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Bethan Wilkins

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AHDB Pork Market Intelligence

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Higher pork imports into South Korea

Home \ Prices & Stats \ News \ 2014 \ July \ Higher pork imports into South Korea

At 169,700 tonnes, South Korean pork imports strengthened by 7% in the first half of this year, compared with 2013, as PEDv hit its domestic production and increased demand for imports. Korea’s dependency the EU market increased, as imports rose by nearly 40% during the first half of the year.

At 169,700 tonnes, South Korean pork imports strengthened by 7% in the first half of this year, compared with 2013, as PEDv hit its domestic production and increased demand for imports. However, the latest figures showed imports almost 50,000 tonnes below 2012 levels. While the US remained the primary supplier of pork, imports from the country were down by 3% on the year earlier, as a result of lower availability and higher pork prices following the PEDv outbreak. At the same time, imports from Canada and Chile also declined, as product was diverted to Russia, following its ban on EU pork. Therefore, Korea’s dependency the EU market increased, as imports rose by nearly 40% during the first half of the year, as there were excess pork supplies on the EU market following the Russian ban. There was a particular contribution from Germany, as imports from the country rose by 72% in the first half of the year. The value of pork imports in the first half of the year totalled ₩538 billion, up 8% from a year earlier.

Higher pork imports into South Korea

Pig offal imports fell by 6% in the first half of the year to 9,400 tonnes. Nonetheless, supplies were around 3,000 tonnes higher than 2012 levels. With over a half of the total supplies sourced from the EU, offal trade with the continent also weakened by 6%. In contrast, the US increased offal shipments by 6% but this failed to offset the downturn from the EU. The total value of offal imports amounted to ₩26.4 billion, down 9% from the year before.