Republic of Korea - Semi-Milled Or Wholly Milled (Bleached) Rice - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMilled Rice Price in South Korea - 2022
Contents:
- Milled Rice Price in South Korea (CIF) - 2022
- Milled Rice Price in South Korea (FOB) - 2022
- Milled Rice Imports in South Korea
- Milled Rice Exports in South Korea
Milled Rice Price in South Korea (CIF) - 2022
The average milled rice import price stood at $1,488 per ton in December 2022, leveling off at the previous month. In general, the import price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in April 2022 when the average import price increased by 143% month-to-month. Over the period under review, average import prices reached the maximum at $10,754 per ton in December 2021; however, from January 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 Thailand ($4,627 per ton), while the price for the United States totaled $1,487 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Thailand (-1.2%).
Milled Rice Price in South Korea (FOB) - 2022
The average milled rice export price stood at $1,843 per ton in December 2022, growing by 11% against the previous month. Over the period under review, the export price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in July 2022 an increase of 281% month-to-month. The export price peaked at $3,473 per ton in March 2022; however, from April 2022 to December 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major foreign markets. In December 2022, the countries with the highest prices were Australia ($2,352 per ton) and the United Arab Emirates ($2,083 per ton), while the average price for exports to Canada ($1,755 per ton) and the United States ($1,809 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+57.1%), while the prices for the other major destinations experienced more modest paces of growth.
Milled Rice Imports in South Korea
In 2022, approx. 41K tons of semi-milled or wholly milled (bleached) rice were imported into South Korea; dropping by -13.6% compared with the previous year. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 14%. As a result, imports attained the peak of 48K tons, and then dropped in the following year.
In value terms, milled rice imports soared to $56M in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.
| Import of Milled Rice in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 34.9 | 35.9 | 39.6 | 53.9 | 15.6% |
| Thailand | 0.1 | 0.9 | 1.0 | 1.9 | 166.8% |
| Vietnam | 2.1 | 1.5 | 0.6 | 0.6 | -34.1% |
| China | 2.8 | N/A | 6.0 | N/A | 46.4% |
| Others | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Total | 39.9 | 38.4 | 47.2 | 56.4 | 12.2% |
Top Suppliers of Milled Rice to South Korea in 2022:
- China (undefinedK tons)
- United States (37.0K tons)
- Thailand (3.0K tons)
- Vietnam (1.0K tons)
Milled Rice Exports in South Korea
In 2022, exports of semi-milled or wholly milled (bleached) rice from South Korea reached 53K tons, picking up by 3.4% against 2021 figures. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 4.9%. As a result, the exports reached the peak of 55K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, milled rice exports reduced rapidly to $18M in 2022. In general, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 4.6% against the previous year. As a result, the exports reached the peak of $26M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Milled Rice in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Yemen | 7.6 | 6.1 | 5.8 | 3.6 | -22.0% |
| United States | 0.8 | 1.3 | 1.0 | 3.3 | 60.4% |
| Ethiopia | N/A | N/A | 4.4 | 2.5 | -43.2% |
| Kenya | 6.0 | 3.2 | 3.1 | 2.1 | -29.5% |
| Uganda | N/A | 1.6 | 1.5 | 1.1 | -17.1% |
| Somalia | 6.4 | 5.1 | N/A | N/A | -20.3% |
| Others | 4.6 | 9.1 | 6.0 | 5.4 | 5.5% |
| Total | 25.3 | 26.5 | 21.7 | 18.0 | -10.7% |
Top Export Markets for Milled Rice from South Korea in 2022:
- Yemen (18.7K tons)
- Ethiopia (13.0K tons)
- Kenya (11.0K tons)
- Uganda (6.0K tons)
- United States (1.7K tons)
This report provides an in-depth analysis of the milled rice 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:
- Prodcom 10611230 - Semi-milled or wholly milled (bleached) rice (including camolino rice)
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
- 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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This year, rice prices are forecast to ease, thanks primarily to rising production and exports from India, Thailand, Vietnam, China, and Pakistan. India dominates global trade, more than doubling its supplies at a competitive cost over the past two years.
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Over 2020-2021 period, the global rice market displayed robust production indicators. Despite a pronounced shortage of shipping containers threatening to disrupt supplies to Africa, the global rice export market continues to expand. India maintains its status as the largest exporter, boasting the most competitive rice export prices.
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Global rice consumption amounted to X tons in 2016 (in terms of milled rice weight), posting modest but robust gains from 2007-2016. The total consumption volume increased at an average annual rate of +X%. Over the period under review, the globa
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Global rice consumption amounted to X thousand tons in 2015, increasing by +X% against the previous year level.
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Global rice exports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
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Global rice imports amounted to X thousand tons in 2015, declining by -X% against the previous year level.
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In 2015, the countries with the highest levels of rice production were China (X thousand tons), India (X thousand tons), Indonesia (X thousand tons), together accounting for X% of total output.
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India, despite a slight drop in exports in 2014, continued its dominance in the global rice trade. In 2014, India exported X thousand tons of rice totaling X million USD, X% under the previous year. Its primary trading partner was Saudi Arab
