South Korea to lift import tariff on chilled pork

03/08/2011 12:00 - 408 Views

South Korea will not impose any tariff on imports of chilled pork for food processing through 30 September, in order to ease the tight supplies of raw pork due to foot-and-mouth outbreak last year.

The new rule will take effect later this week once it receives the presidential approval, Reuters reported. The government earlier said a combined of 260,000 tonnes of frozen and chilled pork can be imported without any tariffs. However, imports of chilled pork for processing above that amount were subject to a 22.5% tariff.

South Korea last year imported 4,655 tonnes of chilled pork for food processing, the report said. The government will also not impose import tariffs on bananas, pineapples, cabbages and radishes through the end of September. The outbreak of foot-and-mouth disease generated a loss of about $2.86bn to the country's pork industry.

02 August 2011
Source: food-business-review.com