Republic of Korea - Citrus Fruit - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCitrus Fruit Price in South Korea - 2022
Contents:
- Citrus Fruit Price in South Korea (CIF) - 2022
- Citrus Fruit Price in South Korea (FOB) - 2022
- Citrus Fruit Imports in South Korea
- Citrus Fruit Exports in South Korea
Citrus Fruit Price in South Korea (CIF) - 2022
The average citrus fruit import price stood at $2,067 per ton in 2022, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. The pace of growth appeared the most rapid in 2014 an increase of 26%. The import price peaked in 2022 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 ($2,203 per ton), while the price for South Africa ($1,179 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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Citrus Fruit Price in South Korea (FOB) - 2022
In 2022, the average citrus fruit export price amounted to $1,366 per ton, surging by 19% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $1,534 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($4,284 per ton), while the average price for exports to Russia ($832 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.
Citrus Fruit Imports in South Korea
In 2022, citrus fruit imports into South Korea shrank notably to 113K tons, waning by -26.4% against 2021. Overall, imports recorded a abrupt decline. The smallest decline of -5.5% was in 2021.
In value terms, citrus fruit imports dropped significantly to $234M in 2022. In general, imports saw a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by 6.6% against the previous year.
| Import of Citrus Fruit in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 259 | 235 | 248 | 193 | -9.3% |
| Australia | 4.9 | 9.4 | 12.0 | 11.8 | 34.0% |
| South Africa | 9.3 | 7.5 | 7.9 | 10.1 | 2.8% |
| Chile | 8.3 | 10.0 | 10.2 | 8.5 | 0.8% |
| Israel | 3.0 | 2.8 | 2.7 | 4.4 | 13.6% |
| Others | 6.9 | 3.6 | 4.3 | 7.0 | 0.5% |
| Total | 291 | 268 | 286 | 234 | -7.0% |
Top Suppliers of Citrus Fruit to South Korea in 2022:
- United States (87.4K tons)
- South Africa (8.6K tons)
- Australia (7.1K tons)
- Chile (4.6K tons)
- Israel (2.9K tons)
Citrus Fruit Exports in South Korea
In 2022, after three years of growth, there was significant decline in overseas shipments of citrus fruits, when their volume decreased by -49% to 3.6K tons. Overall, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2020 when exports increased by 156%.
In value terms, citrus fruit exports declined markedly to $4.9M in 2022. Over the period under review, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 99% against the previous year.
| Export of Citrus Fruit in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 558 | 3,479 | 4,664 | 1,566 | 41.1% |
| Singapore | 620 | 639 | 853 | 964 | 15.8% |
| Hong Kong SAR | 402 | 759 | 761 | 733 | 22.2% |
| Canada | 478 | 609 | 522 | 565 | 5.7% |
| United States | 855 | 1,053 | 560 | 496 | -16.6% |
| Malaysia | 132 | 111 | 291 | 235 | 21.2% |
| Guam | 158 | 157 | 125 | 125 | -7.5% |
| Mongolia | 272 | 232 | 98.4 | 86.3 | -31.8% |
| Others | 124 | 131 | 135 | 94.4 | -8.7% |
| Total | 3,600 | 7,170 | 8,009 | 4,866 | 10.6% |
Top Export Markets for Citrus Fruit from South Korea in 2022:
- Russia (1882.4 tons)
- Canada (542.3 tons)
- United States (337.6 tons)
- Hong Kong SAR (306.5 tons)
- Singapore (225.0 tons)
- Malaysia (124.3 tons)
- Guam (66.9 tons)
- Mongolia (35.3 tons)
This report provides an in-depth analysis of the citrus fruit 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 507 - Grapefruit and pomelo
- FCL 497 - Lemons and limes
- FCL 490 - Oranges
- FCL 495 - Tangerines, mandarins, clementines, satsumas
- FCL 512 - Citrus fruit nes
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
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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
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