Report Republic of Korea - Soya Beans - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jun 1, 2025

Republic of Korea - Soya Beans - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Soya Bean Market 2025

Soya Bean Market Size in Republic of Korea

In 2021, the South Korean soya bean market increased by 3.6% to $X, rising for the second year in a row after five years of decline. In general, consumption showed a slight reduction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Soya Bean Production in Republic of Korea

In value terms, soya bean production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2017 with an increase of 13%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

In 2021, the average yield of soya beans in South Korea rose markedly to X tons per ha, picking up by 12% compared with 2020. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the yield increased by 27%. As a result, the yield attained the peak level of X tons per ha. From 2014 to 2021, the growth of the average soya bean yield remained 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 2021, the total area harvested in terms of soya beans production in South Korea stood at X ha, increasing by 3.2% on 2020. Overall, the harvested area, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2019 when the harvested area increased by 16%. The soya bean harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area failed to regain momentum.

Soya Bean Exports

Exports from Republic of Korea

In 2021, overseas shipments of soya beans were finally on the rise to reach X tons after three years of decline. In general, exports posted pronounced growth. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, soya bean exports surged to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons) was the main destination for soya bean exports from South Korea, with a 97% share of total exports. It was followed by Canada (X tons), with a 0.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Russia was relatively modest.

In value terms, Russia ($X) emerged as the key foreign market for soya bean exports from South Korea, comprising 96% of total exports. The second position in the ranking was held by Canada ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia was relatively modest.

Export Prices by Country

In 2021, the average soya bean export price amounted to $X per ton, falling by -29.3% against the previous year. In general, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 an increase of 133% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then shrank dramatically in the following year.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Russia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+77.5%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Bean Imports

Imports into Republic of Korea

In 2021, purchases abroad of soya beans decreased by -2.3% to X tons for the first time since 2018, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 13% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then declined in the following year.

In value terms, soya bean imports rose slightly to $X in 2021. In general, imports recorded a mild decline. The growth pace was the most rapid in 2014 when imports increased by 8.6%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Brazil (X tons), the United States (X tons) and China (X tons) were the main suppliers of soya bean imports to South Korea, together comprising 98% of total imports.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +7.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest soya bean suppliers to South Korea were Brazil ($X), the United States ($X) and China ($X), with a combined 97% share of total imports.

Among the main suppliers, Brazil, with a CAGR of +4.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average soya bean import price stood at $X per ton in 2021, picking up by 7.2% against the previous year. Overall, the import price, however, showed a pronounced setback. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of soya bean consumption in 2021 were China, the United States and Argentina, together accounting for 68% of global consumption.
The countries with the highest volumes of soya bean production in 2021 were Brazil, the United States and Argentina, together accounting for 80% of global production. China, India, Paraguay and Canada lagged somewhat behind, together comprising a further 14%.
In value terms, the largest soya bean suppliers to South Korea were the United States, Brazil and China, with a combined 97% share of total imports.
In value terms, the largest markets for soya bean exported from South Korea were China, Mongolia and France, together comprising 73% of total exports. Sweden, Canada and Germany lagged somewhat behind, together accounting for a further 15%.
The average soya bean export price stood at $1,838 per ton in 2021, picking up by 78% against the previous year.
In 2021, the average soya bean import price amounted to $448 per ton, shrinking by -1.5% against the previous year.

This report provides an in-depth analysis of the soya bean market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 236 - Soybeans

Country coverage:

  • South Korea

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Republic of Korea
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035
  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012-2024
    6. Imports, In Value Terms, By Country, 2012-2024
    7. Import Prices, By Country, 2012-2024
    8. Exports, In Physical Terms, By Country, 2012-2024
    9. Exports, In Value Terms, By Country, 2012-2024
    10. Exports Prices, By Country, 2012-2024
  12. LIST OF FIGURES

    1. Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, by Product
    11. Average Per Capita Consumption, by Product
    12. Exports and Growth, by Product
    13. Export Prices and Growth, by Product
    14. Production Volume and Growth
    15. Yield and Growth
    16. Exports and Growth
    17. Export Prices and Growth
    18. Market Size and Growth
    19. Per Capita Consumption
    20. Imports and Growth
    21. Import Prices
    22. Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Harvested Area: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Yield: Historical Data (2012–2024) and Forecast (2025–2035)
    26. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    27. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    28. Imports, in Physical Terms, by Country, 2024
    29. Imports, in Physical Terms, by Country, 2012-2024
    30. Imports, in Value Terms, by Country, 2012-2024
    31. Import Prices, by Country, 2012-2024
    32. Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    33. Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    34. Exports, in Physical Terms, by Country, 2024
    35. Exports, in Physical Terms, by Country, 2012-2024
    36. Exports, in Value Terms, by Country, 2012-2024
    37. Export Prices, by Country, 2012-2024

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