December 03, 2003

Korea Beef Imports Up 4% in October
 

Korean beef imports in October increased by 4% compared to September to 28,631 tons for the month.  This represents a reduction in volume of 14% on October last year. However the value of imports for October has jumped by 12%, reflecting the higher prices being paid for both frozen and chilled product.

Imports of Australian beef decreased by 4% September figures to 5,393 tons for the month. In contrast US imports increased by around 4% to 20,451 tons. 

New Zealand recorded its highest volume of imports into Korea since May 1996, with 2,782 tons for the month. The entire product imported from New Zealand was frozen.

Total imports of chilled beef were up by 8% in volume and 7% in value. Chilled beef imports also continued to increase for Australia, up by 38% on September and 22% on October last year in terms of volume and 51% and 44% respectively in terms of value. 

Year to date October total imports were up by 4% on 2002 to 274,902 tons.

Korean 2003 imports of Australian beef fell by 14% to 58,731 tons, with a 16% reduction in frozen imports.