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US Gov't: S. Korea's Imports of US Beef to Drop 10% This Year

Written: 2012-09-18 08:18:38Updated: 2012-09-18 09:29:05

US Gov't: S. Korea's Imports of US Beef to Drop 10% This Year

The U.S. government has forecast that South Korea’s imports of U.S. beef will drop around ten percent this year.

The U.S. Department of Agriculture estimated in an annual report released on Monday that South Korea will import around 385-thousand tons of American beef this year, down ten-point-seven percent from last year.

The report based its projection on the fact that U.S. beef imports fell following a rise in domestic beef production in South Korea. The report added that the effectiveness of a rise in U.S. beef imports resulting from the South Korea-U.S. free trade agreement was meager.

However, the report projected that next year, South Korea’s imports of U.S. beef will expand seven-point-eight percent to 415-thousand tons.

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