Republic of Korea: Dried Prune Market 2024

Dried Prune Market Size in Republic of Korea

The South Korean dried prune market amounted to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Dried prune consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Dried Prune Production in Republic of Korea

In value terms, dried prune production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

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Dried Prune Exports

Exports from Republic of Korea

In 2022, the amount of dried prunes exported from South Korea reached X tons, approximately reflecting the previous year's figure. Overall, exports saw tangible growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, dried prune exports totaled $X in 2022. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for dried prune exports from South Korea, with a X% share of total exports. Moreover, dried prune exports to Singapore exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Singapore ($X) remains the key foreign market for dried prunes exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average dried prune export price amounted to $X per ton, standing approx. at the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price 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, dried prune export price decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Malaysia ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Dried Prune Imports

Imports into Republic of Korea

In 2022, approx. X tons of dried prunes were imported into South Korea; approximately equating 2021 figures. Overall, total imports indicated modest growth 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, dried prune imports amounted to $X in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at $X in 2020; afterwards, it flattened through to 2022.

Imports by Country

In 2022, the United States (X tons) was the main dried prune supplier to South Korea, with a X% share of total imports. Moreover, dried prune imports from the United States exceeded the figures recorded by the second-largest supplier, Poland (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Chile (X% per year).

In value terms, the United States ($X) constituted the largest supplier of dried prunes to South Korea, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with a X% share of total imports.

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

Import Prices by Country

The average dried prune import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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