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    Home > Food News > Food Articles > South Korea's kimchi imports hit a new monthly high in October

    South Korea's kimchi imports hit a new monthly high in October

    • Last Update: 2022-11-25
    • Source: Internet
    • Author: User
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    Seoul, November 16 (Yonhap News Agency) According to a statistic released by the South Korean Customs Service (Customs) on the 16th, South Korea's October kimchi (also known as kimchi) imports increased by 50.
    9% year-on-year and 16.
    2% month-on-month, to $17.
    018 million, a new monthly high
    .
     
    According to analysis, the price of kimchi raw materials such as cabbage has risen, and the price of domestic kimchi has also remained high, and restaurants and other kimchi demanders choose to use imported kimchi
    with relatively low prices.
    The price per tonne of imported kimchi in October was $648, only 19.
    3%
    of the exported kimchi ($3,359).
     
    In the first 10 months of this year, the cumulative import value of kimchi increased by 30% year-on-year to $141.
    521 million, which has exceeded the import value
    of last year (140.
    742 million US dollars).
    The average monthly import volume in the first 10 months exceeded 14 million US dollars, according to which it is estimated that the import volume of this year may reach 160 million ~ 170 million US dollars, exceeding the record set in 2020 (152.
    426 million US dollars
    ).
     
    During the same period, the export value of kimchi decreased by 12.
    8% year-on-year to 118.
    644 million US dollars, and the kimchi trade balance showed a deficit of 22.
    877 million US dollars
    .
    (End)
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