South Korea pork imports exceeded 300,000 tons

Published 2022년 8월 30일

Tridge summary

Pork imports in Korea have reached 305,589 tons for the first eight months of the year, mirroring the volume from the previous year. This is despite the domestic pork market seeing smooth sales due to holiday demand, which has led to a price increase for pork carcasses. However, the consumption of frozen pork meat continues to be low, and prices for certain cuts have decreased due to the end of the summer peak season. Additionally, the Chicago futures price for pork in the US has seen a slight decrease for future contracts.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Last year's import volume in 8 months Domestic, holiday demand sales smooth Demand maintained by imports, affected by discount events As of the middle of this month, pork imports exceeded 300,000 tons. According to the industry, pork imports recorded 16,921 tons at the beginning of this month and 12,485 tons in the middle of this month, respectively, based on quarantine standards. Accordingly, the accumulated amount of this year until the middle of this month was 305,589 tons. Considering that the annual pork import volume last year was 332,757 tons, it is expected to approach last year's import volume in eight months. In the midst of this, the Korea Meat Distribution and Export Association is showing a smooth sales situation for domestic pork due to the Chuseok holiday demand. analyzed as According to the association, as the price of pork carcass increased further due to the increase in auction demand in the wholesale market in preparation for Chuseok shipments from butchers, ...
Source: Aflnews

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