South Korea: Australia Remains Largest Supplier Of Beef

Recently, the Korea International Trade Association (KITA) released South Korea’s red meat import data for September 2007. According to the statistics, during September, South Korea imported 18,371 MT of beef. This was down 13.8 percent from the previous month and was down 6.0 percent from September 2006. More specifically, imports of frozen beef totaled 14,942 MT, accounting for 81.3 percent of the total. Imports of fresh, chilled beef totaled 3,428 MT, with Australia having a 74.7 percent market share.

During September, South Korea’s beef imports from Australia fell 18.3 percent from August and 28.4 percent from September 2006 to 11,619 MT. During the first three quarters of 2007, South Korea imported 114,301 MT of beef from Australia, which was nearly unchanged from a year ago. Australia remained the largest supplier of beef to South Korea with 70.5 percent of the total imports. Beef imports from New Zealand during September equaled 2,136 MT, 48.6 percent less than the previous month and 26.1 percent less than September 2006. Additionally, this was the lowest single month volume since January 2004.

Year-to-date beef imports from New Zealand were 7.2 percent below a year ago, amounting to 34,112 MT. During September, South Korea imported 4,378 MT of beef from the U.S. This was up 77.7 percent over August. During the first three quarters of 2007, South Korea’s beef imports from the U.S. reached 10,519 MT, while imports remained banned from the U.S. during the same timeframe during 2006. Overall, South Korea’s total beef imports during the first three quarters of the year equaled 162,116 MT, 4.6 percent greater than the corresponding period a year ago. In the meantime, during September, South Korea imported 22,120 MT of pork, which was 21.7 percent lower than the previous month and was 16.0 percent lower than September 2006. Also, this was the lowest single month total since November 2005.

During September, South Korea’s pork imports from the U.S. fell 20.1 percent from August and 31.7 percent from September 2006 to 4,744 MT. This was the lowest single month volume since September 2005. During the first three quarters of 2007, South Korea imported 64,916 MT of pork from the U.S., which was 5.7 percent above the same period a year ago. The U.S. was South Korea’s main source of pork with 25.8 percent of the total imports. Pork imports from Canada during September totaled 4,227 MT, down 22.5 percent from the previous month and down 23.9 percent from September 2006. Total year-to-date pork imports from Canada were 5.0 percent more than a year ago, amounting to 46,919 MT.

During September, South Korea imported 3,857 MT of pork from Chile. Although this was 9.7 percent lower than the previous month, it was 19.6 percent higher than September 2006. Year-to-date pork exports to Chile totaled 31,763 MT, 41.9 percent greater than last year. Overall, South Korea’s total pork imports during the first three quarters of the year equaled 252,087 MT, 10.7 percent above the same period a year ago. To obtain additional statistics on South Korea’s red meat industry, visit the KITA website at http://www.kita.org/.