With domestic hog production reduced 28.6 percent (January-to-July) because of foot-and-mouth disease losses, the South Korean government is stimulating pork imports with a duty-free Tariff Rate Quota. To curb soaring consumer prices, the government is also subsidizing the difference in costs between air freight and ocean freight for chilled pork bellies, reported U.S. Grains Council Director in Korea Byong Ryol Min.

The result is a 91.5 percent increase in Korean pork imports this year, according to Korean customs data. Among major suppliers, the United States gained the largest share of the increase. U.S. sales are up 141.5 percent and the U.S. share of Korea’s pork purchases increased from 27.7 to 35 percent.