Australia's beef exports to S. Korea up by over 3,000 tons in October

Australia's beef exports to South Korea last month surged to 13,829 tons last month from 10,600 tons in September, when it faced stiffer competition from the US.

So far, South Korea has taken short of 128,000 tons, slightly down from the same period a year earlier.

According to the Department of Agriculture, Australia's exports to all markets last month reached 81,314 tons, a significantly higher from September, but 34,000 tons behind October last year.

Japan remained Australia’s most important export destination, with trade reaching 22,371 tons, a 9 percent hike from September, but 11 percent less compared from September last year.

Australia expects more competition in Japan from US exporters this year, partly due to increased US production, as well as the implementation of the US-Japan Trade Agreement in January, which reduced import tariffs on US beef from 38.5 percent to 26.6 percent.

So far this year, Australia’s exports to Japan are just over 221,000 tons, down about 9 percent from the same ten-month period last year.

Exports to the US last month continued to dip due to currency movement and uncompetitive price of Australian lean ground beef, and surging exports from South America.

Total volume into the US last month was 14,486 tons, down 9 percent from September figures, and 34 percent less than October last year, when Australia butchered breeding cows suitable for US ground beef at a furious rate.

Australia's total exports in the first 10 months of the year are at 874,418 tons of chilled and frozen beef, 135,000 tons, or 13 percent less than from the same ten-month period last year.