December 22, 2020 10:49
Exports of instant noodles are seeing a surge this year as people spend more time at home amid the coronavirus pandemic.
Market researcher Nielsen said on Monday the combined sales of Korea's instant noodle makers including Nongshim and Ottogi are expected to hit a record high of W2.15 trillion this year, up 3.2 percent from a year earlier (US$1=W1,104).
Their annual sales had stagnated at around W2 trillion for nearly a decade, as people have become more health-conscious. But the unexpected surge in exports came as the global lockdown increased the consumption of easy-to-cook instant meals.
According to the Korea Customs Service, exports of instant noodles reached US$549.72 million by November this year, up 28.4 percent on-year.
By country, China accounts for the largest share of the exports so far this year at $138.56 million, followed by the U.S. ($72.84 million), Japan ($44.98 million), Thailand ($24.66 million) and the Philippines ($22.37 million).
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