South Korea Sees Food Exports Grow

SOUTH KOREA - South Korea’s food and agriculture exports rose more than 11 per cent on-year in the first quarter of 2012 on solid demand in the United States, Japan and China, the government said Tuesday.
calendar icon 5 April 2012
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In the January to March period, South Korea shipped $1.82 billion worth of farm products, up 11.2 per cent from the same period last year, according to the Ministry for Food, Agriculture, Forestry and Fisheries.

The growth was largely led by an increase in shipments of fresh produce and fishery products, which rose 27.5 per cent and 13.5 per cent on-year, respectively, reports YonhapNewsAgency.

Exports of processed food products also rose 6.7 per cent from a year earlier, the ministry said.

“The first quarter export gain is noteworthy because it was achieved despite sluggish global growth that hurt trade,” a ministry official said.

By nation, exports to the United States jumped 17.3 per cent on-year to $156.5 million with Japan, the world’s largest importer of South Korean food products, purchasing $555.8 million worth of products, up 15.0 per cent from the same period in 2011.

Shipments to China rose 13.6 per cent to $294.6 million, with exports to the Association of Southeast Asian Nations gaining 8.1 per cent on-year to $251.2 million.

South Korea aims to export over $10 billion worth of farm, fishery and food products this year from a record $7.7 billion reached in 2011.

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