U.S. beef exports to Taiwan and South Korea reached new heights in August, according to the latest trade data issued by USDA and compiled by the U.S. Meat Export Federation (USMEF). Exports to Taiwan totaled 16 million pounds valued at nearly $64 million, while shipments to Korea topped $183 million on a volume of almost 60 million pounds of beef.
The announcement comes at the same Taiwan decided to ease some restrictions on beef imports.
USMEF President and CEO Dan Halstrom points out that Taiwan’s foodservice sector has made an impressive recovery from COVID-19 related restrictions imposed earlier in the year, while retail demand for U.S. beef remains extremely strong. Halstrom notes that the United States has dominated Taiwan’s imports of chilled beef in recent years, capturing more than 75% market share. In August, U.S. beef accounted for more than 80% of Taiwan’s chilled imports.
Halstrom explains that the foodservice environment has been more challenging in Korea, where restaurants and hotels have faced several rounds of COVID-19 safety measures throughout the year. But U.S. beef is thriving in Korea’s retail sector and beef sales have made strong gains on e-commerce platforms during the pandemic. He adds that cattle herd rebuilding efforts in Australia have tightened supplies of Australian beef, further enhancing opportunities for U.S. beef export growth.
USMEF – 2020
Northern Ag Network