August 16, 2010

Australia expects higher August beef demand from Korea

Australia exported 3,055 tonnes swt of beef to Korea from August 1-9 this year, with chilled beef making up 25%, as Koreans geared up purchase in preparation of Chuseok (Harvest Festival) which falls on September 22.

In the last seven months, Australia exported 16% more beef than last year to meet overall beef demand, and supply the cuts required for gift set preparation.

This year, chuck roll and blade have been the main growth items by volume - increasing 2,198 tonnes swt and 3,843 tonnes swt, respectively, from January to July this year compared with last year.

Healthy demand has also been detected in loin cuts this year. Both striploin and tenderloin exports to Korea increased 23% and 60%, respectively, in the year to date on 2009.