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US beef exports set monthly records in Taiwan & South Korea

The latest Monthly Trade Data from the USDA shows beef exports in August were the best they’ve been in the US since the start of the coronavirus pandemic. 

Dan Halstrom, president and CEO of the US Meat Export Federation says US beef exports to Taiwan hit a record in August. “We’re seeing foodservice not only back to normal in Taiwan, but probably exceeding where we were pre-COVID,” he says.  “And of course retail continues to grow in Taiwan as well and US beef dominates the chilled import market share with an excess of 80 percent share.”

He says South Korea also imported a record amount of US beef for August despite a more challenging foodservice environment.  “We are still seeing a rebound in foodservice overall, but we were hoping it would be quicker,” he says.  “Meanwhile, the real success story in Korea has been the retail environment and the online digital platform.  Business is absolutely booming.  And US beef has been well-positioned to take advantage of that.”

Halstrom says demand for US beef is seeing an additional boost as Australia has tightened its export supplies of beef.

According to USDA data, August was the first month beef exports had a year-over-year increase since the coronavirus pandemic hit the US.