Republic of Korea: Palm Fruit Oil Market 2020

Palm Fruit Oil Market Size in Republic of Korea

The revenue of the palm fruit oil market in South Korea amounted to $X in 2017, coming up by X% against the previous year. Overall, palm fruit oil consumption continues to indicate a strong growth. The most prominent rate of growth was recorded in 2010, when market value increased by X% y-o-y. In that year, the palm fruit oil market reached their peak level of $X. From 2011 to 2017, growth of the palm fruit oil market stood at a somewhat lower level.

Palm Fruit Oil Production in Republic of Korea

In 2017, the amount of palm fruit oil produced in South Korea amounted to X kg, approximately equating the previous year. In general, palm fruit oil production continues to indicate a relatively flat trend pattern.

Palm Fruit Oil Exports from Republic of Korea

Palm fruit oil exports from South Korea amounted to X tons in 2017, surging by X% against the previous year. Overall, palm fruit oil exports continue to indicate an abrupt drop. The growth pace was the most rapid in 2013, with an increase of X% year-to-year. South Korea exports peaked of X tons in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

In value terms, palm fruit oil exports stood at $X in 2017. Overall, palm fruit oil exports continue to indicate a drastic decline. Over the period under review, the palm fruit oil exports reached its maximum level of $X in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Palm Fruit Oil Exports by Country from Republic of Korea

Indonesia represented the main exporter of palm fruit oil in the world, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2017. It was distantly followed by Malaysia (X tons), mixed up X% share of total exports. The Netherlands (X tons), Papua New Guinea (X tons) and Guatemala (X tons) followed a long way behind the leaders.

From 2007 to 2017, average annual rates of growth with regard to palm fruit oil exports from Indonesia stood at +X%. At the same time, Guatemala (+X%) and Papua New Guinea (+X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest growing exporter in the world, with a CAGR of +X% from 2007-2017. The Netherlands experienced a relatively flat trend pattern. By contrast, Malaysia (-X%) illustrated a downward trend over the same period. While the share of Malaysia (X%) increased significantly in terms of the global exports from 2007-2017, the share of Indonesia (-X%) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Malaysia ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of exports in 2017, together accounting for X% of total exports. These countries were followed by Papua New Guinea, Guatemala and South Korea, which together accounted for a further X%.

Guatemala (+X% per year) recorded the highest growth rate of exports, among the main exporting countries over the last decade, while the other leaders experienced more modest paces of growth.

Palm Fruit Oil Export Prices by Country in Republic of Korea

The palm fruit oil export price in South Korea stood at $X per ton in 2017, going up by X% against the previous year. Overall, palm fruit oil export price continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2010, when the export prices increased by X% against the previous year. In that year, the export prices for palm fruit oil attained their peak level of $X per ton. From 2011 to 2017, growth of the export prices for palm fruit oil stood at a somewhat lower level.

Average export prices varied somewhat amongst the major exporting countries. In 2017, major exporting countries recorded the following export prices: in Malaysia ($X per ton) and the Netherlands ($X per ton), while Guatemala ($X per ton) and Papua New Guinea ($X per ton) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Malaysia (+X% per year), while the other leaders experienced more modest paces of growth.

Palm Fruit Oil Imports into Republic of Korea

In 2017, the amount of palm fruit oil imported into South Korea stood at X tons, growing by X% against the previous year. In general, palm fruit oil imports continue to indicate a remarkable expansion. The growth pace was the most rapid in 2014, when it surged by X% against the previous year. South Korea imports peaked in 2017, and are likely to continue its growth in the near future.

In value terms, palm fruit oil imports amounted to $X in 2017. Overall, palm fruit oil imports continue to indicate a remarkable expansion. South Korea imports peaked of $X in 2014; however, from 2015 to 2017, it failed to regain its momentum.

Palm Fruit Oil Imports by Country into Republic of Korea

In 2017, India (X tons), distantly followed by China (X tons), Pakistan (X tons) and the Netherlands (X tons) represented the major importers of palm fruit oil, together making up X% of total imports. The following importers - Spain (X tons), Italy (X tons), Ghana (X tons), the U.S. (X tons), Bangladesh (X tons), Germany (X tons), Russia (X tons) and Myanmar (X tons) together made up X% of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Ghana (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest palm fruit oil markets worldwide were India ($X), China ($X) and Pakistan ($X), with a combined X% share of total imports. These countries were followed by the Netherlands, Spain, Italy, the U.S., Bangladesh, Germany, Russia, Myanmar, South Korea and Ghana, which together accounted for a further X%.

Ghana (+X% per year) recorded the highest growth rate of imports, among the main importing countries over the last decade, while the other leaders experienced more modest paces of growth.

Palm Fruit Oil Import Prices by Country in Republic of Korea

The palm fruit oil import price in South Korea stood at $X per ton in 2017, going up by X% against the previous year. In general, palm fruit oil import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2008, an increase of X% against the previous year. South Korea import price peaked of $X per ton in 2011; however, from 2012 to 2017, it stood at a somewhat lower level.

Import prices varied noticeably by the country of destination; the country with the highest import price was Germany ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by India (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform