In April 2024, agricultural and food exports amounted to $3.12 billion and continued to rise.
The Ministry of Agriculture, Food and Rural Affairs (Minister Song Mi-ryeong, hereinafter referred to as the Ministry of Agriculture, Food and Rural Affairs) announced that the cumulative agricultural and food (K-Food) export amount (provisional) as of April 2024 has reached $3.12 billion, a 6.2% increase from last year. As of the end of March, the increase, which was 3.4% compared to the previous year, has become even steeper.
* Agricultural and food exports: (2015) 6.1 billion dollars → (2019) 70.3 → (2023) 91.6 (50.2%↑ compared to 2015)
(April 2023) 28.7 → (April 2024) 31.2 (6.2%) ↑)
By market, exports are increasing from the US, ASEAN, and Europe. In the United States, the largest export market, the consumer market was revitalized following economic stabilization, resulting in an overall increase in exports of major items such as ramen, processed rice foods, beverages, snacks, and kimchi.
The ASEAN region grew by 5.0% as awareness of K-Food increased due to the spread of the Korean Wave and sales expanded through new distribution channels such as convenience stores. The European market, which is showing the highest growth (up 33.1%), is analyzed to be affected by the Korean Wave and consumption recovery. On the other hand, in China, there was a decline compared to the previous year due to the continued slump in consumption, but the decline was somewhat eased (△1.8%) compared to last month (△7.2%). In the case of Japan, it was revealed that there was a △5.7% decrease compared to the previous year due to the accelerating weakening of the yen and uneasy consumer sentiment.
* Export amount (change rate) by major market: (US) 479 million dollars (15.9%↑), (Japan) 452 (△5.7), (China) 440 (△1.8), (ASEAN) 631 (5.0↑), (EU) ·UK) 231(33.1↑), (GCC) 87(△13.5)
Looking at each item, the growth of major export items such as ramen, processed rice foods (including gimbap), beverages, and kimchi was notable. In particular, ramen is showing explosive growth in the United States and Europe due to aggressive marketing linked to Korean Wave content and the resolution of safety issues in Europe. Rice processed foods such as instant rice and frozen gimbap are also steadily growing thanks to interest in healthy food and the Korean Wave. In the case of kimchi, growth continues as interest in plant-based and fermented foods increases.
* Export amount (change rate) by major item: Ramen (USD 379 million, 34.4%↑), processed rice food (88, 42.1↑), snacks (227, 9.9↑),
beverages (212, 15.9↑), grapes (10, 20.4) ↑), kimchi (57, 6.8↑)
* Export amount by country: [Ramen] (China) 66 million dollars (9.5%↑), (USA) 64(83.0↑), (Europe) 65(46.8↑)
[Rice processed food] (USA) 49 million dollars (57.6%↑) ), (ASEAN) 10 (6.6↑), (Europe) 7 (65.0↑)
[Kimchi] (US) $16 million (27.6%↑), (Europe) 8 (46.9↑), (Canada) 2 (35.7↑)
Meanwhile, the Ministry of Agriculture, Food and Rural Affairs is communicating closely with companies to continue to expand agricultural and food exports and is actively pursuing collaboration with other ministries to resolve on-site difficulties. We are discovering and resolving difficulties through close management, including one-on-one interviews, with the top 100 export companies, and are also strengthening and operating the export information desk function of the Korea Agro-Fisheries and Food Trade Corporation (aT), an agricultural and food export support agency. The Export Information Desk was established in 2023 as a window to provide export support information to companies and to frequently receive and resolve corporate difficulties. To provide faster service, we are preparing to open a mobile messenger open chat room. As of the end of April, 67 of the 101 difficulties received through interviews with export companies and the export information desk have been completed with measures such as providing information, and issues that are difficult to resolve immediately are planned to be resolved through collaboration with ministries.
* Major difficulties: Requests for marketing support, requests for food regulation information, requests for support in responding to imitation products, etc.
In order to solve tasks that require inter-ministerial collaboration, such as easing food safety regulations and developing overseas markets, we have formed a “pan-ministerial council for the expansion of K-Food + exports” and are discussing ways to collaborate. Major tasks being discussed include cross-border discussions on safety standards for processed livestock products (Ministry of Food and Drug Safety), finding overseas buyers (Ministry of Trade, Industry and Energy), Korean Wave marketing (Ministry of Culture, Sports and Tourism), and responding to K-Food imitation products (Korean Intellectual Property Office). The Ministry of Agriculture, Food and Rural Affairs plans to hold a council meeting once a month to check the progress.
Kwon Jae-han, head of the Agricultural Innovation Policy Department at the Ministry of Agriculture, Food and Rural Affairs, said, “Thanks to the efforts of our exporting farmers and companies, agricultural and food exports are continuously increasing.” He added, “The government will strengthen collaboration between relevant ministries to actively resolve difficulties at the export site. “We will make every effort to expand our export territory by supporting the discovery of new products and market development so that agricultural and food exports can continue to grow steadily in the future,” he said.
Editor Jun Beom
