Chilled Beef Returns From Korea Surge In 2010-11
AUSTRALIA and KOREA - The value of Australia's beef exports to Korea during the past fiscal year totalled A$715 million - an increase of 19 per cent on the previous year, underpinned by record returns from chilled beef, at A$272 million (Global Trade Atlas), reports Meat and Livestock Australia (MLA).
16 August 2011
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MLA states that the value of frozen beef exports for the past year also increased, surging 22 per cent year-on-year, to A$442 million, but remained well behind the record A$637 million recorded in 2006-07.
All segments of the chilled beef trade with Korea increased during the past financial year, with carcase, bone-in items and boneless beef shipments increasing 118 per cent, 53 per cent and 13 per cent year-on-year, respectively.
The carcase and bone-in trade, however, make up only one per cent and eight per cent of total chilled exports, with the remaining 91 per cent of chilled shipments consisting of boneless beef cuts (mostly chuck roll and blade).
MLA states that during the last financial year, Australia captured 79 per cent of the Korean chilled imported beef market, with the US and New Zealand making up 20 per cent and one per cent, respectively (KITA).
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