Report Update: May 1, 2024

Republic of Korea - Frozen And Fresh Or Chilled Skipjack Tuna - Market Analysis, Forecast, Size, Trends And Insights

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Price for Frozen and Fresh or Chilled Skipjack Tuna in South Korea - 2022

Price for Frozen and Fresh or Chilled Skipjack Tuna in South Korea (FOB) - 2022

In December 2022, the average export price for frozen and fresh or chilled skipjack tuna amounted to $1,347 per ton, flattening at the previous month. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in September 2022 an increase of 14% m-o-m. Over the period under review, the average export prices hit record highs at $1,526 per ton in May 2022; however, from June 2022 to December 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In December 2022, the country with the highest price was Vietnam ($1,353 per ton), while the average price for exports to Thailand ($1,329 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 Mexico (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Frozen and Fresh or Chilled Skipjack Tuna in South Korea (CIF) - 2022

In 2022, the average import price for frozen and fresh or chilled skipjack tuna amounted to $1,472 per ton, increasing by 24% against the previous year. In general, the import price, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2017 an increase of 30% against the previous year. Over the period under review, average import prices attained the maximum at $1,897 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kiribati ($1,636 per ton), while the price for Vanuatu ($1,054 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tuvalu (+18.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Frozen and Fresh or Chilled Skipjack Tuna in South Korea

In 2022, approx. 101K tons of frozen and fresh or chilled skipjack tuna were exported from South Korea; declining by -2.1% on the year before. In general, exports saw a deep contraction.

In value terms, exports of frozen and fresh or chilled skipjack tuna surged to $140M in 2022. Overall, exports showed a deep reduction.

Export of Frozen and Fresh or Chilled Skipjack Tuna in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	106	89.8	53.5	77.6	-9.9%
Indonesia	0.9	1.0	3.8	16.7	164.7%
Vietnam	6.7	10.8	16.5	14.1	28.1%
Philippines	5.8	9.3	7.7	13.7	33.2%
American Samoa	1.3	N/A	7.6	6.0	66.5%
Mexico	11.9	2.0	6.1	3.6	-32.9%
Tunisia	1.2	2.8	5.1	3.1	37.2%
Ecuador	9.4	8.4	8.7	3.1	-30.9%
China	9.6	18.2	2.6	N/A	-48.0%
Others	15.0	13.6	8.7	2.8	-42.8%
Total	167	156	120	140	-5.7%

Top Export Markets for Frozen and Fresh or Chilled Skipjack Tuna from South Korea in 2022:

Thailand (56.6K tons)
Indonesia (12.3K tons)
Philippines (9.8K tons)
Vietnam (9.7K tons)
American Samoa (4.1K tons)
Mexico (2.6K tons)
Tunisia (2.2K tons)
Ecuador (2.2K tons)

Imports of Frozen and Fresh or Chilled Skipjack Tuna in South Korea

In 2022, imports of frozen and fresh or chilled skipjack tuna into South Korea soared to 2.6K tons, increasing by 18% on 2021 figures. In general, imports recorded a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 280%. As a result, imports attained the peak of 3.1K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of frozen and fresh or chilled skipjack tuna surged to $3.8M in 2022. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 215%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Import of Frozen and Fresh or Chilled Skipjack Tuna in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Tuvalu	N/A	N/A	957	1,443	50.8%
Kiribati	N/A	2,132	1,425	1,276	-22.6%
Nauru	963	895	N/A	751	-8.0%
Vanuatu	7.9	N/A	4.1	226	205.8%
Taiwan (Chinese)	65.7	91.6	14.3	37.7	-16.9%
China	63.0	126	93.5	16.2	-36.4%
Spain	N/A	242	N/A	N/A	0%
Others	20.8	37.7	87.3	57.9	40.7%
Total	1,120	3,524	2,581	3,808	50.4%

Top Suppliers of Frozen and Fresh or Chilled Skipjack Tuna to South Korea in 2022:

Tuvalu (1059.1 tons)
Kiribati (780.0 tons)
Nauru (470.9 tons)
Vanuatu (214.6 tons)
Taiwan (Chinese) (27.9 tons)
China (13.1 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for frozen and fresh or chilled skipjack tuna 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:

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

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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
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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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023