South Korea’s import tariff suspension could boost Brazilian pork exports

According to the Brazilian Animal Protein Association (ABPA), Brazilian pork exports could benefit from the announcement of South Korea to create zero-tariff import quotas for purchases from abroad this week.

South Korea, a major destination for Brazilian chicken meat exports and one of the world’s leading pork importers, should release a quota of 50,000 tonnes free of import charges beginning in June.

The quota is open to all countries that have plants authorized to export to the South Korean market, including Brazil. Currently, only producing units in the state of Santa Catarina (which until recently was the only federative unit recognized as free of foot-and-mouth disease without vaccination) are authorized to ship pork to the Asian country.

Paraná and Rio Grande do Sul shall soon be recognized by South Korea as states free of foot-and-mouth disease without vaccination, as the World Health Organization for Animal Health recently did.

See below the track record of Brazilian exports of pork and poultry meat to South Korea from January 2021 to April 2022. These data are from DataLiner.

Pork and Poultry Meat Exports to South Korea | Jan 2021 – Apr 2022 | TEUs

Source: DataLiner (click here to request a demo)

The announced measure is part of a series of tariff suspensions announced by the South Korean government as “Stabilization of the cost of living and food” (free translation) to reduce inflationary impacts.

According to Ricardo Santin, president of the Brazilian Association of Animal Protein (ABPA), the measure might positively impact pork shipment from Brazil to the Asian country.

“The quota is an opportunity to generate important foreign exchange for the productive sector, facing great difficulties,” analyzes Santin.

South Korea imported 2,600 tonnes between January and April, 85.5% more than in the same period last year. Sales to the market generated revenue of US$ 7.2 million in the first four months of this year, a number 133% higher than that achieved in the same period of 2021.

Sources: Notícias Agrícolas

To read the full original article, please go to:

https://www.noticiasagricolas.com.br/noticias/granjeiros/318458-abpa-suspensao-de-tarifas-de-exportacao-da-coreia-do-sul-pode-impulsionar-importacoes-brasileiras-de-suinos.html#.YpdxUKjMLIU

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