Korean Beef Imports May Double

EDMONTON - May 9/02 - SNS -- Canadian beef exports are expected to show substantial growth to South Korea, according to the Canada Beef Export Federation (CBEF).

Sales to the country are forecast to jump from just 9,000 metric tons (MT) last season to between 18,000 and 20,000 MT this year says Ted Haney, president of CBEF. He adds that prospects for this Asian export market look good in the longer term as well.

"South Korea continues to take down certain market access restrictions that have made it difficult to sell our most profitable products which are fresh-chilled beef destined for retail.

In ten years Canadian beef and veal exports to Asia and Mexico have gone from $25 million to the present $497 million. A 30% increase in sales to Mexico in 2001 was offset by a 20% decline in the Asian market. Haney points out that last year South Korea represented a very difficult experience where sales were slashed in half. However, he says that has changed.

Haney believes the Canadian beef industry is well on its way in achieving its export goals for this year, 2005 and 2010. A sales increase of 13% is required in order to reach this year's goal.

Japan, the largest buyer of Canadian beef, also is showing signs of a return of consumer confidence. The BSE crisis last year devastated markets. According to March figures, beef consumption has returned to near-normal levels. Western-style family restaurants say business has bounced back by 98%.