Republic of Korea - Frozen Yellowfin Tuna - Market Analysis, Forecast, Size, Trends And Insights
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View PricingFrozen Yellowfin Tuna Price in South Korea - 2022
Contents:
- Frozen Yellowfin Tuna Price in South Korea (FOB) - 2022
- Frozen Yellowfin Tuna Price in South Korea (CIF) - 2022
- Frozen Yellowfin Tuna Exports in South Korea
- Frozen Yellowfin Tuna Imports in South Korea
Frozen Yellowfin Tuna Price in South Korea (FOB) - 2022
The average frozen yellowfin tuna export price stood at $2,336 per ton in December 2022, declining by -4.6% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2022 an increase of 14% month-to-month. As a result, the export price attained the peak level of $2,764 per ton. From June 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was Ecuador ($5,471 per ton), while the average price for exports to the Philippines ($1,411 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.
Frozen Yellowfin Tuna Price in South Korea (CIF) - 2022
The average frozen yellowfin tuna import price stood at $4,463 per ton in December 2022, surging by 5.3% against the previous month. Over the period under review, the import price, however, recorded a slight reduction. The pace of growth appeared the most rapid in February 2022 when the average import price increased by 150% month-to-month. The import price peaked at $6,392 per ton in October 2022; however, from November 2022 to December 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Kiribati ($6,511 per ton), while the price for France amounted to $4,120 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Kiribati (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Frozen Yellowfin Tuna Exports in South Korea
In 2022, overseas shipments of frozen yellowfin tuna decreased by -1.1% to 35K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +8.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 26%.
In value terms, frozen yellowfin tuna exports totaled $82M in 2022. The total export value increased at an average annual rate of +5.2% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 18% against the previous year. As a result, the exports attained the peak of $84M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Frozen Yellowfin Tuna in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 22.6 | 20.9 | 32.4 | 31.9 | 12.2% |
| Japan | 12.2 | 12.3 | 15.0 | 14.8 | 6.7% |
| Spain | 11.6 | 22.3 | 4.9 | 12.3 | 2.0% |
| Thailand | 11.7 | 12.3 | 10.0 | 10.7 | -2.9% |
| China | 3.3 | 4.6 | 1.5 | 3.0 | -3.1% |
| Ecuador | 3.8 | 2.0 | 2.1 | 2.5 | -13.0% |
| Philippines | 0.7 | 1.6 | 1.9 | 1.9 | 39.5% |
| Mexico | 1.5 | 0.2 | 0.8 | 0.8 | -18.9% |
| Mauritius | 1.5 | 0.6 | 0.3 | 0.7 | -22.4% |
| Italy | N/A | 4.1 | 5.8 | N/A | 41.5% |
| Others | 2.1 | 2.8 | 6.4 | 3.9 | 22.9% |
| Total | 71.0 | 83.7 | 81.3 | 82.5 | 5.1% |
Top Export Markets for Frozen Yellowfin Tuna from South Korea in 2022:
- Vietnam (12.6K tons)
- Thailand (7.6K tons)
- Spain (4.9K tons)
- Japan (3.1K tons)
- Philippines (1.2K tons)
- China (1.2K tons)
- Ecuador (1.2K tons)
- Mexico (0.5K tons)
- Mauritius (0.5K tons)
Frozen Yellowfin Tuna Imports in South Korea
Frozen yellowfin tuna imports into South Korea shrank to 747 tons in 2022, with a decrease of -12.9% compared with the previous year. Overall, imports faced a precipitous setback. The pace of growth appeared the most rapid in 2021 when imports increased by 35% against the previous year.
In value terms, frozen yellowfin tuna imports contracted to $1.9M in 2022. Over the period under review, imports showed a dramatic curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 36%.
| Import of Frozen Yellowfin Tuna in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 811 | 457 | 747 | 560 | -11.6% |
| Kiribati | 3,802 | 462 | 595 | 508 | -48.9% |
| Vanuatu | 3,401 | 110 | 165 | 317 | -54.7% |
| China | 198 | 252 | 407 | 305 | 15.5% |
| Seychelles | 414 | 34.1 | 120 | 90.4 | -39.8% |
| Ghana | 74.7 | 49.5 | 74.1 | 55.6 | -9.4% |
| Spain | 89.5 | 56.8 | 35.8 | 26.9 | -33.0% |
| Japan | 129 | 0.5 | 13.7 | 13.3 | -53.1% |
| Nauru | N/A | 119 | N/A | N/A | 0% |
| Papua New Guinea | 445 | N/A | N/A | N/A | 0% |
| Others | 165 | 47.8 | 6.8 | N/A | -79.7% |
| Total | 9,529 | 1,589 | 2,164 | 1,877 | -41.8% |
Top Suppliers of Frozen Yellowfin Tuna to South Korea in 2022:
- Kiribati (285.3 tons)
- Taiwan (Chinese) (155.7 tons)
- Vanuatu (120.6 tons)
- China (91.4 tons)
- Ghana (36.6 tons)
- Seychelles (26.2 tons)
- Spain (20.0 tons)
- Japan (11.2 tons)
This report provides an in-depth analysis of the frozen yellowfin tuna 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 2025.
Product coverage:
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
- 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 VOLUME AND VALUE
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
- 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
- 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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