Sourh Koreea-Flu crisis impact on the market.

SOUTH KOREA-Swine flu impacts Korean market

Korean traders showed little activity in the Korean wholesale market this week, as the loss of confidence in pork affects trade in other meats. Swine flu has significantly impacted the pork trade and retail sales in Korea as food safety remains the most important deciding factor in most Korean consumer food purchases.

MLA found that retail sales for pork belly dropped sharply this week and Korean retailers, such as E-Mart, Homeplus and Tesco, started promotional activities with low price offerings to counter this loss.

Prices for Australian beef in the Korean wholesale market remained steady this week. Korean retailers mentioned their stock levels for beef remain firm as demand is showing slow incremental growth. Some Korean beef importers are holding onto product in the hope of receiving better returns as the BBQ summer season approaches, which traditionally is accompanied with higher demand and prices.