Kimchi imports in South Korea have reached unprecedented levels in the first quarter, driven by abnormal temperatures and elevated exchange rates. The Customs Tariff Agency reports that from January to March, kimchi imports totaled $47.56 million, marking a 16.7% increase from the previous year. Import volumes rose by 10.1% to 80.97 million tons, with the import value increasing more sharply due to high exchange rates.
Last year, kimchi import value reached $189.86 million, a 16.1% increase, while the import volume was 311,570 tons, up 8.7% from the prior year. These trends suggest this year's figures will likely surpass last year's records.
Despite a 5.1% rise in kimchi exports to $16.357 million, the trade deficit widened to $22.69 million, compared to $7.98 million the previous year. Nearly all imported kimchi is sourced from China, primarily for restaurant use.
The surge in imports is linked to rising prices due to napa cabbage production challenges. High temperatures and winter cold waves led to reduced production last fall, with summer crops also affected by heat waves. The Statistical Office's Consumer Price Index trends indicate a 15.6% rise in napa cabbage prices and a 20.7% increase in kimchi prices. The Korea Agro-Fisheries & Food Trade Corporation noted that the average retail price of napa cabbage last month was approximately $4.06, over 24% higher than the previous year.
Source: Chosun Biz