K-Food Exports Reach $7.31 Billion from January to September... 'Rice Processed Foods' Hit Record High

The Ministry of Agriculture, Food and Rural Affairs announced on the 3rd that the cumulative export amount of agricultural and food products (K-Food) as of the end of September 2024 (provisional) reached $7.3075 billion, an 8.3% increase compared to last year.

An official from the Ministry explained, "Despite fewer working days compared to the same period last year due to the earlier Chuseok holiday, agricultural and food exports achieved the highest performance ever recorded by the end of September and showed growth for 13 consecutive months compared to the same period last year."

Top export items such as ramen, snacks, beverages, and rice-processed foods all recorded their highest export performance ever in September. In particular, rice-processed foods like frozen gimbap, instant rice, and tteokbokki were exported at $217.9 million, a 41.6% increase compared to the same period last year, surpassing last year’s year-end figure of $217.2 million. While the United States, the largest market for Korean rice-processed foods, showed significant growth, recent entries into global online platforms and large retail stores in China also raise expectations for future performance.

Ramen, the item with the highest export value, exported $103 million in September alone, surpassing $900 million in cumulative exports by the end of September. The region with the highest export growth is Latin America, especially Mexico, which imported more than twice the amount of Korean ramen compared to the same period last year. A Ministry official said, "Latin America is a region where we are promoting entry into new markets to diversify K-Food export markets," adding, "This is believed to be due to continuous promotion of the appeal of K-Food such as ramen through events like K-Food meal days at local companies and schools, as well as social media (SNS) challenges."

Fresh agricultural products had sluggish exports due to a shortage of supply in the first half of the year, but exports are increasing as the main shipping season begins in the second half. In particular, pears and grapes shipped from August saw a 15.6% increase in exports from August to September compared to the same period last year.

Kim Jong-gu, Director of the Agricultural Innovation Policy Office at the Ministry of Agriculture, Food and Rural Affairs, said, "In the fourth quarter, we plan to support export expansion through discovering and focusing on key strategic items by country and hosting domestic and international exhibitions," adding, "To achieve the highest year-end export performance for agricultural and food products, we will manage the quality and cold chain distribution system of export products and support participation in new market exhibitions and market tests to expand fresh agricultural product exports."