Australian Share of Korean Beef Market Up19 November 2013
SOUTH KOREA - Korean beef imports during September were steady year-on-year, at 22,291 tonnes according to the Korean International Trade Association.
Meat and Livestock Australia analysts said that improved seasonal demand (Chuseok) assisted the rise in Korea’s intake of chilled beef, to 3,736 tonnes (up five per cent year-on-year), offsetting a slight one per cent year-on-year fall in frozen volumes, to 18,555 tonnes.
Imports from Australia during September were up 13 per cent year-on-year, to 13,022 tonnes, increasing its market share of imported beef from 52 per cent in September 2012 to 58 per cent in September 2013.
The increased monthly volume was largely due to a 19 per cent year-on-year rise in frozen beef, to 10,068 tonnes, which offset a decrease in chilled beef imports, at 2,954 tonnes, down three per cent year-on-year.
Korea’s decreased intake of Australian chilled beef was offset by larger volumes from the US – up 47 per cent year-on-year, to 771 tonnes.
However, a 17 per cent year-on-year fall in US frozen beef at 6,559 tonnes resulted in a 13 per cent year-on-year contraction in total imports from the US, at 7,330 tonnes.
The proportion of the top three cuts (short rib, chuck roll and blade) out of total monthly imports increased to 71 per cent in September 2013 from 65 per cent in September 2012. according to figures from the Quarantine and Inspection Agency, largely driven by a greater amount of chuck roll, at 4,508 tonnes – the highest volume since September 2003.
Australia supplied a record volume of chuck roll, at 3,724 tonnes, which accounted for 83 per cent of total chuck roll imported into Korea in September, with US product also jumping to 692 tonnes, up 613 per cent year-on-year.
Korean imports of short ribs during September rose by six per cent year-on-year, to 7,545 tonnes, the majority of which, 60 per cent, was supplied by the US, at 4,536 tonnes, up 12 per cent year-on-year.
Similarly, Korea took more Australian short rib, at 2,372 tonnes, up 13 per cent year-on-year.
While Australia remained the major blade supplier to Korea, with 95 per cent of total blade imports, during September, at 1,858 tonnes, which was a rise of one per cent year-on-year, the total monthly volume was back three per cent year-on-year, to 1,958 tonnes, because of decreased quantities from other suppliers.
TheMeatSite News Desk