US beef enters in Korean market
4/07/2008
The US beef from the quarantine inspection last week have appeared in the Korean market this week, while public protests persist. The majority of these US products are expected to penetrate smaller restaurant operations at discounted prices, as major retailers and foodservice companies are openly supporting Australian beef in attempt to restore consumers’ confidence in beef.
Export trading with Korea was reasonable to slow this week, with buyers taking a “wait and see” approach, observing the market reaction to US beef.
The Korean wholesale prices of imported beef remained mostly unchanged from last week. The trade noted concern over low stocks of boneless beef, due to limited import volumes.
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