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ANALYSIS: Korea's 2024 Safeguard on Australian Beef Kicks In, 43 Days Earlier Y-o-Y

As of 24th October, Australian beef imports into Korea has exhausted its 2024 Special Agricultural Safeguard (SSG) volumes, according to the Korea Customs Service website.

Imports exceeding this volume now incur a tariff rate of 24.0% for the remainder of the year, up from the current rate of 10.6%. This activation occurred significantly earlier than last year’s 8th December 2023 trigger date, representing a difference of approximately 43 days.

Just earlier on 14th October 2024, Meat and Livestock Australia (MLA) has reported that Australia had...

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