Republic of Korea: Barley Market 2025

Barley Market Size in Republic of Korea

In 2022, the South Korean barley market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Barley Production in Republic of Korea

In value terms, barley production rose slightly to $X in 2022 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 43%. Barley production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average barley yield in South Korea contracted to X tons per ha, which is down by -4.6% on 2021 figures. Over the period under review, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the yield increased by 44%. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2022, the growth of the average barley yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of barley in South Korea rose sharply to X ha, surging by 11% on 2021 figures. Over the period under review, the total harvested area indicated moderate growth from 2012 to 2022: its figure increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, barley harvested area decreased by -32.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 62% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the barley harvested area remained at a lower figure.

Barley Exports

Exports from Republic of Korea

After two years of growth, shipments abroad of barley decreased by -1.9% to X tons in 2022. Overall, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 181%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, barley exports expanded markedly to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 154% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Australia (X tons) and New Zealand (X tons) were the main destinations of barley exports from South Korea, together accounting for 86% of total exports. Canada, Vietnam, the Philippines, Cambodia and Japan lagged somewhat behind, together comprising a further 9.8%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +84.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for barley exports from South Korea, comprising 57% of total exports. The second position in the ranking was held by Australia ($X), with a 24% share of total exports. It was followed by Canada, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-1.8% per year) and Canada (+11.3% per year).

Export Prices by Country

In 2022, the average barley export price amounted to $X per ton, growing by 9.4% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 35% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.2%), while the prices for the other major destinations experienced mixed trend patterns.

Barley Imports

Imports into Republic of Korea

In 2022, the amount of barley imported into South Korea soared to X tons, growing by 21% on 2021 figures. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 23%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, barley imports surged to $X in 2022. Over the period under review, imports, however, recorded a mild decline. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) was the main supplier of barley to South Korea, with a 97% share of total imports. It was followed by the United States (X tons), with a 2.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.3% per year) and India (-79.3% per year).

In value terms, Australia ($X) constituted the largest supplier of barley to South Korea, comprising 95% of total imports. The second position in the ranking was held by the United States ($X), with a 4.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.3% per year) and India (-71.3% per year).

Import Prices by Country

The average barley import price stood at $X per ton in 2022, increasing by 47% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+38.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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