Republic of Korea: Market for Anise, Badian, Fennel And Coriander 2022

Market Size for Anise, Badian, Fennel And Coriander in Republic of Korea

The South Korean market for anise, badian, fennel and coriander expanded remarkably to $X in 2020, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +X% from 2012 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the market value increased by X% against the previous year. Anise, badian, fennel and coriander consumption peaked in 2020 and is expected to retain growth in the immediate term.

Exports of Anise, Badian, Fennel And Coriander

Exports from Republic of Korea

In 2020, exports of anise, badian, fennel and coriander from South Korea shrank remarkably to X tonnes, falling by -X% compared with the year before. Over the period under review, exports faced a significant decrease. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. As a result, exports reached the peak of X tonnes. from 2018 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, anise, badian, fennel and coriander exports contracted rapidly to $X in 2020. In general, exports saw a precipitous descent. The growth pace was the most rapid in 2017 when exports increased by X% year-to-year. Exports peaked at $X in 2012; however, from 2013 to 2020, exports stood at a somewhat lower figure.

Exports by Country

India (X tonnes) was the main destination for anise, badian, fennel and coriander exports from South Korea, with a X% share of total exports. Moreover, anise, badian, fennel and coriander exports to India exceeded the volume sent to the second major destination, Thailand (X kg), more than tenfold.

From 2012 to 2020, the average annual rate of growth in terms of volume to India stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and the Netherlands (+X% per year).

In value terms, India ($X) remains the key foreign market for anise, badian, fennel and coriander exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by Thailand ($X), with a X% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of value to India amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and the Netherlands (+X% per year).

Export Prices by Country

In 2020, the average export price for anise, badian, fennel and coriander amounted to $X per tonne, shrinking by -X% against the previous year. In general, the export price recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per tonne in 2016; however, from 2017 to 2020, export prices failed to regain the momentum.

Average prices varied noticeably for the major overseas markets. In 2020, the country with the highest price was India ($X per tonne), while the average price for exports to the Netherlands ($X per tonne) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to India, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Anise, Badian, Fennel And Coriander

Imports into Republic of Korea

Anise, badian, fennel and coriander imports into South Korea dropped slightly to X tonnes in 2020, reducing by -X% on 2019 figures. The total import volume increased at an average annual rate of +X% from 2012 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at X tonnes in 2019, and then dropped modestly in the following year.

In value terms, anise, badian, fennel and coriander imports rose to $X in 2020. The total import value increased at an average annual rate of +X% over the period from 2012 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of X% y-o-y. Over the period under review, imports attained the maximum in 2020 and are likely to see gradual growth in the near future.

Imports by Country

India (X tonnes), Morocco (X tonnes) and Egypt (X tonnes) were the main suppliers of anise, badian, fennel and coriander imports to South Korea, together accounting for X% of total imports.

From 2012 to 2020, the biggest increases were in Egypt, while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of anise, badian, fennel and coriander to South Korea, comprising X% of total imports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of total imports. It was followed by Morocco, with a X% share.

From 2012 to 2020, the average annual rate of growth in terms of value from India stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+X% per year) and Morocco (-X% per year).

Import Prices by Country

In 2020, the average import price for anise, badian, fennel and coriander amounted to $X per tonne, increasing by X% against the previous year. Over the last eight-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked in 2020 and is likely to see gradual growth in years to come.

Prices varied noticeably by the country of origin; the country with the highest price was Vietnam ($X per tonne), while the price for Morocco ($X per tonne) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform