Sunday, October 26, 2008

US Beef Accounts for Nearly Half of Beef Imports

Just three months after the restart of imports, US beef now accounts for almost half of total beef imports into Korea, reports Yonhap.

In terms of dollar amount, US beef accounted for 43% of total beef imports last month. In terms of tonnage, it accounted for 35%. And the numbers are rising quickly.

The primary victim — Aussie beef. Beef from Hojuland still accounted for 48% and 52% of total imported beef by dollar amount and tonnage, respectively, but this is way down from 77% and 72% in May.

Kiwi beef is also getting killed — it now places a distant third, at 8% and 11%.

In particular, the US beef’s impressive share by dollar is due to exporters focus on exporting high-value cuts like ribs

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