 |
U.S. welcomes increased beef exports to South Korea
An agreement has been reached with South Korea that allows for greater importation of U.S. beef.
South Korea's markets for U.S. beef were shut down following the finding of a BSE case in the U.S. in late 2003.
The third largest export market for U.S. beef prior to the BSE finding, South Korea has been slow to reopen markets. The policy change allows U.S. beef and beef products of all ages to enter South Korea. The protocol is consistent with World Animal Health Organization and prevailing international standards.
“This is outstanding news for the U.S. beef industry and for South Korean consumers,” said Philip M. Seng, president and CEO of the U.S. Meat Export Federation.
The beef industry has lost $3.5-4 billion in beef exports to South Korea since the end of 2003, according to the USMEF.
American Farm Bureau indicated beef exports to Korea prior to the market closure were valued at more than $772 million annually.
“We know there is a significant demand there for quality U.S. beef that has not been satisfied for more than four years,” Seng added.
In 2003, the U.S. exported 543.6 million pounds of beef and beef variety meats to South Korea, according to the USDA.
In 2007, an estimated 53.4 million pounds were shipped to South Korea. The shipments were limited to boneless beef from cattle under 30 months of age. The market was only open for about five months of the year.
Congressman Earl Pomeroy (D-N.D.) welcomed the opening of the South Korea market as good news for upper Midwest ranchers.
“We know North Dakota beef is some of the best in the world, and I am pleased that it will soon be back on Korean tables,” Pomeroy said. “I view this agreement as very welcome news.”
Pomeroy traveled to South Korea in 2007 and visited with Korea's Minister of Foreign Affairs and Trade. He discussed the U.S./Korea Free Trade Agreement and the status of opening Korea's markets to U.S. beef imports.
The new agreement takes affect in May.
The American Farm Bureau President Bob Stallman said he welcomes the announcement that Korea will open its market to U.S. beef. Farm Bureau supports congressional passage of a South Korea free trade agreement now that greater U.S. beef imports will resume.
“It is now time for other countries that have continuing restrictions against U.S.-produced beef to act in conformity with the World Animal Health Organization standards,” said Stallman. “Now that this obstacle with Korea has been overcome, Farm Bureau urges swift congressional passage of the Korea free trade agreement.”
