South Korea has lifted its ban on live hog imports from North America imposed in April out of fear surrounding the H1N1 flu outbreak. According to National Pork Producers Council President Don Butler, Korea is a top market for U.S. pork exports and an important destination for swine breeding stock.
In 2008, South Korea was the sixth largest market for U.S. pork, with exports valued at $284 million. The country also ranked as a top destination for U.S. live hogs last year, with exports of $1.1 million. During the first five months of 2009, exports to Korea were down 10% by volume and 7% in value.
The U.S. pork industry since September 2007, has lost nearly $4.5 billion, and producers have lost an average of more than $21 per hog marketed. While high production costs are the primary culprit for the industry’s economic woes, restrictions on U.S. pork and hog exports by a number of countries due to H1N1 concerns exacerbated the problems.
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