ANALYSIS: Tepid Demand Sinks Korea's 2024 Total Beef Imports to 4-Year Lows
Total beef imports to Korea in 2024 tumbled to the lowest levels since 2020 to 461,028 metric tons (mt), according to the latest Korea Customs Service data. Inbound shipments were 2.5% lower compared to the previous year, shedding 11,861 mt amid reduced demand.
Korea's beef market, long a cornerstone of its evolving dietary landscape, faced a basket of headwinds in 2024. A sputtering economy and political instability squeezed consumer spending, while the Korean won’s drop to multi-year lows further eroded importers’ margin...
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