- Information Center
- Investment News
According to Yonhap News,
SEOUL, June 25 (Yonhap) -- South Korea said Thursday it plans to ship the first batch of canned pork products to Singapore next week, a move that could pave the way for Seoul to further expand exports of processed food products in Southeast Asia.
The first batch of 50,000 cans worth US$60,000 will be shipped to Singapore on Tuesday, with the combined volume expected to reach 1 million units annually, according to the Ministry of Agriculture, Food and Rural Affairs.
South Korea is currently making efforts to pave the way for the export of other pork products to Singapore and other Asian countries, the ministry added.
South Korea's exports of canned meat products reached $949,380 in 2019, up 38 percent from a year earlier.
The move came as outbound shipments of traditional items have tumbled due to the new coronavirus pandemic.
The country's exports of processed foodstuffs shot up 26.6 percent on-year in May to $257 million amid soaring demand following the COVID-19 pandemic. The country's overall exports dipped 23.7 percent in the month.
The export volume of processed food products shot up 46.3 percent on-year in April as well.
Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.
Source: Yonhap News (Jun. 25 , 2020)