Report Update Nov 1, 2024

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

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Republic of Korea: Yams Market 2024

Yams Market Size in Republic of Korea

The South Korean yams market skyrocketed to $X in 2022, rising by 115% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a significant increase. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Yams Exports

Exports from Republic of Korea

In 2022, the amount of yams exported from South Korea shrank notably to X kg, dropping by -72.4% compared with the previous year. Overall, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2017 when exports increased by 30,083% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, yams exports reduced rapidly to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 29,829% 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 stood at a somewhat lower figure.

Exports by Country

The United States (X kg) and Hong Kong SAR (X kg) were the main destinations of yams exports from South Korea.

From 2014 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of 0.0%).

In value terms, the United States ($X) remains the key foreign market for yams exports from South Korea, comprising 68% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 32% share of total exports.

From 2014 to 2022, the average annual growth rate of value to the United States amounted to -23.2%.

Export Prices by Country

The average yams export price stood at $X per ton in 2022, increasing by 25% against the previous year. In general, the export price, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by 53%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external 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 Hong Kong SAR stood at $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.4%).

Yams Imports

Imports into Republic of Korea

For the third year in a row, South Korea recorded growth in purchases abroad of yams, which increased by 116% to X tons in 2022. In general, imports recorded significant growth. The growth pace was the most rapid in 2013 with an increase of 852,800%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, yams imports surged to $X in 2022. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 1,075,967%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Vietnam (X tons) was the main supplier of yams to South Korea, accounting for a 95% share of total imports. Moreover, yams imports from Vietnam exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Vietnam totaled +178.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+30.3% per year) and the United States (-65.6% per year).

In value terms, Vietnam ($X) constituted the largest supplier of yams to South Korea, comprising 96% of total imports. The second position in the ranking was held by the Philippines ($X), with a 3.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Vietnam stood at +185.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+40.6% per year) and the United States (-54.0% per year).

Import Prices by Country

The average yams import price stood at $X per ton in 2022, declining by -7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2013 an increase of 26%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Philippines ($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 (+33.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for yams in the world?

Nigeria remains the largest yams consuming country worldwide, accounting for 67% of total volume. Moreover, yams consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Ghana, sixfold. The third position in this ranking was occupied by Cote d'Ivoire, with a 10% share.

What are the largest producers of yams in the world?

The country with the largest volume of yams production was Nigeria, comprising approx. 67% of total volume. Moreover, yams production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana, sixfold. Cote d'Ivoire ranked third in terms of total production with a 10% share.

What are the leading suppliers of yams to Republic of Korea?

In value terms, China constituted the largest supplier of yams to South Korea, comprising 90% of total imports. The second position in the ranking was occupied by Vietnam, with a 9.3% share of total imports.

What are the leading importers of yams from Republic of Korea?

In value terms, the U.S. remains the key foreign market for yams exports from South Korea, comprising 95% of total exports. The second position in the ranking was occupied by Canada, with a 5.3% share of total exports.

What is the average export price for yams in Republic of Korea?

In 2020, the average yams export price amounted to $2,727 per ton, with an increase of 7.1% against the previous year.

What is the average import price for yams in Republic of Korea?

In 2020, the average yams import price amounted to $1,919 per ton, with a decrease of -5.7% against the previous year.

This report provides an in-depth analysis of the yams 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 137 - Yams

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
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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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
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. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
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, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023