Republic of Korea: Pulses Market 2025

Pulses Market Size in Republic of Korea

In 2022, the South Korean pulses market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2021, and then reduced slightly in the following year.

Pulses Production in Republic of Korea

In value terms, pulses production soared to $X in 2022 estimated in export price. In general, production showed a buoyant increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

The average yield of pulses in South Korea rose modestly to X tons per ha in 2022, growing by X% on the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the yield increased by X%. Over the period under review, the average pulses yield hit record highs at X tons per ha in 2020; however, from 2021 to 2022, 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 2022, the total area harvested in terms of pulses production in South Korea expanded modestly to X ha, surging by X% against 2021. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to pulses production reached the maximum at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Pulses Exports

Exports from Republic of Korea

In 2022, the amount of pulses exported from South Korea declined remarkably to X tons, waning by X% on the previous year. In general, exports faced a dramatic curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, pulses exports fell remarkably to $X in 2022. Over the period under review, exports continue to indicate a dramatic curtailment. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar (X tons) was the main destination for pulses exports from South Korea, with a X% share of total exports. Moreover, pulses exports to Myanmar exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was held by the UK (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the UK (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for pulses exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and the UK (X% per year).

Export Prices by Country

The average pulses export price stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank remarkably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Myanmar ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Pulses Imports

Imports into Republic of Korea

In 2022, purchases abroad of pulses decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% 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 2014 when imports increased by X%. Imports peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, pulses imports reduced to $X in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest pulses supplier to South Korea, accounting for a X% share of total imports. Moreover, pulses imports from China exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of pulses to South Korea, comprising X% of total imports. The second position in the ranking was taken by Peru ($X), with a X% share of total imports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (X% per year) and Canada (X% per year).

Import Prices by Country

In 2022, the average pulses import price amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pulses import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

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

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

Source: IndexBox Platform

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