Republic of Korea: Pear Market 2024

Pear Market Size in Republic of Korea

In 2021, the South Korean pear market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption continues to indicate moderate growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Pear Production in Republic of Korea

In value terms, pear production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

The average yield of pears in South Korea skyrocketed to X tons per ha in 2021, with an increase of 49% compared with 2020 figures. In general, the yield indicated a buoyant increase from 2012 to 2021: its figure increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the yield increased by 71% against the previous year. Over the period under review, the average pear yield attained the peak level at X tons per ha in 2017; however, from 2018 to 2021, the 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 2021, approx. X ha of pears were harvested in South Korea; rising by 6.4% on the previous year's figure. Overall, the harvested area, however, saw a pronounced descent. Over the period under review, the harvested area dedicated to pear production reached the maximum at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Pear Exports

Exports from Republic of Korea

In 2021, overseas shipments of pears decreased by -7.3% to X tons, falling for the third year in a row after three years of growth. Overall, total exports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -33.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 28%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, pear exports totaled $X in 2021. Over the period under review, total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.8% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 21%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X tons), the United States (X tons) and Vietnam (X tons) were the main destinations of pear exports from South Korea.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +62.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pear exported from South Korea were the United States ($X), Taiwan (Chinese) ($X) and Vietnam ($X), together comprising 90% of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +64.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pear export price stood at $X per ton in 2021, growing by 8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 12% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Canada ($X per ton) and the United States ($X per ton), while the average price for exports to Vietnam ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Pear Imports

Imports into Republic of Korea

In 2021, supplies from abroad of pears decreased by -23.5% to X tons, falling for the second consecutive year after three years of growth. In general, imports saw a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 243,067%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, pear imports expanded markedly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 7,775%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) was the main supplier of pear to South Korea, accounting for a 210% share of total imports. Moreover, pear imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 49% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-33.0% per year) and the United Arab Emirates (0.0% per year).

In value terms, the largest pear suppliers to South Korea were Taiwan (Chinese) ($X), Canada ($X) and Australia ($X), with a combined 74% share of total imports. These countries were followed by the United Arab Emirates, which accounted for a further 4.9%.

The United Arab Emirates, with a CAGR of 0.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average pear import price amounted to $X per ton, picking up by 48% against the previous year. Over the period under review, the import price showed buoyant growth. The growth pace was the most rapid in 2014 an increase of 2,552% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+9.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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