July 14, 2004

Australian Beef Exports To Korea Remain Strong

Australia's beef exports to Korea in June remained strong, shipping 8,406 tonnes, 39% above the same month in 2003.  This volume was down 19% on May due to a 25% reduction in frozen grassfed product. 

Chilled beef exports continue to show strong growth, gaining 192% on June 2003 to 1,414 tonnes for the month.  Chilled grassfed exports have proved particularly strong with an increase of 321% on the same month last year.  Growth in chilled grainfed exports has also been significant - up by 129% in June compared to year ago levels.

The June export result is the fourth consecutive month of export volumes to strongly exceed year ago levels.  Australian exports are expected to slow in July, compared to June levels, due to a reduction in orders taken by exporters in June.  However, in July orders have begun to accelerate as Korean importers look to buy stocks in preparation for the September Thanksgiving period, one of the highest beef consumption periods of the year.