Traders Struggle to Satisfy Korean Beef Demand
KOREA - Australia’s beef traders reported on solid demand and strong prices from Korea this week, but were at times unable to capitalise on this demand due to the lack of beef supply. This resulted in low beef trading among Korean wholesalers.
5 March 2010
1 minute read
While Korean beef importers are demanding large quantities of clod, chuck and point end brisket, Australia’s traders commented that the low beef supply and strong interest for trimmings in other markets in recent weeks is diminishing the offering of these items.
Beef exports from Australia to Korea totalled 7,505 tonnes swt in February with 2,325 tonnes swt consisting of chilled beef products. The lack of Australian grassfed beef has triggered improved interest in grainfed beef in Korea – increasing 33 per cent on last month and by 47 per cent in the calendar year to February compared with 2009.
TheCattleSite News Desk
