South Korea's Kimchi deficit rises to record high

Korea's kimchi trading last year hit the highest deficit Kimchi is a symbol of Korean cuisine and is available in almost every meal. While making kimchi is also an important annual ceremony for many Korean families. But the trading market has been experiencing difficulties from Chinese manufacturers in recent years. That is what is called. "Kimchi deficit"

South Korea imported more than 275,000 tonnes of kimchi last year and 99% of that amount comes from China. With exports of just over 24,000 tonnes, the deficit was $ 47.3 million ($ 1,500 million), based on market prices. The deficit increased 11% from last year and was the highest since the first data collection in 2000.

Believe The commodity price is a key factor in the trade. The Kori-Agrifood & Food Trade Corp reported that in 2016, imports were only $ 0.50 per kilogram (about 15 baht). The main market in Japan is the average price of $ 3.36 ($ 107) per kilogram.

The Kimchi World of South Korea reported that 89.9% of kimchi imported from South Korea in 2016 was imported from China. The kimchi deficit was first reported in 2006


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