Shortcut to Body Shortcut to main menu

Investment News

  • Home
  • About Us
  • Newsroom
  • Investment News
Korean food, agriculture product exports to China on recovery

According to Pulse by Maeil Business News Korea,

Clearance refusal for South Korea’s food and agricultural product exports to China plunged 88.5 percent last year from a year ago in another sign of thaw in ties between Seoul and Beijing after a year-long diplomatic spat over Korea’s installation of a U.S. antimissile system.

According to the Ministry of Agriculture, Food and Rural Affairs on Tuesday, China’s customs authority suspended clearance of foods and agricultural products shipments from Korea by 46 times last year, down a whopping 88.5 percent from a year earlier. The figures took up 3.4 percent of all refusals.

Shipments from Taiwan were suspended the most by 162 times, from the U.S. 150, Italy 145, and Japan 116.

Of suspended items from Korea, nine were seaweed, eight sauces, six confectioneries, three noodles and three beverages.

Clearance was held up after Chinese customs discovered insufficient documents (24 cases), inappropriate ingredients (14 cases), misprinted labels or package problems (four cases), and sanitary issues (four cases).

China is the second biggest export market for Korean foods and agricultural products after Japan. Last year, Korea shipped $1.1 billion worth of foods and agricultural products to China including $209.9 million fresh foods and $900.9 million processed foods.

Shipments to China for the first three months of this year also rose 17.9 percent to total $241.5 million worth, according to the ministry. Instant noodle ramyeon sold $23.2 million worth (up 46.8 percent on year), beer $16.5 million worth, and ginseng products $16.3 million worth (up 55.2 percent).

By Kim Tae-joon and Lee Ha-yeon

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (April 23, 2019)

Meta information