Beef exports to Korea maintain growth in October

Australia exported 14,697 tonnes shipped weight (swt) of beef to Korea during October, 9% more than last year, bringing the year-to-date total to 133,830 tonnes swt – also 9% higher than the same period in 2014 (Department of Agriculture).

Most beef categories recorded higher volumes, with the exception of chilled grassfed beef.

The largest growth in beef exports during October was in frozen brisket, which jumped 382% on last year, to 1,814 tonnes swt, followed by thick flank/knuckle (up from just 40 tonnes in October 2014, to 736 tonnes swt this October). A large drop in the trade of these two items to other markets appears to have been a catalyst for the large jump this month:

• Frozen brisket exports to Japan were down 57%, to 1,254 tonnes swt
• Frozen thick flank/knuckle exports to the US were down 89%, to 139 tonnes swt

In contrast, frozen short rib exports (usually one of the largest categories for Australian beef to Korea) dropped 59%, or 806 tonnes swt, to just 555 tonnes swt. Competitively priced US short rib in Korea – despite the relatively high US$ – is the key reason for this decline.