SEOUL, Oct. 6 (Korea Bizwire) — Sales of Makgeolli, a Korean rice wine, have decreased for three consecutive years after experiencing a boom several years ago.
According to a report from the Statistics Korea on October 4, the volume of Makgeolli consumed domestically in the second quarter was 8,8000 ㎘, 3.1 percent down from the same period a year earlier.
The consumption of Makgeolli has been diminishing for three consecutive years since the second quarter of 2014.
Domestic consumption of Makgeolli recorded double-digit growth every quarter since the fourth quarter of the year 2008. However, the upward trend came to an end in the first quarter of the year 2012.
Domestic consumption has kept posting negative growth since then, and the extent of negative growth amounted to -7.7 percent in the third quarter of the year 2015.
Makgeolli enjoyed great but brief popularity in the mid 2000’s, as much attention was paid to fermented drinks and food.
Makgeolli’s popularity is declining not only in the domestic market but also overseas.
Exports of Makgeolli in the second quarter of this year decreased to 2,000 ㎘, 17.5 percent down from the previous year.
The volume of Makgeolli exported has dropped since the first quarter of the year 2012, which recorded negative growth for the first time (-18.7 percent).
The downward trend contrasts with 200 to 300 percent growth in 2010.
The export volume for the second quarter of this year is equivalent to one fifth of the export volume (11,000 ㎘) in the second half of 2011.
Soju, regarded as a working class beverage along with Makgeolli, is also experiencing a similar decline.
Lina Jang (email@example.com)