Foot-and-Mouth Disease Prompts Korean Pork Imports
SOUTH KOREA - With domestic hog production reduced 28.6 per cent (January-to-July) because of foot-and-mouth disease losses, the South Korean government is stimulating pork imports with a duty-free Tariff Rate Quota.
30 September 2011
1 minute read
To curb soaring consumer prices, the government is also subsidizing the difference in costs between air freight and ocean freight for chilled pork bellies, reported US Grains Council Director in Korea Byong Ryol Min.
The result is a 91.5 per cent increase in Korean pork imports this year, according to Korean customs data. Among major suppliers, the United States gained the largest share of the increase. US sales are up 141.5 per cent and the US share of Korea’s pork purchases increased from 27.7 to 35 per cent.
