Overseas demand for ginseng, makgeolli is shriveling up

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Overseas demand for ginseng, makgeolli is shriveling up

Exports of Korea’s ginseng and makgeolli, or traditional rice wine, tumbled this year due to dwindling demand amid a prolonged global economic slump, the government said yesterday.

Shipments of ginseng plunged 22.8 percent on-year to $135.7 million during the first 11 months of this year, according to the Ministry for Food, Agriculture, Forestry and Fisheries.

The slowing sales of Korean ginseng, which had previously enjoyed an annual export growth of more than 20 percent on average since 2006, is mainly due to the slumping economy in China, Hong Kong and Taiwan, major overseas markets for the health food, the ministry said. Yonhap

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