Republic of Korea: Bigeye Tuna Market 2022

Bigeye Tuna Market Size in Republic of Korea

The South Korean bigeye tuna market shrank markedly to $X in 2020, with a decrease of -X% against the previous year. Overall, consumption, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2011 when the market value increased by X% against the previous year. Bigeye tuna consumption peaked at $X in 2012; however, from 2013 to 2020, consumption remained at a lower figure.

Bigeye Tuna Production in Republic of Korea

In value terms, bigeye tuna production fell sharply to $X in 2020 estimated in export prices. In general, production recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. from 2012 to 2020, production growth failed to regain the momentum.

Bigeye Tuna Exports

Exports from Republic of Korea

In 2020, the amount of bigeye tuna exported from South Korea amounted to X tons, with an increase of X% against 2019. Overall, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at X tons in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

In value terms, bigeye tuna exports shrank rapidly to $X in 2020. Over the period under review, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2010 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2007; however, from 2008 to 2020, exports remained at a lower figure.

Exports by Country

Thailand (X tons), Japan (X tons) and China (X tons) were the main destinations of bigeye tuna exports from South Korea, with a combined X% share of total exports. These countries were followed by the Philippines, Ecuador, Vietnam and Spain, which together accounted for a further X 2007 to 2020, the biggest increases were in Vietnam, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for bigeye tuna exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by Thailand ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Japan stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+X% per year) and China (-X% per year).

Export Prices by Country

In 2020, the average bigeye tuna export price amounted to $X per ton, reducing by -X% against the previous year. Overall, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% year-to-year. As a result, export price attained the peak level of $X per ton. from 2012 to 2020, the growth in terms of the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam, while the prices for the other major destinations experienced more modest paces of growth.

Bigeye Tuna Imports

Imports into Republic of Korea

In 2020, imports of bigeye tuna into South Korea fell markedly to X tons, reducing by -X% on 2019. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2012 when imports increased by X% y-o-y. As a result, imports attained the peak of X tons. from 2013 to 2020, the growth imports remained at a lower figure.

In value terms, bigeye tuna imports fell dramatically to $X in 2020. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Imports peaked at $X in 2012; however, from 2013 to 2020, imports remained at a lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of bigeye tuna imports to South Korea, together accounting for X% of total imports. Kiribati, Nauru and Seychelles lagged somewhat behind, together comprising a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Kiribati (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) appeared to be the largest bigeye tuna suppliers to South Korea, with a combined X% share of total imports. These countries were followed by Seychelles, Kiribati and Nauru, which together accounted for a further X terms of the main suppliers, Kiribati saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bigeye tuna import price stood at $X per ton in 2020, dropping by -X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of X% year-to-year. The import price peaked at $X per ton in 2011; however, from 2012 to 2020, import prices failed to regain the momentum.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Nauru, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :