Republic of Korea: Market for Peel Of Citrus Fruit Or Melons 2024

Market Size for Peel Of Citrus Fruit Or Melons in Republic of Korea

The South Korean market for peel of citrus fruit or melons amounted to $X in 2022, almost unchanged from the previous year. In general, the total consumption indicated a prominent increase 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, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Peel Of Citrus Fruit Or Melons in Republic of Korea

In value terms, citrus fruit or melons peel production reached $X in 2022 estimated in export price. Overall, the total production indicated strong growth 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 most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Exports of Peel Of Citrus Fruit Or Melons

Exports from Republic of Korea

In 2022, approx. X tons of peel of citrus fruit or melons were exported from South Korea; which is down by X% on the previous year. In general, exports showed a dramatic decline. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, citrus fruit or melons peel exports declined markedly to $X in 2022. Overall, exports continue to indicate a sharp slump. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Singapore (X kg) and Hong Kong SAR (X kg) were the main destinations of citrus fruit or melons peel exports from South Korea.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for citrus fruit or melons peel exported from South Korea were the United States ($X), Singapore ($X) and Hong Kong SAR ($X).

In terms of the main countries of destination, the United States, 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 export price for peel of citrus fruit or melons amounted to $X per ton, remaining stable against the previous year. Overall, the export price showed a strong expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Hong Kong SAR ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Peel Of Citrus Fruit Or Melons

Imports into Republic of Korea

After three years of growth, supplies from abroad of peel of citrus fruit or melons decreased by X% to X tons in 2022. In general, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, citrus fruit or melons peel imports expanded modestly to $X in 2022. Over the period under review, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) was the main citrus fruit or melons peel supplier to South Korea, accounting for a X% share of total imports. Moreover, citrus fruit or melons peel imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%.

In value terms, China ($X) and Spain ($X) constituted the largest citrus fruit or melons peel suppliers to South Korea.

Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2022, the average import price for peel of citrus fruit or melons amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Spain ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

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