K-foods and fermented foods are the most popular in kimchi exports in the first to third quarters

Published 2020년 10월 6일

Tridge summary

Despite the slowdown in Korean exports due to the COVID-19 pandemic, agri-food exports experienced a 6.5% increase in the third quarter, reaching a total of $5,519 billion. This growth is primarily due to the record-breaking exports of kimchi, which surged by 38.5% to $18.5 million, diversifying the export destinations beyond Japan. The US saw a significant increase in kimchi imports, among other agri-food products. Furthermore, the exports of pastes like red pepper paste, soybean paste, and soy sauce also saw notable growth. In anticipation of increased grape exports, the Ministry of Agriculture and Food is establishing a low-temperature distribution system and registering a joint brand overseas trademark to boost exports of Shine Muscat grapes and ginseng, with a focus on improving farmers' income.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Seoul = Yonhap News) Reporter Eunji Go = Korean exports were generally sluggish in the aftermath of the novel coronavirus infection (Corona 19), but exports of agri-food were good. In particular, exports of kimchi reached a record high. The Ministry of Agriculture, Food and Rural Affairs announced on the 6th that the cumulative agri-food exports for the third quarter were tentatively counted to $5,519 billion, an increase of 6.5% from the same period last year. By item, exports of fresh agricultural products turned to an increase in two months due to the increase in exports of kimchi and recovery in exports of fruit products, while the growth of noodles and sauces for processed foods recorded the highest growth rate of the year (8.0%). By country, export growth to the US (41.2%) surpassed 40% for the first time, and China (2.1%) also maintained an increase. However, Japan (-6.8%) continued to decline. Kimchi exports $18.5 million, an increase of 38.5% from the first to third ...

Source: Yna