Republic of Korea: Citrus Fruit Market 2024

Citrus Fruit Market Size in Republic of Korea

The South Korean citrus fruit market shrank to $X in 2022, dropping by X% against the previous year. Overall, consumption recorded a slight setback. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Citrus Fruit Production in Republic of Korea

In value terms, citrus fruit production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a slight downturn. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average citrus fruit yield in South Korea stood at X tons per ha, increasing by X% on the year before. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the average citrus fruit yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the citrus fruit harvested area in South Korea contracted to X ha, with a decrease of X% on the year before. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha, and then dropped in the following year.

Citrus Fruit Exports

Exports from Republic of Korea

In 2022, overseas shipments of citrus fruits decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by X%. The exports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, citrus fruit exports declined notably to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Russia (X tons) was the main destination for citrus fruit exports from South Korea, accounting for a X% share of total exports. Moreover, citrus fruit exports to Russia exceeded the volume sent to the second major destination, Canada (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and the United States (X% per year).

In value terms, the largest markets for citrus fruit exported from South Korea were Russia ($X), Singapore ($X) and Hong Kong SAR ($X), together comprising X% of total exports. Canada, the United States, Malaysia, Guam and Mongolia lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average citrus fruit export price amounted to $X per ton, rising by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 Singapore ($X per ton), while the average price for exports to Russia ($X 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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Citrus Fruit Imports

Imports into Republic of Korea

Citrus fruit imports into South Korea dropped rapidly to X tons in 2022, which is down by X% on 2021. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, citrus fruit imports contracted dramatically to $X in 2022. Over the period under review, imports continue to indicate a mild descent. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of citrus fruit to South Korea, accounting for a X% share of total imports. Moreover, citrus fruit imports from the United States exceeded the figures recorded by the second-largest supplier, South Africa (X tons), tenfold. Australia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (X% per year) and Australia (X% per year).

In value terms, the United States ($X) constituted the largest supplier of citrus fruits to South Korea, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and South Africa (X% per year).

Import Prices by Country

The average citrus fruit import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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 the United States ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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