US Beef exports sets monthly records in Taiwan and South Korea

According to the latest trading data from USDA, beef exports were best in August 2020 since the start of the coronavirus pandemic. As shared by Dan Halstrom, the president and CEO of the US Meat Export Federation , US beef export to Taiwan has hit record in August 2020, "We are seeing foodservice not only back to normal in Taiwan, but probably exceeding where we were pre-COVID," he says. "And of course retail continues to grow in Taiwan as well and US beef dominates the chilled import market share with an excess of 80 percent share.”

Halstrom also shared that South Korea also imported a record amount of US beef in August 2020 despite a more challenging foodservice environment. “We are still seeing a rebound in foodservice overall, but we were hoping it would be quicker,” he says. “Meanwhile, the real success story in Korea has been the retail environment and the online digital platform. Business is absolutely booming. And US beef has been well-positioned to take advantage of that.” Halstrom says the demand for US beef is seeing an additional boost as Australia has tightened its export supplies of beef.

According to USDA data, August was the first month beef exports had a year-over-year increase since the coronavirus pandemic hit the US.