Republic of Korea: Mandarin And Clementine Market 2024

Mandarin And Clementine Market Size in Republic of Korea

The South Korean mandarin and clementine market shrank slightly to $X in 2022, reducing by -3.3% against the previous year. Over the period under review, consumption, however, recorded a mild decline. Mandarin and clementine consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Mandarin And Clementine Production in Republic of Korea

In value terms, mandarin and clementine production declined to $X in 2022 estimated in export price. Overall, production, however, saw a mild descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The average yield of tangerines, mandarins, clementines, satsumas in South Korea reached X tons per ha in 2022, increasing by 4% against the year before. Overall, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the yield increased by 10%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the average mandarin and clementine 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, approx. X ha of tangerines, mandarins, clementines, satsumas were harvested in South Korea; falling by -2.1% compared with the year before. In general, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 4.3%. As a result, the harvested area reached the peak level of X ha, and then fell slightly in the following year.

Mandarin And Clementine Exports

Exports from Republic of Korea

In 2022, overseas shipments of tangerines, mandarins, clementines, satsumas decreased by -50.9% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 154% against the previous year. The exports peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, mandarin and clementine exports dropped remarkably to $X in 2022. Over the period under review, exports showed a mild decrease. The most prominent rate of growth was recorded in 2020 with an increase of 94%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced rapidly in the following year.

Exports by Country

Russia (X tons) was the main destination for mandarin and clementine exports from South Korea, with a 52% share of total exports. Moreover, mandarin and clementine exports to Russia exceeded the volume sent to the second major destination, Canada (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Russia stood at +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-2.9% per year) and the United States (-3.4% per year).

In value terms, the largest markets for mandarin and clementine exported from South Korea were Russia ($X), Singapore ($X) and Hong Kong SAR ($X), together accounting for 63% of total exports. Canada, the United States, Malaysia, Guam and Mongolia lagged somewhat behind, together comprising a further 35%.

Malaysia, with a CAGR of +88.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average mandarin and clementine export price amounted to $X per ton, growing by 14% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 15%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Russia ($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 Singapore (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Mandarin And Clementine Imports

Imports into Republic of Korea

After seven years of growth, supplies from abroad of tangerines, mandarins, clementines, satsumas decreased by -24.9% to X tons in 2022. Overall, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 27,000% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank significantly in the following year.

In value terms, mandarin and clementine imports reduced to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 28,725%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, the United States (X tons) was the main mandarin and clementine supplier to South Korea, accounting for a 100% share of total imports. It was followed by Vietnam (X kg), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +235.7%.

In value terms, the United States ($X) constituted the largest supplier of tangerines, mandarins, clementines, satsumas to South Korea, comprising 99% of total imports. The second position in the ranking was held by Vietnam ($X), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +231.3%.

Import Prices by Country

In 2022, the average mandarin and clementine import price amounted to $X per ton, jumping by 25% against the previous year. Over the period under review, the import price, however, continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2015 an increase of 650%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-1.3%).

Source: IndexBox Platform

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