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South Korea Driving Recent Surge in U.S. Beef/Pork Exports

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For the past year, South Korea has been one of the top global markets for U.S. beef and pork exports. The South Korean director for the U.S. Meat Export Federation says the American beef industry has been very successful in restoring consumer confidence in U.S. beef. Many Korean restaurants and retailers that were once reluctant to carry U.S. beef now feature a good-sized supply of it without any hesitation. A good example of this would be Costco-Korea. Over the last year, they’ve converted the chilled beef selection in their warehouses from Australian to U.S. beef.

U.S. beef exports to Korea pushed three percent higher year-over-year in volume to 184,152 metric tons last year. Those exports jumped 15 percent higher in value to a record $1.2 billion dollars. U.S. pork exports to Korea have also been successful. They’ve jumped 28 percent in volume to 173,182 metric tons in 2017. Those pork exports were valued at $475 million, up 30 percent year-over-year and the second-highest on record.

Source: NAFB News Service