According to the Ministry of Agriculture, Food and Rural Affairs on July 6th, in the first half of this year, exports of agricultural products recorded the highest performance exceeding 4.1 billion dollars in the wave of the K-food craze even in the COVID-19 situation. Exports have increased in relatively new markets such as the New Southern and New Northern Policy (NSP and NNP) target countries as well as in the U.S., China, and Japan. Ginseng and kimchi, which are known to be good for boosting immunity, also had phenomenal sales.

In the first half this year, exports to Japan increased to 698.7 million dollars, 5.4 percent more, to China, 621.7 million dollars 19.2 percent, and to the U.S. to 634.6 million dollars, 13.6 percent. In addition, the NSP target countries recorded a 28.2 percent increase to 936.7 million dollars, while Russia and Central Asia of the NNP target regions recorded a high growth rate of 42.9 percent to 155.4 million dollars. The European Union rose 6.4 percent to 213 million dollars.

By category, fresh agricultural products rose 11.4% to 720 million dollars and processed foods rose 16.2% to 3.44 billion dollars. Among the main items, fresh agricultural products such as ginseng, kimchi, strawberries, and citron tea are included. In addition, processed foods such as noodles, snacks, beverages, sauces and rice foodstuff have increased.

The Ministry of Agriculture, Food and Rural Affairs explained, “In the U.S and China, the exports of beverages, snacks, coffee and sauces increased due to increased external activities followed by the increase of the COVID-19 vaccination rates.” On the other hand, Japan and the NSP target countries have seen an increase in demand for health foods and home snacks due to the spread of COVID-19.

Kim Jae-hyeong, director of the export promotion division at the Ministry of Agriculture, Food and Rural Affairs’ said, “We will  continue our achievements by implementing customized policies to help Korean farmers and exporters.” 

64th Edition of Weeklymonday (August 2, 2021)