South Korea-More imported beef.

SOUTH KOREA-Lift in imported beef sales at Korean retail

17/04/2009

The Korean trade reported reasonably strong sales of imported beef at retail this week, pushed by consumers’ preference for dining at home, as well as increased promotional efforts by retailers. Approximately 60% of imported beef sold at Korean retail outlets is Australian and 40% is US, according to trade sources.

Despite the improvement at Korean retail, beef exports from Australia to Korea have still been slow, as many importers continue to struggle with credit issues and low beef demand, particularly from the foodservice sector. As April is traditionally a low consumption month for beef, Korean businesses are hoping for a lift in demand next month.