Australia to benefit from South Korea’s cattle shortage
28/09/2015
Reuters reports this has forced many small farmers forced out of business and pushed local beef prices up 35%.
Almost all of the beef cattle population in South Korea is Hanwoo, high-quality cattle producing expensive beef.
Local people are finding imported beef more affordable, and Australia is likely to be the biggest benefactor from the rising demand.
"High prices for domestic beef will boost imports further next year," said Lee Hyung-woo, a research associate at the Korea Rural Economic Institute.
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