Australian beef proves more popular in South Korea

Prior to the ban on American beef in South Korea in 2003, Australia had only 21% of the market share for beef in the country.

In the 5 years since the ban, this rose to 75% of the market share, the balance was filled by New Zealand.

The United States, have filled every cold store in the country with US beef, in recent weeks and last week, 289 supermarkets opened their shelves to American beef again.

While beef has been heavily discounted, there is still a measure of buyer resistance to the American product, owing to the adverse publicity over BSE and public demonstrations.

The asset test, is going to be in February and March of 2009, when the massive stockpiles run down.

Under normal circumstances, the move by the US exporters would be a wise one, however on a falling market and in a global recession, it may not be as viable as anticipated.

JBS-Swift, who have exported 2,500 tons of beef since July, from the Smithfield beef plant at Greeley, are now under a ban from the South Korean Authorities, over 3 containers of contained meat that was not stamped correctly.

The rules are quite specific in allowing one mistake only, should there be a re-offense, the ban is automatic.