Exports of agricultural products up 3.4 pct in Q1

SEOUL, South Korea's exports of agricultural and food products moved up 3.4 percent on-year in the first quarter of 2024 to set a fresh high, the agricultural ministry said Tuesday. Outbound shipments of agricultural and food products came to US$2.27 billion in the January-March period, rising from $2.18 billion tallied a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs. By sector, exports of instant noodle products shot up 30.1 percent over the period to $270 million, with those of processed rice goods advancing 34 percent to $61 million. Exports of snack products also rose 6.3 percent over the period to $165 million, with those of kimchi rising 6.1 percent to $42.3 million. "Exports of instant noodles gained ground following the growing popularity of 'hallyu' content, including K-dramas," the ministry said in a statement. By destination, exports to the United States jumped 14.2 percent to $352 million, while those to Japan edged down 7.6 percent to $329 million. Shipments to the European Union and Britain shot up 27.4 percent to $166 million, the data also showed. Source: Yonhap News Agency