Republic of Korea: Orange Market 2025

Orange Market Size in Republic of Korea

The South Korean orange market declined significantly to $X in 2022, waning by -19.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a noticeable downturn. Orange consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Orange Exports

Exports from Republic of Korea

For the third consecutive year, South Korea recorded growth in shipments abroad of oranges, which increased by 220% to X tons in 2022. Over the period under review, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 598%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, orange exports soared to $X in 2022. In general, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2016 when exports increased by 695%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for orange exports from South Korea, with a 99% share of total exports. It was followed by Mongolia (X kg), with a 0.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +241.3%.

In value terms, Russia ($X) remains the key foreign market for oranges exports from South Korea, comprising 99% of total exports. The second position in the ranking was taken by Mongolia ($X), with a 0.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Russia stood at +184.3%.

Export Prices by Country

The average orange export price stood at $X per ton in 2022, shrinking by -38.1% against the previous year. In general, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 65%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Mongolia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.3%), while the prices for the other major destinations experienced mixed trend patterns.

Orange Imports

Imports into Republic of Korea

In 2022, approx. X tons of oranges were imported into South Korea; which is down by -28.9% against 2021 figures. Overall, imports showed a abrupt downturn. The growth pace was the most rapid in 2016 with an increase of 39%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, orange imports shrank dramatically to $X in 2022. In general, imports recorded a perceptible decline. The pace of growth appeared the most rapid in 2016 when imports increased by 27% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest orange supplier to South Korea, with a 86% share of total imports. Moreover, orange imports from the United States exceeded the figures recorded by the second-largest supplier, Australia (X tons), tenfold. South Africa (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+15.8% per year) and South Africa (-0.9% per year).

In value terms, the United States ($X) constituted the largest supplier of oranges to South Korea, comprising 90% of total imports. The second position in the ranking was taken by Australia ($X), with a 7% share of total imports. It was followed by South Africa, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+17.0% per year) and South Africa (-1.1% per year).

Import Prices by Country

In 2022, the average orange import price amounted to $X per ton, rising by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.2%. The growth pace was the most rapid in 2014 an increase of 31% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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