Republic of Korea: Durum Wheat Market 2024

Durum Wheat Market Size in Republic of Korea

The South Korean durum wheat market expanded modestly to $X in 2022, picking up by X% against the previous year. In general, consumption, however, showed a abrupt decrease. Durum wheat consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Durum Wheat Production in Republic of Korea

In value terms, durum wheat production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Durum wheat production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average durum wheat yield in South Korea fell to X tons per ha, waning by X% against the previous year's figure. In general, the yield saw a mild curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2018 to 2022, the growth of the average durum wheat yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of durum wheat were harvested in South Korea; increasing by X% compared with the year before. In general, the harvested area, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2015 when the harvested area increased by X% against the previous year. The durum wheat harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area failed to regain momentum.

Durum Wheat Exports

Exports from Republic of Korea

In 2022, durum wheat exports from South Korea reduced rapidly to X kg, waning by X% compared with the year before. Overall, exports faced a dramatic downturn. The pace of growth appeared the most rapid in 2013 when exports increased by X,537% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, durum wheat exports declined markedly to $X in 2022. In general, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by X,804% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for durum wheat exports from South Korea, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%.

In value terms, the United States ($X) emerged as the key foreign market for durum wheat exports from South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%.

Export Prices by Country

In 2022, the average durum wheat export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price continues to indicate a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Egypt amounted to X% per year.

Durum Wheat Imports

Imports into Republic of Korea

After three years of growth, purchases abroad of durum wheat decreased by X% to X tons in 2022. In general, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, durum wheat imports contracted dramatically to $X in 2022. Overall, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

Turkey (X tons), Canada (X tons) and the United States (X tons) were the main suppliers of durum wheat imports to South Korea, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of durum wheat to South Korea, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Canada totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Australia (X% per year).

Import Prices by Country

The average durum wheat import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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