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Korea Beef Industry Overview February. 27, 2008 USMEF/Korea.

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Presentation on theme: "Korea Beef Industry Overview February. 27, 2008 USMEF/Korea."— Presentation transcript:

1 Korea Beef Industry Overview February. 27, 2008 USMEF/Korea

2 Livestock Status in Total Agricultural Production Classification 2003200420052006 Livestock ratio in total agricultural production(%) 27.829.933.533.1 Sourced by Ministry of Agriculture & Forestry (MAF) Hanwoo & Dairy cattle in total livestock(%) 27.826.726.828.0 Hog in total livestock(%) 30.233.831.930.9

3 Livestock Inventory Sourced by National Agricultural Products Quality Management Service (NAQS) 1,841 1,633 1,472 1,276 Unit: ‘000 Head 9,231 8,908 8,962 9,382 9,605 2,033 203 192185178 166

4 No. of Farms Sourced by National Agricultural Products Quality Management Service (NAQS) 178,721 187,740 182,593 # of Hanwoo Farm # of Hog Farm 15,242 12,290 9,832 Unit: No. of farm

5 No. of Head per Farm Sourced by National Agricultural Products Quality Management Service (NAQS) 11.3 8.6 6.9 Unit: No. of cattle Unit: No. of hog 605 729 976

6 Meat Per Capita Consumption (PCC) Sourced by Korea Meat Trade Association (KMTA) Unit: Kg 6.8 6.6 6.8 8.1 17.3 17.9 17.8 18.1 Forecast by KREI 19.7 7.5 Red – Beef Blue -Pork

7 No. of Domestic Cattle Slaughter Unit: Head Sourced by Korea Meat Trade Association (KMTA) 493,902 122,160 361,935 131,700

8 Korea Beef Production vs. Consumption Sourced by Ministry of Agriculture & Forestry (MAF) 172 156152 Unit : ‘000 M/T 390 327 316 333 Self-sufficiency36.1%44% 48% 47% 144 141 46.9%

9 Hanwoo Price Trend Unit: USD (Based on daily basic rate) Sourced by National Agricultural Cooperative Federation (NACF) USD 4,353 USD 4,674 USD 2,750 Korea-U.S FTA Agreement USD 4,169 USD 4,101 USD 2,070

10 Korea Beef Import M/T 224,036 325,823 Sourced by Korea International Trade Association (KITA) 2003. Dec, 23 BSE case informed and was allowed to customs clearance about completion of imported volumes inspected by Dec 22 nd. 160,096 25,427 Custom Clearance Basis 219,604 14,111 95,671 186,630

11 Beef - Domestic Supply vs. Import Sourced by Ministry of Agriculture & Forestry (MAF) 178 152 160 144 325 141 ‘000 M/T 158 212 219 171 Domestic supply forecast by KREI

12 Korea Beef Import by Cut (2003 vs 2007) M/T Sourced by Korea Meat Trade Association (KMTA) 58,338 9,917 160,699 49,732 Quarantine Inspection Basis

13 Beef Import Status in 2003 vs 2007 Total 325,823 M/T in 2003 Custom Clearance Basis Sourced by Korea International Trade Association (KITA) Total 219,604 M/T in 2007 Australia73.3% NZ18.4% Mexico1.9%U.S.6.4% U.S. 69 % Australia 21 % NZ 8 % Canada 2 %

14 Thank You!

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