Exports of Korean Agri-food Products Continued on Growth Path in Q3 2024

Sejong, 4 October 2024 — The Ministry of Agriculture, Food and Rural Affairs (MAFRA) announced that the cumulative value of exports of Korean agri-food products at the end of September in 2024 reached USD 7.3075 billion (tentative figures), up by 8.3% from a year earlier. 

* Agri-food products mean processed and non-processed food products, excluding aquatic food products. 

<Yearly Cumulative Export Value of Korean Agri-food Products>

• USD 6.7455 billion in September 2023 → USD 7.3075 billion in September 2024 (up by 8.3%)

The export value of the most exported items—ramyeon, biscuits and confectionery, beverages, and processed rice-based products—reached a record high in September 2024. Notably, processed rice-based products, such as pre-cooked frozen kimbap (Korean seaweed rice rolls), pre-cooked rice products, and tteokbokki (spicy stir-fried rice cakes), showed a 41.6% increase in exports from a year earlier to reach USD 217.9 million. This figure exceeds the export value recorded at the end of last year (USD 217.2 million). Processed rice-based products saw a large increase in exports to the U.S. market, with USD 126 million, up by 58% from a year earlier. Exports of processed rice-based products are expected to rise in global markets, as those products have entered online platforms targeting global markets as well as large retail stores in China. 

<Yearly Cumulative Export Value of Processed Rice-based Products until the End of September 2024>

• USD 153.9 million in September 2023 → USD 217.9 million in September 2024 (up by 41.6%)

• USD 217.2 million at the end of 2023 

<Yearly Cumulative Export Value of Processed Rice-based Products by Markets until the End of September 2024>

• Exports to the U.S.: USD 126 million, up by 58% from a year earlier

• Exports to the EU: USD 17 million, up by 72.4% from a year earlier

• Exports to Vietnam: USD 12 million, up by 10.3% from a year earlier

• Exports to China: USD 6 million, up by 23.8% from a year earlier

Ramyeon, claiming the first place on the list of top export items, reached USD 103 million in the monthly export value in September alone, bringing the yearly cumulative export value at the end of September to more than USD 900 million. The largest export growth in ramyeon was made in Latin America and the Caribbean, with Mexico having imported Korean ramyeon more than twice as much as last year’s import value. This is attributable to the MAFRA’s effort to promote the charms of Korean food products such as ramyeon. Such promotion activities include a K-food event for students and employees at the cafeterias of schools and companies and a challenge event on social media platforms. 

<Yearly Cumulative Export Value of Ramyeon until the End of September 2024>

• USD 697.2 million in September 2023 → USD 903.8 million in September 2024 (up by 29.6%)

• USD 952.4 million at the end of 2023 

<Yearly Cumulative Export Value of Ramyeon by Countries until the End of September 2024>

• Exports to China: USD 181 million, up by 19.6% from a year earlier

• Exports to the U.S.: USD 158 million, up by 62.5% from a year earlier

• Exports to Mexico: USD 11 million, up by 122.6% from a year earlier

<Yearly Cumulative Export Value of Ramyeon by Regions until the End of September 2024>

• Exports to the EU: USD 153 million, up by 49.8% from a year earlier

• Exports to the ASEAN region: USD 146 million, up by 16.5% from a year earlier

• Exports to Latin America and the Caribbean: USD 19 million, up by 64.4% from a year earlier

Non-processed food products are showing an increasing trend in exports in the second half of this year. Exports of pears and grapes, supplied to the domestic market starting from August, increased by 15.6% in the period of August to September, compared to the same period of last year. This is attributed to the twofold increase in exports to Taiwan, driven by the production of high-quality grapes. As Korean pears account for a large share of exports of non-processed food products, the MAFRA plans to expand the exports of pears to major markets such as the U.S. and Vietnam. 

<Cumulative Export Value of Pears and Grapes>

• USD 28.9 million in August to September 2023 → USD 33.4 million in August to September 2024 (up by 15.6%)

Deputy Minister KIM Jong-gu of the MAFRA’s Agricultural Innovation Policy Office said: “The Ministry of Agriculture, Food and Rural Affairs will continue to provide support for the expansion of exports of Korean agri-food products in the fourth quarter of this year. And to ensure that the exports of agri-food products can reach an all-time high at the end of this year, we will continue to support the expansion of the exports of non-processed food products.”