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South Korea's Food, Farm Exports Expand in May

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SOUTH KOREA - South Korea's food and agricultural exports edged up slightly in May helped by a rise in overseas demand for fresh produce, the government said Wednesday 6 June.

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South Korea shipped US$660 million worth of farm products last month, up one per cent from the same period last year, according to the Ministry for Food, Agriculture, Forestry and Fisheries.

The modest gain comes after outbound shipments contracted 7.8 per cent in April to $620 million, reports YonhapNewsAgency.

The ministry said exports of fisheries products shot up 18.8 per cent, with numbers for fresh farm produce gaining six per cent. It, however, said processed food products such as instant noodles, biscuits and coffee mixes fell 9.3 per cent on-year.

The ministry said exports to the Association of Southeast Asian Nations, Taiwan, the European Union, Russia and the United States all grew, while shipments to Japan and China -- the two biggest single markets -- fell from the previous year.

Shipments to Japan stood at $204.8 million last month, down two per cent on-year. Exports to China and the United States reached $94.6 million and $55.6 million, respectively.

In the first five months of this year, food and agricultural exports grew 5.3 per cent on-year to $3.04 billion, it said.

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