South Korea’s agricultural and food exports in 2020 hit a record high of nearly US$7.6 billion
By: Date: 2021-01-05 Categories: Internationalfood Tags: ,
Yonhap News Agency, Seoul, January 5 According to data released by the Ministry of Agriculture, Forestry, Livestock and Food of South Korea on the 5th, preliminary statistics show that in 2020, the annual export of agricultural food will reach 7.57 billion US dollars, an increase of 7.7%year-on-year, a new high since the beginning of relevant statistics.

   Specifically, thanks to the high exports of kimchi and ginseng products, the export of fresh agricultural food increased by 3.4%year-on-year to US$1.43 billion. The export of kimchi for the year increased by 37.6%year-on-year, reaching 144.5 million US dollars. Due to the spread of the epidemic, consumers are paying more attention to health products, pushing up the export of ginseng products to China, the United States, and Japan, with the export value of 229.8 million US dollars. The export growth of grapes (32.8%) and grapefruit tea (31.9%) is also relatively obvious.
  In terms of processed foods, the export of instant noodles, processed rice foods and other fast foods increased significantly, with a total increase of 8.8%year-on-year to US$6.14 billion. Thanks to a targeted marketing strategy, instant noodle exports exceeded $600 million for the first time. Among the processed rice foods, instant rice, fried rice cakes, instant porridge and other fast foods were very popular. Exports to the United States increased by 26.7%year-on-year to US$137.6 million, a record high. In addition, as foreign consumers pay more attention to Korean food culture, exports of sauces increased by 30.6%to 99.9 million US dollars.
   From the perspective of export destinations, the United States and Southeast Asia have seen significant growth. In terms of exports to the United States, the export of fresh foods and processed foods such as instant noodles, kimchi, and processed rice foods have all increased, and the growth rate has continued to exceed 30%since March last year. The overall export scale has reached 1.21 billion US dollars, a sharp increase 38%. Southeast Asian countries are the”New Southern Policy”. Under the promotion of Hallyu marketing, Korean cuisine using instant noodles, chili sauce and other cooking methods are very popular. The export value of related products increased by 9.1%year-on-year to US$1.56 billion. In addition, exports to China increased by 2.9%year-on-year, and the export value was US$1.138 billion. (End)