Australia benefits from Korea’s higher beef imports

MLA said Australia exported 14,934 tonnes (t) swt of beef and veal to Korea last month, 12,673t of which was frozen. Total exports for the first 11 months of the year hit 128,149t swt, which exceeded the total annual volume achieved last year.

Chick roll exports to the country were up 9% year-on-year in November, bringing volumes for the first 11 months to 34,598t swt. Brisket shipments were up 13% year-on-year for the month, while short rib exports rose 8%. Manufacturing beef exports were down 4% year-on-year, but were 32% higher than in the previous month.

The figures reflect an overall increase in Korea’s beef imports. According to data from the Korean International Trade Association, the country imported 27,795t swt of beef in October, up 12% year-on-year. Chilled and frozen beef imports increased by 11% and 13% respectively.

Indonesia​

Meanwhile, Australian beef and veal exports to Indonesia were up 16% year-on-year in November at 6,140t swt – the highest volume shipped to the country since 2011.

“Improved monthly exports for the second consecutive month assisted the volume for the year-to-November, moving up to the fourth-highest volume for the period, at 34,714t swt,”​ said the MLA.

Manufacturing beef remained the most popular cut shipped to Indonesia, although volumes were down 22% year-on-year at 2,360t swt. However, blade and thick flank/knuckle cuts increased “substantially” by 1,218% and 1,507% respectively.