension after repeated discoveries of bone fragments in shipments from the US.

US meat production for this year is expected to total 48.2 billion pounds, with 12.5 billion pounds in the fourth quarter.

The planned free trade agreement between South Korea and the US looks increasingly jeopardized as meat negotiations continue to prove futile.