Republic of Korea - Crude Rape, Colza or Mustard Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Crude Rapeseed Oil Market 2024
Crude Rapeseed Oil Market Size in Republic of Korea
The South Korean crude rapeseed oil market expanded to $X in 2022, growing by X% against the previous year. In general, consumption, however, enjoyed a strong increase. Crude rapeseed oil consumption peaked in 2022 and is likely to continue growth in years to come.
Crude Rapeseed Oil Production in Republic of Korea
In value terms, crude rapeseed oil production rose notably to $X in 2022 estimated in export price. Over the period under review, production, however, showed a moderate expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.
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Crude Rapeseed Oil Exports
Exports from Republic of Korea
In 2022, overseas shipments of crude rape, colza or mustard oil decreased by X% to X kg, falling for the second consecutive year after three years of decline. Overall, exports faced a significant decrease. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.
In value terms, crude rapeseed oil exports surged to $X in 2022. Over the period under review, exports recorded a precipitous curtailment. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.
Exports by Country
Vietnam (X kg) was the main destination for crude rapeseed oil exports from South Korea, accounting for a X% share of total exports. Moreover, crude rapeseed oil exports to Vietnam exceeded the volume sent to the second major destination, China (X kg), tenfold.
From 2013 to 2022, the average annual rate of growth in terms of volume to Vietnam amounted to X%.
In value terms, the largest markets for crude rapeseed oil exported from South Korea were China ($X) and Vietnam ($X).
Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.
Export Prices by Country
In 2022, the average crude rapeseed oil export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price enjoyed a buoyant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam stood at $X per ton.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced a decline.
Crude Rapeseed Oil Imports
Imports into Republic of Korea
In 2022, the amount of crude rape, colza or mustard oil imported into South Korea dropped to X tons, which is down by X% against 2021 figures. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.
In value terms, crude rapeseed oil imports expanded notably to $X in 2022. Overall, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.
Imports by Country
In 2022, Canada (X tons) was the main supplier of crude rapeseed oil to South Korea, with a X% share of total imports. Moreover, crude rapeseed oil imports from Canada exceeded the figures recorded by the second-largest supplier, Australia (X tons), ninefold.
From 2012 to 2022, the average annual rate of growth in terms of volume from Canada amounted to X%.
In value terms, Canada ($X) constituted the largest supplier of crude rape, colza or mustard oil to South Korea, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with an X% share of total imports.
From 2012 to 2022, the average annual growth rate of value from Canada amounted to X%.
Import Prices by Country
In 2022, the average crude rapeseed oil import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price continues to indicate tangible growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Canada amounted to $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%).
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the crude rapeseed oil 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 271 - Oil of Rapeseed or Canola oil
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
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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
- 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 VOLUME AND VALUE
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
- 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
- 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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