News

Colombia’s seaweed market trends in South Korea

Frozen Seaweed
South Korea
Market & Price Trends
Published Apr 20, 2024

Tridge summary

The demand for Korean seaweed in Colombia has significantly increased in 2023, with a notable 8.4% rise in imports, challenging the dominance of Chinese seaweed in the market. Despite facing hurdles such as complex export procedures requiring extensive documentation for certifications and permits, Korean exporters benefit from the Korea-Colombia Free Trade Agreement, which allows tariff-free entry of their seaweed products. This advantage, coupled with the global surge in popularity of K-food and strategic pricing, positions Korean seaweed competitively in Colombia. The article emphasizes the potential for market expansion, particularly in the snack seaweed sector, and suggests focusing on price competitiveness and the efficient preparation of export documents to capitalize on the growing demand and favorable trade conditions.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Demand for Korean products increases, but export procedures are somewhat complicated Imports from Korea have continued to increase over the past five years. Imports in 2023 will increase by 8.4% compared to the previous year. Chinese seaweed market share partially replaced by Korean seaweed Most of the domestic companies’ competitors are Chinese. Conditions for exporting seaweed to Colombia are strict To export seaweed, 6 types of approval and certification documents are required. It takes several months or more to receive documents. However, you can get help from an import agent, etc. How can domestic companies succeed? More expensive than Chinese products... Consider price competitiveness Snack seaweed has a good response, so it is desirable to dominate the market. It should be actively utilized as an advantage, such as tariff-free application. As the Korean Wave spreads globally, awareness of K-food is also increasing. Although exports to Colombia have only recently begun, we ...
Source: Fisheco
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