ANALYSIS: Korea’s July 2024 Beef Imports Up 12.1% M-o-M: Yearly Growth Lags

Korea's beef imports reached 38,576 mt in July 2024, showing a 12.1% increase (4,154 mt) compared to the same month last year, according to the latest figures from the Korea Customs Service.

This monthly increase was driven primarily by higher imports from Australia and the United States (US) and Canada, while declines were noted from New Zealand.

On a yearly basis, imports dipped 5.0% or 2,027 mt. Korea's struggling economy has led to a decline in beef consumption, with consumers favouring more affordable options like...

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