US beef exports in South Korea are surpassing Australian competition
US beef exports to South Korea are increasing as the American producers are surpassing competitors from Australian in some of the biggest retail stores in the country.
Since last year, Costco-Korea has decided to convert the chilled beef selection in all of its warehouses from Australian to U.S. product as it proves to gain popularity among local consumers, explained US Meat Export Federation (USMEF) Director for Korea, Jihae Yang, in an interview with Drovers magazine.
American beef exports to the East Asian country have increased by 3% in volume in 2017, reaching to 184,152 metric tons, while the value is at a record level of $1.22 billion, marking a 15% jump compared to the previous year. The chilled beef seems to be the product that is driving this positive trend with a growth of 73% in volume (45,153 MT) and 78% in value ($405.8 million).
Pork exports are also on the rise, the volume increasing with 28% (to 173,182 MT) reaching to a value of $475 million, up by 30% compared to 2016, said Jihae Yang.
(Photo source: Pixabay)
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