Korean Wholesale Market Struggles With Rib Prices
SOUTH KOREA - The Korean market reported another tough week for its most wanted item – short ribs. Prices for imported short rib have surged since the beginning 2010, primarily due to falling supplies.
23 April 2010
1 minute read
Average wholesale prices for imported US grainfed short rib increased KRW500 (A$0.49) per kilogram this week, totalling KRW12,500 (A$12.14) per kilo. In the same week last year, US short rib was selling for KRW8,700 (A$9.12). In contrast, Australian grass-fed short rib remained steady this week at KRW8,500 (A$8.27) per kilogram, but remained well above the corresponding period last year, when short ribs were selling for KRW6,000 (A$6.29).
Australian beef exports to Korea so far for April (1-19 April) totalled 5,900 tonnes swt, with the likelihood of exceeding last year’s volumes (8,543 tonnes swt).
TheCattleSite News Desk
