Latest Market News

South Korea acts to curb spread of African swine fever

  • : Agriculture
  • 24/01/19

South Korea has ordered the temporary suspension of movement of pigs, related vehicles and workers from 18 January to prevent the spread of African swine fever (ASF).

This came after the country's first ASF case this year occurred at a pig farm with 480 animals in North Gyeongsang province's Yeongdeok county on 15 January, according to the agriculture ministry (Mafra). Mafra also confirmed the avian influenza at three large-scale hen farms in January. This had earlier prompted Yeongdeok as well as neighbouring Daegu city and Gyeongbuk province to temporarily suspend transportation over 16-18 January.

The approaching lunar new year period is typically the peak demand season for livestock products, including pork. Mafra will raise supply of South Korean pork and South Korean beef by an average of 40pc during this period as well as provide discounts up to 60pc, to stabilise supply and prices. Mafra expects supply and demand for pork to be generally stable.

South Korea is the world's ninth-largest pork consumer at 2.09mn t in 2023, according to the OECD. The country imported an average of 376,734 t/yr of pork over 2019-2022, a US Department of Agriculture report released in April 2023 showed. This translates to imports meeting about 20pc of the country's pork demand.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more