Republic of Korea: Carrot And Turnip Market 2025

Carrot And Turnip Market Size in Republic of Korea

For the third consecutive year, the South Korean carrot and turnip market recorded growth in sales value, which increased by 5.6% to $X in 2022. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Carrot And Turnip Production in Republic of Korea

In value terms, carrot and turnip production rose rapidly to $X in 2022 estimated in export price. Overall, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -7.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 46% against the previous year. Carrot and turnip production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

The average yield of carrots and turnips in South Korea contracted to X tons per ha in 2022, stabilizing at 2021 figures. The yield figure increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 11%. Over the period under review, the average carrot and turnip yield hit record highs at X tons per ha in 2015; however, from 2016 to 2022, the yield failed to regain momentum. 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 carrots and turnips were harvested in South Korea; increasing by 9.1% on 2021 figures. The harvested area increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 43% against the previous year. The carrot and turnip harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area stood at a somewhat lower figure.

Carrot And Turnip Exports

Exports from Republic of Korea

Carrot and turnip exports from South Korea shrank to X tons in 2022, dropping by -13.5% against the year before. In general, exports recorded a noticeable downturn. The growth pace was the most rapid in 2015 when exports increased by 363%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, carrot and turnip exports shrank notably to $X in 2022. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 364%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Guam (X tons), Northern Mariana Islands (X tons) and Russia (X tons) were the main destinations of carrot and turnip exports from South Korea, together comprising 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Guam (with a CAGR of +38.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carrot and turnip exported from South Korea were Guam ($X), Northern Mariana Islands ($X) and Russia ($X), with a combined 99% share of total exports.

Guam, with a CAGR of +34.5%, saw 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 mixed trend patterns.

Export Prices by Country

The average carrot and turnip export price stood at $X per ton in 2022, shrinking by -5.2% against the previous year. Over the period under review, the export price showed a mild setback. The most prominent rate of growth was recorded in 2016 an increase of 111% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Guam ($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 Vietnam (+45.0%), while the prices for the other major destinations experienced mixed trend patterns.

Carrot And Turnip Imports

Imports into Republic of Korea

After two years of decline, purchases abroad of carrots and turnips increased by 4.9% to X tons in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 13% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, carrot and turnip imports amounted to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 24%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of carrot and turnip to South Korea, with a 92% share of total imports. Moreover, carrot and turnip imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of carrots and turnips to South Korea, comprising 90% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 9.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -1.0%.

Import Prices by Country

The average carrot and turnip import price stood at $X per ton in 2022, remaining constant against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 22% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.4%).

Source: IndexBox Platform

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