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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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 Posted: Wed Aug 27, 2008 3:49 pm Post subject: Sales of Korean beef down, "due to fears of mad cow&quo |
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Isn't this story headline a crock?
The reason they give for Korean beef sales dropping 19 percent is that Koreans are scared to eat Korean beef due to US mad cow.
Talk about trying to save face in the wake of people buying the cheaper US beef at the expense of Korean beef sales:
http://english.yonhapnews.co.kr/business/2008/07/26/91/0501000000AEN20080725010700320F.HTML
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(News Focus) US beef safety concerns, weak economy hurt beef consumption
혻혻 By Lee Joon-seung
SEOUL, July 26 (Yonhap) - Safety concerns over beef imports and a weak economy are adversely affecting beef sales and prices, dealing a further blow to Korean cattle farmers, industry sources said Saturday.
혻 혻 Large retail outlets and cattle groups said that the weak economy and the large anti-U.S. beef protests that rocked the country in recent months seem to be taking their toll on domestic consumption.
혻혻 The government and foreign experts have given repeated assurances that U.S. beef imported under the revised quarantine rules pose no real threat to human health, especially since Seoul and Washington agreed to voluntarily limit imports to beef from animals under 30 months old. However, public opinion remains divided, with many expressing concerns about eating beef at all.
혻혻 Insiders also said that slowing economy, which grew by only 0.8 percent in April and June compared to the first quarter, contributed to weaker sales, as well as skyrocketing consumer prices. For June, consumer prices rose by 5.5 percent -- a 10-year high -- triggering speculation that stagflation may cripple the South Korean economy.
혻혻 Reflecting such developments, E-mart, South Korea's largest discount store chain, said sales of hanwoo beef - an indigenous breed of cattle raised mostly for meat consumption -- plummeted 19 percent coming into this month. Sales have been falling into negative territory since May, with a corresponding drop in prices, it said.
혻혻 The decrease in demand has caused the average price of a 100-gram prime sirloin cut that cost 6,550 won (US$6.47) in March to drop to 6,250 won two months later.
혻혻 The drop in prices has spread to imported beef as well, with a 100-gram chuck roll cut of Australian beef falling to 1,480 won as of this month from 1,580 won in March.
혻혻 "The decrease in sales for all types of beef is a clear sign that customers have been affected by the controversy surrounding U.S. beef safety and worries over the general health of the country's economy in the coming months," an E-mart executive said.
혻 혻 He said that while his company and others like Lottemart and Homeplus do not plan to handle U.S. beef in the near future, it may consider such steps if sales of beef pick up and there is less bad publicity linked to such a move.
혻혻 "The deciding factor will be consumer sentiment, along with trends leading up to the Chuseok holiday," the expert said. Chuseok is one of the most important traditional holidays in Korea, and has caused beef sales to jump two-fold in the past.
혻 혻 The view was echoed by Kim Tae-yeol, chairman of the newly formed Korea Meat Import Association (KOMIA). "There has been a sharp downturn in meat consumption that has affected both domestic and imported beef," he said.
혻혻 The head of the umbrella group, representing 152 large meat importers, said that under existing circumstances, sales of U.S. beef may not increase sharply in the near future.
혻혻 Even though there have not been any serious clashes between businesses that sell imported beef and civic groups that oppose imports, only about 2,000 of the slightly more than 4,280 tons of U.S. beef that has cleared quarantine inspections since June 26 has actually been handed over to importers. About 5,300 tons of U.S. beef had been held in cold storage since quarantine inspections stopped in October.
혻혻 Sales of U.S. beef, which began early this month, are taking place at smaller-sized butcher shops and restaurants owned by KOMIA members.
혻 혻 Restaurants and other food service providers that are obliged by law to inform consumers about the country of origin of the beef they serve have largely said they will use either local, Australian or New Zealand beef to avoid scaring away customers. Both Australian and New Zealand beef are competitive with the price with U.S. beef.
혻혻 However, the decision to allow U.S. beef into the country is likely to hurt the 185,000 households that raise hanwoo, and that are already on the defensive with imports from other countries controlling more than half the domestic market.
혻혻 "These families raise a total of 2.27 million head of meat cattle, and because of the drop in demand there is no way to sell them, especially with the advent of price hikes in feed that are likely to really hurt profits," said Kim Young-won, an assistant director at the Hanwoo Association.
혻혻 The official for the association representing many of the larger cattle ranches in the country, which grow about 50 percent of the country's hanwoo, said that the group made strong demands that the government help find outlets for meat. They also asked Nonghyup Feed Inc. not to raise feed prices by 19 percent, as planned.
혻혻 "Even at current feed prices, only half of all cattle owners are turning a profit by selling their cattle, but this could fall drastically if there is a hike in feed prices, which would make raising them all the more expensive," Kim claimed.
혻혻 Others in the association called for efforts to stabilize prices of calves, an important source of income for many small-time farmers who cannot raise cattle for two to three years. A drop in calf prices is a precursor to a weak market, showing that farmers are trying to sell their livestock below previously set prices as they fear steeper price cuts down the road.
