Republic of Korea: Castor Oil Seed Market 2020

Castor Oil Seed Market Size in Republic of Korea

The revenue of the castor oil seed market in South Korea amounted to $X in 2017, coming up by X% against the previous year. Overall, castor oil seed consumption continues to indicate a drastic reduction. The most prominent rate of growth was recorded in 2013, when it surged by X% year-to-year. South Korea castor oil seed consumption peaked of $X in 2014; however, from 2015 to 2017, it failed to regain its momentum.

Castor Oil Seed Production in Republic of Korea

In 2017, approx. X kg of castor oil seed were produced in South Korea; approximately equating the previous year. In general, castor oil seed production continues to indicate a relatively flat trend pattern. Castor oil seed output in South Korea indicated a relatively flat trend pattern, which was largely conditioned by a relatively flat trend pattern of the harvested area and a relatively flat trend pattern in yield figures.

In 2017, average yield of castor oil seed in South Korea stood at X kg per ha, remaining relatively unchanged against the previous year. Overall, castor oil seed yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2017, approx. X ha of castor oil seed were harvested in South Korea; therefore, remained relatively stable against the previous year. In general, castor oil seed harvested area continues to indicate a relatively flat trend pattern.

Castor Oil Seed Exports from Republic of Korea

In 2017, the amount of castor oil seed exported from South Korea amounted to X tons, growing by X% against the previous year. Overall, castor oil seed exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017, with an increase of X% year-to-year. In that year, the castor oil seed exports reached their peak volume, and are likely to continue its growth in the immediate term.

In value terms, castor oil seed exports amounted to $X in 2017. In general, the total exports indicated a remarkable expansion from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. In that year, the castor oil seed exports attained their peak level of $X. From 2012 to 2017, growth of the castor oil seed exports failed to regain its momentum.

Castor Oil Seed Exports by Country from Republic of Korea

India prevails in castor oil seed exports structure, finishing at X tons, which was near X% of total exports in 2017. The Netherlands (X tons), France (X tons) and Germany (X tons) followed a long way behind the leaders.

India was also the fastest growing in terms of the castor oil seed exports, with a CAGR of +X% from 2007 to 2017. At the same time, Germany (+X%) and France (+X%) displayed positive paces of growth. The Netherlands experienced a relatively flat trend pattern. From 2007 to 2017, the share of India decreased by -X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest castor oil seed supplier from South Korea, making up X% of global exports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of global exports. It was followed by France, with a X% share.

From 2007 to 2017, the average annual rate of growth in terms of value in India amounted to +X%. In the other countries, the average annual rates were as follows: the Netherlands (+X% per year) and France (+X% per year).

Castor Oil Seed Export Prices by Country in Republic of Korea

In 2017, the castor oil seed export price in South Korea amounted to $X per ton, lowering by -X% against the previous year. Overall, castor oil seed export price continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2011, an increase of X% against the previous year. In that year, the export prices for castor oil seed reached their peak level of $X per ton. From 2012 to 2017, growth of the export prices for castor oil seed failed to regain its momentum.

Export prices varied noticeably by the country of destination; the country with the highest export price was Germany ($X per ton), while India ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the Netherlands (+X% per year), while the other leaders experienced more modest paces of growth.

Castor Oil Seed Imports into Republic of Korea

In 2017, imports of castor oil seed into South Korea totaled X tons, increasing by X% against the previous year. Overall, the total imports indicated a remarkable increase from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed imports increased by +X% against 2012 indices. The growth pace was the most rapid in 2010, when it surged by X% against the previous year. Over the period under review, the castor oil seed imports attained its maximum volume in 2017, and are expected to retain its growth in the near future.

In value terms, castor oil seed imports amounted to $X in 2017. Overall, castor oil seed imports continue to indicate a prominent growth. Over the period under review, the castor oil seed imports attained its maximum level in 2017, and are expected to retain its growth in the immediate term.

Castor Oil Seed Imports by Country into Republic of Korea

China was the major importing country with an import of around X tons, which amounted to X% of total imports. The U.S. (X tons) ranks second in terms of the global imports with a X% share, followed by France (X%), Germany (X%) and the Netherlands (X%). The following importers - Thailand (X tons), Japan (X tons), Italy (X tons) and South Korea (X tons) together made up X% of total imports.

China was also the fastest growing in terms of the castor oil seed imports, with a CAGR of +X% from 2007 to 2017. At the same time, Thailand (+X%), South Korea (+X%), the U.S. (+X%) and Germany (+X%) displayed positive paces of growth. Italy, the Netherlands and France experienced a relatively flat trend pattern. By contrast, Japan (-X%) illustrated a downward trend over the same period. Thailand (-X%), the U.S. (-X%) and China (-X%) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported castor oil seed into South Korea, making up X% of global imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of global imports. It was followed by France, with a X% share.

From 2007 to 2017, the average annual rate of growth in terms of value in China amounted to +X%. The remaining importing countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and France (+X% per year).

Castor Oil Seed Import Prices by Country in Republic of Korea

In 2017, the castor oil seed import price in South Korea amounted to $X per ton, jumping by X% against the previous year. In general, the import price indicated a perceptible expansion from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2011, when it surged by X% year-to-year. In that year, the import prices for castor oil seed reached their peak level of $X per ton. From 2012 to 2017, growth of the import prices for castor oil seed failed to regain its momentum.

Average import prices varied somewhat amongst the major importing countries. In 2017, major importing countries recorded the following import prices: in Italy ($X per ton) and Germany ($X per ton), while Thailand ($X per ton) and China ($X per ton) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by France (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform