July 16, 2008

South Korean beef sales drop with re-entry of US products

Sales of South Korean beef in the domestic markets dropped further this month due to the resumed import of US beef, traders said.

Shinsegae E-Mart said that growth in Korean beef sales this month was at -14 percent compared to last year.

This is a further decline from 9 percent in April, -6 percent in May and -11 percent in June.

Homeplus also recorded -9.9 percent difference in beef sales so far this month, which was slightly higher than the -13.2 percent in June, but still remained in the minus range.