In the first six months of 2012 shorts ribs made up around 47% of total Korean beef imports through quarantine, at over 55,000 tonnes swt (NVRQS).
While below the 2003 market share of 55%, short ribs continue to be the dominant cut in the Korean imported beef market.
While a lot of frozen short ribs are stocked and not necessarily released in the market, short ribs made up 10% more (as volumes held steady) of total imports in the first six months of 2012 compared to the previous year, as total beef imports through quarantine declined 22% year-on-year (NVRQS).
From January to June this year, US short ribs represented 57% of total volume, while those from Australia (25%), New Zealand (15%), Mexico (2%) and Canada (1%) made up the remainder of short ribs shipments.
The strength of short ribs in Korea and overall fall in imported beef demand has impacted overall chuck roll volumes, along with Australian blade/clod and various hindquarter cuts that have grown to become important items for exporters to Korea in recent years.
Source: MLA.com
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