SEJONG: The country’s exports of food and agrofisheries products dipped 0.6 percent from a year earlier in the first half of 2015 due to a drop in shipments to Japan, Hong Kong and the Association of Southeast Asian Nations (ASEAN) countries, the government said Wednesday.
In the January-June period, the country’s exports of edible goods stood at just under US$3.01 billion vis-a-vis more than $3.02 billion shipped out the year before, the Ministry of Agriculture, Food and Rural Affairs said.
It said the dip can be attributed to overall sluggishness in global trade and unfavorable exchange that made locally produced goods more expensive in some ASEAN countries.
The latest data showed that while food exports were down, it did comparatively well in holding onto foreign markets. During the same period, South Korean exports of all products were down 5.1 percent on-year to $268.7 billion.
Exports to China and the United States expanded 11.5 percent and 4.6 percent, respectively, while figures for the European Union surged 18.9 percent. On the other hand, outbound shipments to key markets such as Japan and Hong Kong were down 9.6 percent and 7.7 percent, respectively, with ASEAN exports backtracking 7.2 percent.
Among fresh produce, shipments of tomatoes, mushrooms and chestnuts rose sharply, while exports of kimchi and bell peppers fell. In the processed food category, powdered milk, beer, and non-alcoholic beverages led growth, with sugar and gochujang, or chili paste, falling.
The ministry said that while exports declined in the first half, every effort will be made to boost numbers in the July-December period so this year’s target of $7.7 billion can be reached.
“A special task force has been set up to examine the cause of negative growth with full-fledged promotional campaigns to be launched in Japan, China, Hong Kong and Taiwan in the coming months,” the ministry said.
It said that besides Asian markets, South Korea plans to expand its presence in the halal food sector, which promises good growth potential.
Halal food refers to food products that are prepared in a specific way according to Islamic Sharia law for consumption by Muslims.
