South Korea becomes No. 3 export market for US beef

 

 

South Korea became the third-largest market for American beef exporters in the first quarter, the US Meat Export Federation (USMEF) said Thursday (May 27).

 

According to USMEF data, US beef shipments to the country reached 18,763 tonnes during the three-month period, surpassing 18,487 tonnes sent to Japan, which had been the third-largest importer in terms of volume.

 

However, by value, South Korea remained the No.4 market by importing US$78.2 million worth of meat in the first three months of the year, short of US$95.3 million worth of beef purchased by Japan.

 

The difference in value is due to South Korea importing beef from cattle younger than 30 months old while the neighbouring country only bought beef from animals less than 20 months old, which is more expensive.

 

In the January-March period, South Korea's US beef imports jumped 66% on-year, with 30% of the country's imported beef coming from the US, the federation said.

 

South Korea's April data suggests even a rosier picture for future beef exports, executives at the USMEF said. US beef shipments to the country shot up 80% on-year last month, trailing only Mexico.

 

US beef had accounted for 67% of South Korea's import meat market in 2003 before a case of mad cow disease was confirmed, halting the trade. After long, drawn-out negotiations, Seoul lifted all restrictions on US beef in June 2008. However, due to lingering concerns for the safety of US meat, Australian beef is still the best seller in the country.

 

Meanwhile, outbreaks of foot-and-mouth disease (FMD) within the Asian country is still spreading, totalling up to 11 confirmed cases so far, several in areas close to the west coast.

 

Despite the government's intensive efforts to curb the spread of the highly-contagious disease, five cattle at a farm in Buyeo, 195 kilometres south of Seoul, is the most recent suspected case, reported the Ministry for Food, Agriculture, Forestry and Fisheries.

 

Nearly 50,000 livestock have been culled and buried in South Korea, and the government has raised the animal disease alert status to its highest level.