S. Korea's food product exports hit record high in first quarter

Seoul [South Korea], July 6: In the first half of this year, Korea's exports of agricultural and fishery products hit a record high.
The Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries announced on the 5th that exports of agricultural and fishery products increased 14.6% year-on-year to $6.21 billion (about 8.05 trillion won) in the first half of the year.
Exports of agriculture and fisheries products amounted to $4.5 billion and $1.71 billion, respectively, hitting the first-half highest ever.
Agricultural food exports increased with the steady popularity of Korean foods despite the recent market uncertainties such as the prolonged Ukraine crisis and global supply chain disruptions.
By item, ramen ($383.7 million), snacks ($314.6 million), beverages ($277.9 million) and rice processed foods ($90.4 million) led overall export growth.
Ramen products were in various countries, mainly in the main consumer Vietnam. Various global distribution channels such as large super markets, convenience stores, and online malls also contributed to increased exports.
Demand for beverages also increased as outdoor activities have expanded, mainly in Southeast Asian countries. In particular, exports of healthy drinks such as aloe drinks, fruit syrup, and tea products have increased.
As interest in Korean food culture have continue to increase in the U.S., exports of rice processed foods such as instant rice, tteokbokki, and makgeolli have increased.
Exports of fishery products, including seaweed ($375.9 million), mero fishes ($56.4 million), and abalone ($29 million dollars), have increased.
In particular, Korean seaweed is expected to exceed $700 million in annual exports for the first time as a single fishery food item. In addition, exports of abalone have also increased as the interest in healthy foods has grown in Japan and Vietnam.
As global logistics disruptions have continued, the Agriculture Ministry will operate ships dedicated for agricultural products and cargo air for strawberries in cooperation with national.
Source: Global Economic