Republic of Korea - Bananas and Plantains - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBanana and Plantain Price in South Korea - 2022
Contents:
- Banana and Plantain Price in South Korea (CIF) - 2022
- Banana and Plantain Price in South Korea (FOB) - 2022
- Banana and Plantain Imports in South Korea
- Banana and Plantain Exports in South Korea
Banana and Plantain Price in South Korea (CIF) - 2022
In December 2022, the average banana and plantain import price amounted to $926 per ton, picking up by 13% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.9%. Over the period under review, average import prices attained the peak figure at $995 per ton in May 2022; however, from June 2022 to December 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Peru ($1,225 per ton), while the price for Costa Rica ($743 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Banana and Plantain Price in South Korea (FOB) - 2022
In 2022, the average banana and plantain export price amounted to $830 per ton, standing approx. at the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 2,093%. The export price peaked at $82,278 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the Philippines.
From 2012 to 2022, the rate of growth in terms of prices for the Philippines amounted to +0.9% per year.
Banana and Plantain Imports in South Korea
In 2022, the amount of bananas and plantains imported into South Korea fell to 320K tons, reducing by -9.1% against the previous year. Overall, imports saw a perceptible slump. The smallest decline of less than 0.1% was in 2021.
In value terms, banana and plantain imports reduced slightly to $284M in 2022. In general, imports continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 5.2% against the previous year.
Import of Banana and Plantain in South Korea (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Philippines | 237 | 206 | 213 | 206 | -4.6% |
Vietnam | 4.2 | 4.9 | 9.0 | 20.7 | 70.2% |
Colombia | 0.9 | 21.0 | 23.4 | 15.8 | 159.9% |
Peru | 15.2 | 12.2 | 14.1 | 14.0 | -2.7% |
Ecuador | 23.2 | 15.2 | 13.6 | 11.2 | -21.6% |
Guatemala | 15.7 | 11.9 | 8.7 | 9.5 | -15.4% |
Costa Rica | N/A | 0.1 | 6.6 | 6.5 | 706.2% |
Others | 5.4 | 4.9 | 1.5 | N/A | -47.3% |
Total | 302 | 276 | 290 | 284 | -2.0% |
Top Suppliers of Banana and Plantain to South Korea in 2022:
- Philippines (234.1K tons)
- Vietnam (21.5K tons)
- Colombia (16.3K tons)
- Ecuador (15.1K tons)
- Guatemala (12.6K tons)
- Peru (11.7K tons)
- Costa Rica (8.6K tons)
Banana and Plantain Exports in South Korea
In 2022, the amount of bananas and plantains exported from South Korea soared to 227 tons, jumping by 109% against the previous year. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2021 when exports increased by 299%. The exports peaked in 2022 and are likely to continue growth in years to come.
In value terms, banana and plantain exports skyrocketed to $188K in 2022. Overall, exports recorded significant growth. The growth pace was the most rapid in 2021 when exports increased by 327%. The exports peaked in 2022 and are likely to see steady growth in the near future.
Export of Banana and Plantain in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Philippines | 6.8 | 21.0 | 85.5 | 186 | 201.3% |
Others | 0.9 | 0.4 | 5.7 | 2.5 | 40.6% |
Total | 7.7 | 21.4 | 91.3 | 188 | 190.1% |
Top Export Markets for Banana and Plantain from South Korea in 2022:
- Philippines (226.0 tons)
This report provides an in-depth analysis of the banana and plantain 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 486 - Bananas
- FCL 489 - Plantains
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:
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the banana and plantain market in Republic of Korea.
This report provides an in-depth analysis of the plantain market in Republic of Korea.
This report provides an in-depth analysis of the banana market in Republic of Korea.
This report provides an in-depth analysis of the global banana and plantain market.
This report provides an in-depth analysis of the global plantain market.
This report provides an in-depth analysis of the global banana market.
This report provides an in-depth analysis of the banana and plantain market in Republic of Korea.
This report provides an in-depth analysis of the plantain market in Republic of Korea.
This report provides an in-depth analysis of the banana market in Republic of Korea.
This report provides an in-depth analysis of the global banana and plantain market.
The global banana market revenue amounted to $58.5B in 2017, therefore, remained relatively stable against the...
The global banana market revenue amounted to $X in 2017, flattening at the previous year. Overall, the total market indi...
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Global banana consumption amounted to X thousand tons in 2015, going up by +X% against the previous year level.
Global banana exports amounted to X thousand tons in 2015, reducing by -X% against the previous year level.
Global banana imports amounted to X thousand tons in 2015, approximately equating the previous year level.
Global banana production amounted to X thousand tons in 2015, rising by +X% against the previous year level.
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