South Korea's rice exports in 2020 increase 27% year-on-year to record high

Published Jan 11, 2021

Tridge summary

South Korea's Ministry of Agriculture, Forestry, Livestock and Food reported a record high in the export volume of processed rice food in 2020, with a value of 137.6 million US dollars, a 26.9% increase from the previous year. This growth is primarily due to the rising demand for convenience and rice-based foods during the pandemic, as well as the government's support for export companies. The demand for Korean rice-based foods in Asia, fueled by Hallyu culture, also contributed to the increase. The export value of rice cakes and other similar products rose by 56.7% year-on-year to 53.8 million US dollars. The export value of processed rice such as frozen fried rice and instant rice increased by 32.2% year-on-year to 45.9 million US dollars. The United States was the largest destination for these exports, with a value of 55.3 million US dollars, an increase of 53.3% year-on-year.

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

Original content

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 volume of processed rice food set the highest record since the beginning of relevant statistics, at 137.6 million US dollars, an increase of 26.9% year-on-year. The analysis pointed out that processed rice food The export situation is improving mainly due to the increase in market demand for convenience foods and rice-based foods during the epidemic, as well as the government’s active support for export companies. With the prevalence of Hallyu culture, the demand for Korean rice-based foods in Asia has also increased, such as rice cakes and other cakes. The export value of this category increased by 56.7% year-on-year to 53.8 million U.S. dollars. Under the epidemic, the demand for convenience food in the United States and other places soared. The export value of processed rice such as frozen fried rice and ...

Source: Foodmate