Republic of Korea: Pears And Quinces Market 2024

Pears And Quinces Market Size in Republic of Korea

The South Korean pears and quinces market contracted significantly to $X in 2022, waning by -15.1% against the previous year. Overall, consumption showed a perceptible contraction. Pears and quinces consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Pears And Quinces Production in Republic of Korea

In value terms, pears and quinces production dropped to $X in 2022 estimated in export price. In general, production recorded a noticeable curtailment. The growth pace was the most rapid in 2013 when the production volume increased by 40% against the previous year. Pears and quinces production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of pears and quinces in South Korea shrank notably to X tons per ha, declining by -15.9% compared with 2021 figures. Over the period under review, the yield indicated measured growth from 2012 to 2022: its figure 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, pears and quinces yield increased by +25.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the yield increased by 71%. The pears and quinces yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield stood 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, approx. X ha of pears and quinces were harvested in South Korea; waning by -3% on 2021 figures. Overall, the harvested area saw a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 6.4% against the previous year. The pears and quinces harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Pears And Quinces Exports

Exports from Republic of Korea

After three years of decline, overseas shipments of pears and quinces increased by 20% to X tons in 2022. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 28% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, pears and quinces exports expanded slightly to $X in 2022. The total export value increased at an average annual rate of +4.1% over the period 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 2018 with an increase of 21% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) were the main destinations of pears and quinces exports from South Korea, with a combined 91% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +63.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Taiwan (Chinese) ($X) and Vietnam ($X) constituted the largest markets for pears and quinces exported from South Korea worldwide, together comprising 89% of total exports.

Vietnam, with a CAGR of +64.6%, recorded the highest rates of growth with regard to the value of exports, among 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 pears and quinces export price amounted to $X per ton, dropping by -13.8% against the previous year. Overall, the export price saw a mild shrinkage. The pace of growth was the most pronounced in 2020 an increase of 12% against the previous year. The export price peaked at $X per ton in 2021, and then contracted 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 Canada ($X per ton), while the average price for exports to Vietnam ($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 Hong Kong SAR (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pears And Quinces Imports

Imports into Republic of Korea

In 2022, supplies from abroad of pears and quinces decreased by -31.1% to X tons, falling for the third consecutive year after three years of growth. In general, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2015 when imports increased by 9,653% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, pears and quinces imports contracted notably to $X in 2022. Over the period under review, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 7,775% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Australia (X tons) was the main pears and quinces supplier to South Korea, accounting for a approx. 99.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Australia stood at +240.7%.

In value terms, Australia ($X) constituted the largest supplier of pears and quinces to South Korea.

From 2012 to 2022, the average annual growth rate of value from Australia stood at +199.5%.

Import Prices by Country

In 2022, the average pears and quinces import price amounted to $X per ton, increasing by 14% against the previous year. Over the period under review, the import price saw a buoyant expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 48% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +42.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :