Republic of Korea: Pistachio Market Overview 2021

Pistachio Market Size in Republic of Korea

The South Korean pistachio market skyrocketed to $X in 2019, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2011 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Pistachio Exports

Exports from Republic of Korea

In 2019, overseas shipments of pistachios were finally on the rise to reach X tonnes after two years of decline. In general, exports, however, saw a abrupt descent. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at X tonnes in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

In value terms, pistachio exports soared to $X in 2019. Overall, exports, however, showed a temperate increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Exports peaked in 2019 and are expected to retain growth in years to come.

Exports by Country

Japan (X tonnes) was the main destination for pistachio exports from South Korea, with a X% share of total exports. Moreover, pistachio exports to Japan exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tonnes), fourfold.

From 2007 to 2019, the average annual rate of growth in terms of volume to Japan totaled +X%.

In value terms, Japan ($X) and Taiwan (Chinese) ($X) constituted the largest markets for pistachio exported from South Korea worldwide.

In terms of the main countries of destination, Japan (+X% per year) saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average pistachio export price stood at $X per tonne in 2019, with an increase of X% against the previous year. Overall, the export price saw a remarkable increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. The export price peaked in 2019 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Taiwan (Chinese) ($X per tonne), while the average price for exports to Japan stood at $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese).

Pistachio Imports

Imports into Republic of Korea

Pistachio imports into South Korea rose rapidly to X tonnes in 2019, increasing by X% against the year before. Overall, imports enjoyed a strong expansion. The pace of growth was the most pronounced in 2011 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tonnes in 2013; however, from 2014 to 2019, imports failed to regain the momentum.

In value terms, pistachio imports skyrocketed to $X in 2019. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2011 when imports increased by X% y-o-y. Over the period under review, imports hit record highs in 2019 and are likely to see steady growth in the near future.

Imports by Country

In 2019, the U.S. (X tonnes) was the main supplier of pistachio to South Korea, accounting for a approx. X% share of total imports.

From 2007 to 2019, the average annual growth rate of volume from the U.S. totaled +X%.

In value terms, the U.S. ($X) constituted the largest supplier of pistachio to South Korea.

From 2007 to 2019, the average annual rate of growth in terms of value from the U.S. stood at +X%.

Import Prices by Country

In 2019, the average pistachio import price amounted to $X per tonne, increasing by X% against the previous year. Over the period under review, the import price posted a buoyant expansion. The most prominent rate of growth was recorded in 2012 when the average import price increased by X% year-to-year. The import price peaked in 2019 and is likely to see gradual growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the U.S..

From 2007 to 2019, the rate of growth in terms of prices for the U.S. amounted to +X% per year.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pistachios in the world?

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The countries with the highest volumes of pistachio consumption in 2019 were China (264K tonnes), Iran (259K tonnes) and the U.S. (108K tonnes), with a combined 43% share of global consumption.

What are the largest producers of pistachios in the world?

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The countries with the highest volumes of pistachio production in 2019 were Iran (338K tonnes), the U.S. (336K tonnes) and China (212K tonnes), with a combined 61% share of global production.

What are the leading suppliers of pistachios to Republic of Korea?

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In value terms, the U.S. ($9.3M) constituted the largest supplier of pistachio to South Korea.

What are the leading importers of pistachios from Republic of Korea?

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In value terms, Japan ($108K) and Taiwan (Chinese) ($73K) appeared to be the largest markets for pistachio exported from South Korea worldwide.

What is the average export price for pistachios in Republic of Korea?

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In 2019, the average pistachio export price amounted to $19,304 per tonne, rising by 13% against the previous year.

What is the average import price for pistachios in Republic of Korea?

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The average pistachio import price stood at $10,538 per tonne in 2019, surging by 9.6% against the previous year.