Republic of Korea: Market for Rape Or Colza Seed 2025

Market Size for Rape Or Colza Seed in Republic of Korea

In 2022, the South Korean rape and colza seed market increased by 6% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a abrupt decrease. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Rape Or Colza Seed in Republic of Korea

In value terms, rape and colza seed production rose sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 54% against the previous year. Rape and colza seed production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average rape and colza seed yield in South Korea totaled X ton per ha, approximately reflecting 2021. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with a decrease of -1.2% against the previous year. The rape and colza seed yield peaked at X tons per ha in 2012; afterwards, it flattened through to 2022. 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 rape or colza seed were harvested in South Korea; remaining stable against the year before. Overall, the harvested area showed a noticeable decrease. The pace of growth was the most pronounced in 2014 with a decrease of -5.3%. The rape and colza seed harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Exports of Rape Or Colza Seed

Exports from Republic of Korea

In 2022, after two years of decline, there was significant growth in overseas shipments of rape or colza seed, when their volume increased by 79% to X tons. In general, exports, however, recorded a dramatic shrinkage. The growth pace was the most rapid in 2018 with an increase of 2,749% 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 remained at a lower figure.

In value terms, rape and colza seed exports skyrocketed to $X in 2022. Overall, exports, however, showed a sharp curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 846%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Australia (X kg) and Canada (X kg) were the main destinations of rape and colza seed exports from South Korea.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +46.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for rape and colza seed exported from South Korea were Japan ($X), Australia ($X) and Canada ($X), with a combined 99.9% share of total exports.

In terms of the main countries of destination, Australia, with a CAGR of +40.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average rape and colza seed export price amounted to $X per ton, growing by 82% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 545%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Canada ($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 Netherlands (+4.3%), while the prices for the other major destinations experienced a decline.

Imports of Rape Or Colza Seed

Imports into Republic of Korea

In 2022, the amount of rape or colza seed imported into South Korea contracted modestly to X tons, standing approx. at the year before. Over the period under review, imports saw a abrupt slump. The growth pace was the most rapid in 2015 when imports increased by 720%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, rape and colza seed imports skyrocketed to $X in 2022. Overall, imports saw a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 391% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) was the main supplier of rape and colza seed to South Korea, accounting for a approx. 99% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled +178.8%.

In value terms, Australia ($X) constituted the largest supplier of rape or colza seed to South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia amounted to +189.0%.

Import Prices by Country

The average rape and colza seed import price stood at $X per ton in 2022, surging by 29% against the previous year. Over the period under review, the import price posted a mild expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 78% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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 +17.1% per year.

Source: IndexBox Platform

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