Agricultural Exports Reach All-time High through September

A customer looks at shelves of instant noodles, or ramyeon in Korean, at a major discount chain store in Seoul on Sept. 18, 2024. (Image courtesy of Yonhap)

SEOUL, Oct. 3 (Korea Bizwire) — South Korea’s exports of agricultural products reached a record high during the first nine months of 2024, led by strong demand for instant noodles, snacks and beverage products, data showed Thursday.

Outbound shipments of agricultural goods rose 8.3 percent on-year to come to US$7.38 billion in the January-September period, according to the Ministry of Agriculture, Food and Rural Affairs.

It marked a record for any nine-month figure, it added.

The growth was mainly led by strong demand for instant noodles, or “ramyeon” in Korean, as their exports jumped 29.6 percent on-year to $938 million, a record high.

Last year’s total ramyeon exports were $952 million.

Exports of snacks gained 15.5 percent on-year to $560 million during the January-September period, and those of beverage products climbed 13.6 percent to $557 million.

Processed rice products, such as gimbap, cooked rice and tteokbokki, soared 41.6 percent to $217.9 million, which already surpassed last year’s total sales of $217.2 million.

Sales of fresh farm produce, including fruits, however, shed 0.6 percent to $1.09 billion due mainly to supply shortages.

By destination, exports to the United States rose 20.8 percent to $1.16 billion during the nine-month period, and shipments to China added 5.2 percent to $1.09 billion.

Sales in the European market also advanced 27.4 percent to $561 million, the ministry said.

(Yonhap)