Republic of Korea: Fresh Pork Carcase Market 2025

Fresh Pork Carcase Market Size in Republic of Korea

The South Korean fresh pork carcase market fell modestly to $X in 2022, waning by -2.5% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Fresh pork carcase consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fresh Pork Carcase Production in Republic of Korea

In value terms, fresh pork carcase production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 35%. Fresh pork carcase production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Fresh Pork Carcase Exports

Exports from Republic of Korea

Fresh pork carcase exports from South Korea totaled X kg in 2020, approximately mirroring 2019 figures. Over the period under review, exports saw a drastic downturn. The smallest decline of 99.9% was in 2013. The exports peaked at X tons in 2012; however, from 2013 to 2020, the exports failed to regain momentum.

In value terms, fresh pork carcase exports totaled $X in 2020. Overall, exports showed a deep downturn. The smallest decline of 99.9% was in 2013. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X kg) was the main destination for fresh pork carcase exports from South Korea, with a approx. 100% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to Hong Kong SAR was relatively modest.

From 2012 to 2020, the average annual growth rate of value to Hong Kong SAR was relatively modest.

Export Prices by Country

In 2020, the average fresh pork carcase export price amounted to $X per ton, flattening at the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price decreased by 99.9% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2020, the rate of growth in terms of prices for Ghana amounted to 0.0% per year.

Fresh Pork Carcase Imports

Imports into Republic of Korea

In 2022, approx. X tons of fresh or chilled carcases of pig meat were imported into South Korea; growing by 3.6% compared with the previous year's figure. Overall, imports saw a noticeable expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 92%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, fresh pork carcase imports skyrocketed to $X in 2022. In general, imports showed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 138% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Austria (X tons), the UK (X tons) and Canada (X tons) were the main suppliers of fresh pork carcase imports to South Korea, together accounting for 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +11.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of fresh or chilled carcases of pig meat to South Korea, comprising 55% of total imports. The second position in the ranking was taken by the UK ($X), with a 22% share of total imports. It was followed by Canada, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Austria stood at +26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (0.0% per year) and Canada (+13.3% per year).

Import Prices by Country

The average fresh pork carcase import price stood at $X per ton in 2022, jumping by 16% against the previous year. Overall, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 an increase of 56%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat 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 Spain ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+36.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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