SASKATOON – The Saskatchewan Stock Growers Association (SSGA) is welcoming a free trade deal between Canada and South Korea that it hopes will increase beef exports to the Asian country.
South Korea used to be the fourth largest market for Canadian beef producers.
“This agreement opens the door to rebuilding what was a $40 million market for Canadian beef prior to the BSE crisis of 2003,” said SSGA president Harold Martens.
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South Korea imposed barriers in the wake of the crisis before lifting them in 2012, but a 40 per cent tariff on fresh and frozen beef remained in place.
The free trade deal will see those tariffs lifted over a 15-year period.
Tariffs on fats and tallows will be fully eliminated as soon as the agreement comes into effect while the current 18 per cent duty on offals will be eliminated over the next 11 years.
“Having the ability to get every piece of the animal to its highest value market will help maximize prices at the farm gate here in Saskatchewan,” added Martens.
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