혻혻 Prices started to fall late last month when the National Veterinary Research and Quarantine Service lifted its eight-month-old import ban.
혻혻 The government, meanwhile, said that it will do what it can to help farmers cope with a possible influx of cheaper beef imports.
혻혻 The Ministry of Food, Agriculture, Forestry and Fisheries said it has already implemented measures to enhance labeling transparency in the country's distribution and retail sector so meat from dairy cows and cheaper imports are not sold as premium hanwoo beef.
혻혻 Such practices, widespread in the past, have made it hard for hanwoo ranchers to sell their beef.
혻 혻 It also said that a comprehensive tracking system is to be introduced for all local cattle so consumers can check the origin of the meat that they consume.
혻혻 "The only effective way is for farmers to assure consumers that the beef they are producing is superior to imports in every way," said a government official, stressing that there is a limit to what the government can do in an open market economy, especially since any overt support could trigger disputes with trading partners.
혻혻 [email protected]
(END) |
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Scotticus
Joined: 18 Mar 2007
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| Posted: Wed Aug 27, 2008 3:56 pm Post subject: |
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| So Korea is using the US as a scapegoat. You post as if that's something we don't already expect. |
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ED209
Joined: 17 Oct 2006
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| Posted: Wed Aug 27, 2008 4:01 pm Post subject: |
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| 혻혻 "The only effective way is for farmers to assure consumers that the beef they are producing is superior to imports in every way," said a government official, stressing that there is a limit to what the government can do in an open market economy, especially since any overt support could trigger disputes with trading partners. |
Or they could just lower the damn price of Korean beef. |
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I_Am_The_Kiwi
Joined: 10 Jun 2008
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| Posted: Wed Aug 27, 2008 4:24 pm Post subject: |
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average price of a 100-gram prime sirloin cut that cost 6,550 won
thats ya problem right there....
65,500 KG......highway fukn robbery that is. |
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CentralCali
Joined: 17 May 2007
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| Posted: Wed Aug 27, 2008 6:11 pm Post subject: |
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How'd you like this part of that article?
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The Ministry of Food, Agriculture, Forestry and Fisheries said it has already implemented measures to enhance labeling transparency in the country's distribution and retail sector so meat from dairy cows and cheaper imports are not sold as premium hanwoo beef.
Such practices, widespread in the past, have made it hard for hanwoo ranchers to sell their beef. |
So, the dishonest ranchers have caused a backlash against the dishonest ranchers. Oh, the horror, the horror I say!  |
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IlIlNine
Joined: 15 Jun 2005
Location: Gunpo, Gyonggi, SoKo
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| Posted: Wed Aug 27, 2008 6:40 pm Post subject: |
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Right!
Basically the protests highlighted the dangers of eating ALL beef, not only American beef. Now the whole industry is suffering.
Talk about biting off your nose to spite your face.
That said, they're right about one thing... it all benefits consumers in the end. |
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Gollywog
Joined: 14 Jun 2008
Location: Debussy's brain
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| Posted: Wed Aug 27, 2008 8:34 pm Post subject: |
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OR, perhaps Koreans are beginning to catch on that Korean beef is unsafe, unsanitary, and at far, far greater risk of carrying mad cow disease than American beef.
After what I have read, I have stopped eating Korean beef.
And when those signs read "Safe, clean Australian beef," they are really referring to the unsafe, unsanitary Korean beef.
I would rather eat American beef, but anything is better than Korean beef. And there is no country in the world, with the possible exception of North Korea, which will allow the importation of Korean beef. |
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wylies99
Joined: 13 May 2006
Location: I'm one cool cat!
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| Posted: Thu Aug 28, 2008 12:23 am Post subject: |
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| IlIlNine wrote: |
Right!
Basically the protests highlighted the dangers of eating ALL beef, not only American beef. Now the whole industry is suffering.
Talk about biting off your nose to spite your face.
That said, they're right about one thing... it all benefits consumers in the end. |
Yep, it blew up in their faces. |
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nickq61
Joined: 12 Jun 2008
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| Posted: Thu Aug 28, 2008 3:16 am Post subject: |
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| Scotticus wrote: |
| So Korea is using the US as a scapegoat. You post as if that's something we don't already expect. |
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Pooty
Joined: 15 Jun 2008
Location: Ela stin agalia mou
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| Posted: Thu Aug 28, 2008 3:19 am Post subject: |
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| Hee HAW!! |
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Gollywog
Joined: 14 Jun 2008
Location: Debussy's brain
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| Posted: Fri Aug 29, 2008 5:11 am Post subject: |
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The local McDonald's looked pretty empty today. They only had one register staffed.
I did see they are introducing a double bulgogi burger. Is that made with pork? Whatever it is, the single was revolting enough.
Some real bulgogi on a bun, perhaps with a little coleslaw on top like with Southern barbecue, might get my interest, though. But that would be far too creative for the Korean mind. |
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