Republic of Korea: Market for Frozen And Fresh Or Chilled Skipjack Tuna 2024

Market Size for Frozen And Fresh Or Chilled Skipjack Tuna in Republic of Korea

In 2022, the South Korean market for frozen and fresh or chilled skipjack tuna increased by X% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Frozen And Fresh Or Chilled Skipjack Tuna in Republic of Korea

In value terms, production of frozen and fresh or chilled skipjack tuna totaled $X in 2022 estimated in export price. In general, production, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production of attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Frozen And Fresh Or Chilled Skipjack Tuna

Exports from Republic of Korea

In 2022, overseas shipments of frozen and fresh or chilled skipjack tuna decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of frozen and fresh or chilled skipjack tuna skyrocketed to $X in 2022. In general, exports showed a noticeable slump. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for exports of frozen and fresh or chilled skipjack tuna from South Korea, with a X% share of total exports. Moreover, exports of frozen and fresh or chilled skipjack tuna to Thailand exceeded the volume sent to the second major destination, Indonesia (X tons), fivefold. The Philippines (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and the Philippines (X% per year).

In value terms, Thailand ($X) remains the key foreign market for frozen and fresh or chilled skipjack tuna exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average export price for frozen and fresh or chilled skipjack tuna stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were American Samoa ($X per ton) and Vietnam ($X per ton), while the average price for exports to Indonesia ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Frozen And Fresh Or Chilled Skipjack Tuna

Imports into Republic of Korea

In 2022, approx. X tons of frozen and fresh or chilled skipjack tuna were imported into South Korea; increasing by X% compared with 2021. Over the period under review, imports enjoyed prominent growth. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of frozen and fresh or chilled skipjack tuna surged to $X in 2022. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Tuvalu (X tons), Kiribati (X tons) and Nauru (X tons) were the main suppliers of imports of frozen and fresh or chilled skipjack tuna to South Korea, with a combined X% share of total imports. Vanuatu lagged somewhat behind, comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Vanuatu (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest frozen and fresh or chilled skipjack tuna suppliers to South Korea were Tuvalu ($X), Kiribati ($X) and Nauru ($X), together comprising X% of total imports. Vanuatu lagged somewhat behind, comprising a further X%.

Vanuatu, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for frozen and fresh or chilled skipjack tuna amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Kiribati ($X per ton), while the price for Vanuatu ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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