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February 12, 2013
2013.02.12
1. LIVESTOCK ISSUES
Retailers are pocking the bulk of profit in selling beef [Korean: BYK]
http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=102&oid=034&aid=0002466037
Summary: Most people think that the reason for high beef prices is due to the profit margin of the middlemen. However, in reality, the bulk of the profit is ending up in the hands of the retailers. Live cattle is auctioned off at about 5 million won and is resold to the processors at about 6 million won. The processors fabricate the carcasses and add on about 5 percent of margin. However, when this goes into the hands of the retailers and major discount stores, the price jumps to 10 million won. This is why some fop the producers are seeking a direct sales channel from the producer to the consumers without going through the retailers.
2. OTHER MISCELLANEOUS ISSUES
Korean Oyster Exports to the United States to be Resumed [Korean: BYK]
http://www.foodnews.co.kr/news/articleView.html?idxno=43651
Summary: MIFAFF announced that FDA had decided to allow the resumption of Korean shell fish exports to the United States as of February 8, 2013.
The information in this report was compiled by the Agricultural Trade Office (ATO) at the U.S. Embassy in Seoul, South Korea. The press summaries contained herein do NOT reflect USDA, the U.S. Embassy, or other U.S. government agency official policy or view point. U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul's Exporter Guide and other reports available at www.fas.usda.gov by clicking on "attaché report".
Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov