Republic of Korea - Pulses - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPulses Price in South Korea - 2022
Contents:
- Pulses Price in South Korea (CIF) - 2022
- Pulses Price in South Korea (FOB) - 2022
- Pulses Imports in South Korea
- Pulses Exports in South Korea
Pulses Price in South Korea (CIF) - 2022
In 2022, the average pulses import price amounted to $1,604 per ton, increasing by 13% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pulses import price increased by +80.0% against 2018 indices. The growth pace was the most rapid in 2021 when the average import price increased by 29%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Peru ($2,412 per ton), while the price for Argentina ($558 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Pulses Price in South Korea (FOB) - 2022
The average pulses export price stood at $2,884 per ton in 2022, shrinking by -42.8% against the previous year. In general, the export price, however, recorded strong growth. The pace of growth appeared the most rapid in 2019 an increase of 249% against the previous year. Over the period under review, the average export prices attained the maximum at $5,038 per ton in 2021, and then fell dramatically in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($8,600 per ton), while the average price for exports to Myanmar ($1,038 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 the United States (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.
Pulses Imports in South Korea
After three years of growth, overseas purchases of pulses decreased by -19.3% to 59K tons in 2022. The total import volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, imports attained the peak of 74K tons, and then declined sharply in the following year.
In value terms, pulses imports dropped to $95M in 2022. Overall, imports, however, saw significant growth. The growth pace was the most rapid in 2021 when imports increased by 63%. As a result, imports reached the peak of $104M, and then declined in the following year.
| Import of Pulses in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 32.5 | 42.5 | 50.2 | 52.9 | 17.6% |
| Peru | 0.2 | 0.3 | 22.8 | 15.4 | 325.4% |
| Canada | 5.7 | 7.2 | 11.1 | 9.2 | 17.3% |
| United States | 6.2 | 6.3 | 11.5 | 8.5 | 11.1% |
| Myanmar | 5.7 | 5.3 | 3.8 | 4.4 | -8.3% |
| Australia | 0.3 | 0.5 | 0.7 | 0.8 | 38.7% |
| Argentina | N/A | N/A | 0.1 | 0.7 | 600.0% |
| Others | 1.9 | 1.7 | 3.9 | 3.3 | 20.2% |
| Total | 52.5 | 63.7 | 104 | 95.2 | 21.9% |
Top Suppliers of Pulses to South Korea in 2022:
- China (26.8K tons)
- Canada (9.0K tons)
- United States (8.2K tons)
- Peru (6.4K tons)
- Myanmar (4.6K tons)
- Argentina (1.2K tons)
- Australia (0.9K tons)
Pulses Exports in South Korea
In 2022, the amount of pulses exported from South Korea reduced sharply to 21 tons, waning by -73.6% on the previous year's figure. In general, exports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2021 with an increase of 42%. As a result, the exports reached the peak of 79 tons, and then contracted notably in the following year.
In value terms, pulses exports fell significantly to $60K in 2022. Overall, exports continue to indicate a sharp slump. The pace of growth was the most pronounced in 2021 when exports increased by 238% against the previous year. As a result, the exports attained the peak of $398K, and then plummeted in the following year.
| Export of Pulses in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 174 | 78.7 | 45.6 | 28.0 | -45.6% |
| Myanmar | N/A | N/A | N/A | 13.9 | 0% |
| United Kingdom | 5.8 | 2.2 | 0.5 | 8.7 | 14.5% |
| United Arab Emirates | 1.2 | 0.4 | 4.8 | 3.4 | 41.5% |
| Slovakia | N/A | N/A | 1.5 | 2.6 | 73.3% |
| Hong Kong SAR | 5.0 | 3.0 | 1.6 | 1.0 | -41.5% |
| Australia | N/A | 0.3 | N/A | 0.1 | -42.3% |
| Egypt | 17.8 | 3.2 | 2.3 | N/A | -64.1% |
| Uruguay | N/A | N/A | 314 | N/A | 0% |
| Others | 40.1 | 30.0 | 27.1 | 2.5 | -60.3% |
| Total | 244 | 118 | 398 | 60.0 | -37.4% |
Top Export Markets for Pulses from South Korea in 2022:
- Myanmar (13.4 tons)
- United States (3.3 tons)
- United Kingdom (2.3 tons)
- Slovakia (0.6 tons)
- Hong Kong SAR (0.5 tons)
- United Arab Emirates (0.4 tons)
- Australia (0.1 tons)
This report provides an in-depth analysis of the pulses 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 203 - Bambara beans
- FCL 176 - Beans, dry
- FCL 181 - Broad beans, dry
- FCL 191 - Chick-peas, dry
- FCL 195 - Cow peas, dry
- FCL 201 - Lentils, dry
- FCL 187 - Peas, dry
- FCL 197 - Pigeon peas
- FCL 211 - Pulses 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
-
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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