Due to abnormal temperatures and high exchange rates, kimchi imports in the first quarter of this year reached an all-time high. As kimchi imports increase, the trade deficit in kimchi is also widening.
According to the Customs Tariff Agency's export and import statistics on the 18th, kimchi imports from January to March this year amounted to $47.56 million (about 670 million won), a 16.7% increase compared to the same period last year ($40.75 million). During the same period, the weight of imports was 80.97 million tons, reflecting a 10.1% increase over the previous year. Due to high exchange rates, the increase rate of import value was higher than that of weight.
Last year, the import value and weight of kimchi were the highest ever. The kimchi import value last year increased by 16.1% compared to the previous year, reaching $189.86 million (2.67 billion won), while the import volume rose to 311,570 tons, an 8.7% increase over the previous year's 286,545 tons. Given the first quarter's records, it is certain that this year's import value and volume will surpass last year's figures.
Last year, kimchi exports amounted to $16.357 million (2.3 billion won), reflecting a 5.1% increase and setting a record, but import values rose more steeply. The kimchi trade deficit last year was $22.69 million, three times the $7.98 million from the previous year. Nearly 100% of the imported kimchi is sourced from China and is predominantly used in restaurants rather than homes.
The main reason for the surge in kimchi imports is the increase in prices due to poor production of napa cabbage, a key raw material. The production of winter napa cabbage declined last fall due to high temperatures and winter cold waves. Production of napa cabbage last fall also decreased, and the summer napa cabbage grown in high-altitude areas suffered from an unusual heat wave.
According to last month's Consumer Price Index trends from the Statistical Office, napa cabbage prices rose by 15.6% compared to the same month last year, while kimchi prices increased by 20.7%. The Korea Agro-Fisheries & Food Trade Corporation also reported that the average retail price of a head of napa cabbage last month was 5,442 won, over 24% higher than last year, an increase of more than 1,000 won.