Research Reports
An Analysis on the Impact of US Beef Re-entry to Korean Market
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AuthorJeong, Minkook
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Publication Date2005.09.01
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Original
The discovery of BSE in the United States in December 2003 substantially disrupted US beef exports to the major pacific Rim beef markets of Korea including Japan. Due to further delays in resumption of US trade with Korean and Japan, United States have difficulty in trading beef in the world market.
However it seems likely that mutual re-trade between korea and United States is possible in near future, following the adoption of new OIE rules. This study is to analyze the impact to korean beef market in the case of re-opening of US beef import.
In the case of re-open of US beef in Korea in 2006, To analyse farmer's response, a survey was conducted. The number in the sample is 762. About 95 percent of respondents thought that Krean cattle industry will be shocked largely. According to KREI Livestock Model, Korean cattle price is estimated to fell by 6.4~39.2% a year on average, pig price fell by 4.1~18.5%, broiler fell by 1.9~14.5%.
To minimize impact of re-open of US beef, first, it is vital to expand high-quality and to enhance the safety of beef. second, it is important to clear market channel. Third, promotion activities are very important to enlarge demand basis of domestic beef .
Researchers: Jeong Min-Kook(mkjeong@krei.re.kr), Song Ju-Ho,
Song Woo-Jin, Lee Hyung-Woo, Kim Hyung-Jung
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