Food exports up 8.7 pct through Aug. on instant noodles, rice products: data

All News 11:00 September 03, 2024

SEJONG, Sept. 3 (Yonhap) -- South Korea's exports of food products over the first eight months of 2024 increased 8.7 percent from a year earlier on the back of robust shipments of instant noodles and processed rice products, data showed Tuesday.

Outbound shipments of processed and fresh foodstuffs reached US$6.47 billion over the January-August period, compared with $5.95 billion tallied a year earlier, according to data compiled by the Ministry of Agriculture, Food and Rural Affairs.

By product, exports of instant noodles shot up 31.7 percent to hit $800 million, marking a record amount for the period.

Processed rice products also gained 41.7 percent on-year through August to $189 million following the global popularity of frozen gimbap, or seaweed rice rolls.

Exports of snacks and beverages rose 15.4 percent and 13.6 percent, respectively, during the period.

Shipments of fresh produce, however, edged down 0.6 percent to $967.6 million due to unfavorable weather conditions, the ministry added.

By destination, exports to the United States jumped 22.8 percent to $1 billion amid the popularity of instant noodles and processed rice products on social media platforms.

Exports to Southeast Asia also added 5.9 percent to $1.2 billion, with those to the European Union and Britain moving up 30.5 percent to $458.6 million, the data showed.