Yonhap News Agency, Seoul, January 10th. South Korea’s Ministry of Agriculture, Forestry, Livestock and Food released preliminary statistics on the 10th. In 2020, the export value of processed rice food set a record since the beginning of relevant statistics, at 137.6 million US dollars, an increase of 26.9%year-on-year.
Analysis pointed out that the improvement in the export situation of rice processed foods is mainly due to the increase in market demand for convenience foods and rice-based foods during the epidemic, and the government’s active support for export companies.
With the prevalence of the Korean Wave culture, the demand for Korean rice-based foods in Asia has also increased. The export value of rice cakes and other cakes soared by 56.7%year-on-year to 53.8 million US dollars. Under the epidemic, the demand for convenience food in the United States and other places has soared. The export value of processed rice such as frozen fried rice and instant rice increased by 32.2%year-on-year to US$45.9 million.
In terms of export destinations, the largest export value to the United States was 55.3 million US dollars, followed by Japan, Vietnam, and China. Among them, exports to the United States increased by 53.3%year-on-year, accounting for 40.2%of total rice processed food exports. (End)