Republic of Korea: Fruit And Berry Market 2024

Fruit And Berry Market Size in Republic of Korea

The South Korean fruit and berry market fell to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Fruit and berry consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fruit And Berry Production in Republic of Korea

In value terms, fruit and berry production reduced slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

In 2022, the average yield of fruits and berries in South Korea fell to X tons per ha, waning by X% compared with the year before. Over the period under review, the yield recorded a slight curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average fruit and berry yield remained at a somewhat 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 total area harvested in terms of fruits and berries production in South Korea stood at X ha, standing approx. at 2021. In general, the harvested area, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the harvested area increased by X%. As a result, the harvested area reached the peak level of X ha. From 2015 to 2022, the growth of the fruit and berry harvested area remained at a lower figure.

Fruit And Berry Exports

Exports from Republic of Korea

In 2022, shipments abroad of fruits and berries was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, fruit and berry exports dropped slightly to $X in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

The United States (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) were the main destinations of fruit and berry exports from South Korea, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fruit and berry exported from South Korea were the United States ($X), Hong Kong SAR ($X) and Vietnam ($X), together comprising X% of total exports.

Among the main countries of destination, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fruit and berry export price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fruit and berry export price increased by X% against 2015 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Russia ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fruit And Berry Imports

Imports into Republic of Korea

Fruit and berry imports into South Korea declined to X tons in 2022, reducing by X% compared with 2021 figures. Overall, imports showed a slight curtailment. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, fruit and berry imports shrank to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Philippines (X tons) constituted the largest supplier of fruit and berry to South Korea, accounting for a X% share of total imports. Moreover, fruit and berry imports from the Philippines exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. New Zealand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the Philippines totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and New Zealand (X% per year).

In value terms, the largest fruit and berry suppliers to South Korea were the United States ($X), the Philippines ($X) and New Zealand ($X), with a combined X% share of total imports. Chile, Peru, Vietnam and Colombia lagged somewhat behind, together comprising a further X%.

Colombia, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fruit and berry import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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