Kimchi Import Value Reaches All-Time High

In the first quarter of this year, the import value of kimchi achieved an all-time high. This is attributed to the rising domestic cabbage prices, leading to an increase in relatively cheaper Chinese kimchi imports.

According to the customs agency's export and import trade statistics released on the 18th, the kimchi import value from January to March this year is approximately $47.56 million (about 670 billion KRW). This marks a 16.7% increase compared to the same period last year, with import volume also rising by 10.1% year-on-year.

Last year, the kimchi import value also increased by 16.1% compared to the previous year, recording $89.86 million (approximately 2.67 trillion KRW). Considering the increase in the first quarter this year, it is likely that this record from last year will be surpassed.

By importing country, most of the kimchi imports are from China. In the first quarter of this year, $47.56 million of the import amount is from Chinese kimchi, while the amount from the United States is around $1,000. Essentially, it can be said that most imported kimchi is Chinese.

Decisive Reasons for the Increase in Kimchi Imports

The decisive reason for the increase in kimchi imports is the sharp rise in the price of cabbage, which is the main ingredient of domestic kimchi. Cabbage is a vegetable that grows well in low temperatures, but rising temperatures have made growth difficult, leading to unstable supply.

According to the statistics agency, the price of cabbage last month increased by 15.6% compared to a year ago, while kimchi prices also rose by 20.7%. It is analyzed that the increase in cabbage prices due to climate change has directly impacted the rise in kimchi imports.

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