Republic of Korea: Rye Market 2025

Rye Market Size in Republic of Korea

The South Korean rye market skyrocketed to $X in 2022, increasing by 20% against the previous year. In general, consumption recorded a abrupt setback. Rye consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Rye Production in Republic of Korea

In value terms, rye production expanded remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt decrease. The growth pace was the most rapid in 2019 when the production volume increased by 57% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average rye yield in South Korea declined slightly to X tons per ha, flattening at the year before. Over the period under review, the yield indicated a prominent increase from 2012 to 2022: its figure increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rye yield decreased by -3.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 62% against the previous year. Over the period under review, the average rye yield reached the peak level at X tons per ha in 2019; however, from 2020 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 rye were harvested in South Korea; approximately equating 2021. Over the period under review, the harvested area faced a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of 100% against the previous year. Over the period under review, the harvested area dedicated to rye production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Rye Exports

Exports from Republic of Korea

In 2022, exports of rye from South Korea shrank markedly to X kg, with a decrease of -66.7% compared with the year before. Over the period under review, exports faced a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 1,665% against the previous year. The exports peaked at X kg in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, rye exports reduced markedly to $X in 2022. In general, exports saw a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 3,716% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for rye exports from South Korea, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +364.2%.

In value terms, the United States ($X) also remains the key foreign market for rye exports from South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +501.8%.

Export Prices by Country

The average rye export price stood at $X per ton in 2022, waning by -9.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 116% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +29.7% per year.

Rye Imports

Imports into Republic of Korea

Rye imports into South Korea declined to X tons in 2022, standing approx. at 2021. Overall, imports saw a abrupt setback. The pace of growth was the most pronounced in 2016 when imports increased by 30% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, rye imports soared to $X in 2022. In general, imports showed a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 32%. 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, the United States (X tons) was the main rye supplier to South Korea, accounting for a 92% share of total imports. Moreover, rye imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-26.6% per year) and South Africa (-29.4% per year).

In value terms, the United States ($X) constituted the largest supplier of rye to South Korea, comprising 97% of total imports. The second position in the ranking was held by Canada ($X), with a 2.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-29.9% per year) and South Africa (-28.3% per year).

Import Prices by Country

The average rye import price stood at $X per ton in 2022, surging by 29% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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