Republic of Korea: Market for Straw Or Fodder Balers, Including Pickup Balers 2025

Market Size for Straw Or Fodder Balers, Including Pickup Balers in Republic of Korea

For the sixth consecutive year, the South Korean straw for fodder balers market recorded growth in sales value, which increased by 27% to $X in 2021. Overall, consumption showed a prominent increase. Straw for fodder balers consumption peaked in 2021 and is expected to retain growth in the near future.

Exports of Straw Or Fodder Balers, Including Pickup Balers

Exports from Republic of Korea

For the third consecutive year, South Korea recorded decline in shipments abroad of straw or fodder balers, including pickup balers, which decreased by -66% to X units in 2021. In general, exports continue to indicate a precipitous slump. The pace of growth appeared the most rapid in 2018 with an increase of 70%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, straw for fodder balers exports fell sharply to $X in 2021. Overall, exports recorded a sharp curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 34% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Uzbekistan (X units) was the main destination for straw for fodder balers exports from South Korea, accounting for a 76% share of total exports. Moreover, straw for fodder balers exports to Uzbekistan exceeded the volume sent to the second major destination, Ukraine (X units), more than tenfold. Japan (X units) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Uzbekistan amounted to -10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-46.4% per year) and Japan (-22.6% per year).

In value terms, Ukraine ($X) emerged as the key foreign market for straw or fodder balers, including pickup balers exports from South Korea, comprising 35% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 16% share of total exports. It was followed by the United States, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Ukraine stood at -19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (-27.5% per year) and the United States (+81.7% per year).

Export Prices by Country

The average straw for fodder balers export price stood at $X per unit in 2021, rising by 61% against the previous year. Overall, the export price, however, showed a pronounced decline. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Uzbekistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+43.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Straw Or Fodder Balers, Including Pickup Balers

Imports into Republic of Korea

Straw for fodder balers imports into South Korea stood at X units in 2021, growing by 13% on 2020. In general, imports, however, showed a slight decline. The most prominent rate of growth was recorded in 2018 with an increase of 52%. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, straw for fodder balers imports skyrocketed to $X in 2021. Overall, imports, however, showed a mild decrease. The pace of growth appeared the most rapid in 2018 with an increase of 45%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Ireland (X units), Italy (X units) and Hungary (X units) were the main suppliers of straw for fodder balers imports to South Korea, together comprising 60% of total imports. The Netherlands, France, Germany, Finland and Japan lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +64.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest straw for fodder balers suppliers to South Korea were Ireland ($X), the Netherlands ($X) and Italy ($X), together comprising 55% of total imports. These countries were followed by Hungary, Japan, France, Finland and Germany, which together accounted for a further 39%.

Among the main suppliers, Finland, with a CAGR of +70.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average straw for fodder balers import price amounted to $X per unit, picking up by 4.2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 10% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 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 Japan ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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