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November 17, 2007
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| WASHINGTON ― American beef exporters on Thursday lamented the billions of U.S. dollars in losses from a restricted Korean market and called on the two governments to rectify inspection standards. In a hearing called by the International Trade Commission, the National Cattlemen’s Beef Association said U.S. beef exports to Korea this year would have reached $1.5 billion. “Constrained by Korea’s beef ban, the United States lost estimated exports of 1.5 million metric tons valued at $4.8 billion from 2004 to 2007,” the association said. The U.S. incurred additional losses by having to retain beef on the domestic market that otherwise would have been sold overseas, it said. “All told, Korea’s ban on U.S. beef due to BSE [mad cow disease] has likely cost U.S. beef producers, feedlots and processors somewhere in the neighborhood of $7 billion in revenue over the past four years.” Detection of BSE, or bovine spongiform encephalopathy, more commonly known as mad cow disease, at a cattle farm in Washington state in December 2003 prompted Korea to stop imports of U.S. beef. Seoul partially lifted the restrictions in January 2006, allowing imports of boneless products to minimize health risks, but suspended imports last month after repeated discoveries of bone fragments in U.S. shipments. The U.S. is demanding a full market reopening, citing a finding earlier this year by the World Organization for Animal Health that most American beef products are safe for export. Thursday’s hearing was initiated by the Senate Finance Committee, one of the bodies involved in endorsing the the U.S.-Korea Free Trade Agreement. Yonhap |
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