Beef Import Talks Will Begin Next Week

The first round of negotiations between Korea and the U.S. to discuss the resumption of beef imports from America is scheduled to take place on January 9-10.

According to the Ministry of Agriculture and Forestry and the Nonghyup Central Association yesterday, a senior working-level delegation including officials from the U.S. Department of Agriculture and the Office of the U.S. Trade Representative will visit Korea on those days and begin beef import negotiations.

A government official said that the Korean government planned to open the first round of negotiations in the middle of this month. However, the U.S. suggested moving up the negotiating date. Because of that, the scheduled has been somewhat changed. It is known that the U.S. requested the resumption of imports of beef less than 30-months old and “LA ribs,” which are popular in Korea.

Meanwhile, beef prices are dropping as Korean farmers have put cows on the market in advance in preparation for the resumption of American beef imports.

The Nonghyup Central Association said that the daily average number of cows that go out from Nonghyup’s Seoul Livestock Products joint market significantly increased from 267 in October 2005 to 310 in November to 440 in December.

As the supply increases, the price for a Korean bull (weighing 500kg on average) plunged from 4,460,000 won on average in October 2005 to 4,130,000 won on average in November to 3,700,000 won in late December.

Joong-Hyun Park sanjuck@donga.com