In the last two quarters of 2019, pork imports were down 10% and 19%, respectively.
Pork imports in South Korea have dropped over the last six months of 2019 due to the ASF psychological impact o the consumer. Last year, South Korea imported 525,000 tonnes of fresh and frozen pork, 8% less than the previous year, with the last two-quarters figures reflecting the largest decline of 10% and 19%, respectively. At the same time, retail market prices have declined, according to a Gira foodservice report. Top 3 suppliers most impacted by the changing trend in consumption were the United States (-17%), Germany (-18%) and Spain (-29%). The one exception was Canada, which increased its pork exports to South Korea by 33%, probably trying to cover losses of a 6-months ban in the Chinese market.
South Korea has a 66% self-sufficiency in pork production but, after the ASF outbreak, almost 400,000 pigs were killed wich will lead to a decline of 4% in output for 2020. Despite the current trend, Gira is forecasting import demand to increase this year.
