Eastern Asia: Oat Market 2024

Oat Market Size in Eastern Asia

In 2022, the East Asian oat market increased by 11% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +31.7% against 2019 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Oat Production in Eastern Asia

In value terms, oat production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of 431%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

China (X tons) constituted the country with the largest volume of oat production, comprising approx. 98% of total volume. It was followed by Democratic People's Republic of Korea (X tons), with a 2.3% share of total production.

In China, oat production remained relatively stable over the period from 2012-2022.

In 2022, the average oat yield in Eastern Asia dropped modestly to X tons per ha, approximately equating the previous year's figure. The yield figure increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the yield increased by 7.7%. The level of yield peaked at X tons per ha in 2021, and then shrank slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of oats production in Eastern Asia amounted to X ha, leveling off at the previous year's figure. In general, the harvested area, however, continues to indicate a slight setback. The pace of growth appeared the most rapid in 2020 when the harvested area increased by 11%. Over the period under review, the harvested area dedicated to oat production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Oat Exports

Exports in Eastern Asia

After three years of growth, shipments abroad of oats decreased by -25.6% to X tons in 2022. In general, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 287% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, oat exports contracted remarkably to $X in 2022. Over the period under review, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 285%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons) represented roughly 94% of total exports in 2022. It was distantly followed by Japan (X tons), mixing up a 6.1% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +86.0%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the largest oat supplier in Eastern Asia, comprising 60% of total exports. The second position in the ranking was held by China ($X), with a 30% share of total exports. It was followed by Taiwan (Chinese), with a 7.5% share.

In South Korea, oat exports increased at an average annual rate of +64.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+18.1% per year) and Taiwan (Chinese) (-5.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by 4.8% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oat export price increased by +74.7% against 2016 indices. The pace of growth was the most pronounced in 2020 an increase of 50% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the other leaders experienced mixed trends in the export price figures.

Oat Imports

Imports in Eastern Asia

In 2022, supplies from abroad of oats increased by 26% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports showed a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 43%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, oat imports surged to $X in 2022. In general, imports posted a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 32%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) was the main importer of oats, comprising 84% of total imports. It was distantly followed by Japan (X tons) and South Korea (X tons), together comprising a 16% share of total imports.

Imports into China increased at an average annual rate of +17.4% from 2012 to 2022. At the same time, South Korea (+19.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +19.4% from 2012-2022. By contrast, Japan (-1.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and South Korea increased by +27 and +2.4 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported oats in Eastern Asia, comprising 77% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports.

In China, oat imports expanded at an average annual rate of +16.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+0.7% per year) and South Korea (+15.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by 2.6% against the previous year. In general, the import price, however, showed a mild descent. The pace of growth appeared the most rapid in 2019 when the import price increased by 20%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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