Agricultural and Food Exports Reach $8.2 Billion... Record High for October

Rice Processed Food Export Value Surges 41.9%

This year, South Korea's agricultural and food exports reached $8.2 billion as of the end of last month, marking the highest performance ever recorded by the end of October. Exports increased in the United States and Europe, with notable export achievements in rice processed foods and ramen categories.

The Ministry of Agriculture, Food and Rural Affairs announced on the 5th that the cumulative export amount of agricultural and food products (K-Food) this year (provisional) reached $8.19 billion as of the end of last month, an 8.7% increase compared to last year. This marks 14 consecutive months of year-on-year growth, representing the highest performance ever recorded by the end of October.

By export item, rice processed foods such as frozen gimbap, instant rice, and tteokbokki showed a remarkable increase, with export revenue of $250 million, up 41.9% from the same period last year. Exports to the largest market, the United States, surged by 55.9% to $150 million, and exports to China increased by 40.2% to $8 million due to new frozen gimbap exports.

Ramen, the item with the highest export revenue, recorded $1.02 billion, a 30.0% increase. The Ministry of Agriculture, Food and Rural Affairs explained, "Ramen continues to grow in Europe as well as in China and the United States, the largest importers," adding, "Exports to Central and South America, a new market, increased by 70.9% compared to the same period last year."

Exports of fresh foods increased by 0.5% year-on-year to $1.24 billion. Among detailed items, kimchi ($135 million, up 3.1%) and yuzu ($480 million, up 2.3%) showed export growth, while grapes ($330 million) saw an export growth rate of 24.0%.

By export market, the United States ($1.31 billion) and Europe ($560 million) showed remarkable growth, increasing by 22.1% and 26.1% respectively compared to the same period last year. Exports to China ($1.25 billion, up 6.9%) and ASEAN ($1.57 billion, up 5.3%) also increased.

Yang Ju-pil, Food Industry Policy Officer at the Ministry of Agriculture, Food and Rural Affairs, said, "Despite uncertainties in the international situation such as the Middle East crisis and the U.S. presidential election, we will encourage the expansion of K-Food's overseas retail store entries through buyer invitation consultation meetings and other events," adding, "we will expand year-end online and offline promotions and publicity to achieve the highest export performance."