IARN — South Korea is currently the largest value market for U.S. beef exports as shipments are on pace to possibly reach $3 billion in 2022. However, rising food prices are a growing concern in Korea, which is causing the government to take steps to try to ease the burden on consumers. Part of that effort is Korea’s recent opening of a 100,000 metric ton duty-free quota on imported beef, open to all eligible suppliers. U.S. Meat Export Federation (USMEF) Vice President for Economic Analysis Erin Borror explains that the quota includes 25,000 mt of chilled beef and 75,000 mt of frozen beef- two categories in which the United States is the largest supplier.
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