Beef has become a luxury food in
A strong currency and high import duties have coupled to create the distinction, but the continued absence of
“It’s a dubious honor,” said Phil Seng, USMEF president and CEO. “South Korean consumers are now paying the highest prices for average quality beef, in part because of overly strict import policies toward safe
USMEF calculated recent U.S. dollar equivalent prices of two common grain-fed beef items in
For domestic Hanwoo and Wagyu A2 loin of equivalent quality wholesale prices were US $26.05 per kg and US $23.83 per kg. In large supermarket chains, Seoulconsumers are paying on average of US $31 per pound for sliced chuck roll while Japanese shoppers can buy equivalent product for $21 per pound.
USMEF estimates that beef consumption in