Republic of Korea: Plum And Sloe Market 2024

Plum And Sloe Market Size in Republic of Korea

The South Korean plum and sloe market totaled $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption recorded a mild slump. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Plum And Sloe Production in Republic of Korea

In value terms, plum and sloe production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced setback. The growth pace was the most rapid in 2017 when the production volume increased by X%. Plum and sloe production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

In 2022, the average yield of plums and sloes in South Korea shrank to X tons per ha, remaining stable against 2021 figures. Overall, the yield showed a pronounced slump. The most prominent rate of growth was recorded in 2014 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average plum and sloe yield remained at a lower figure. 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 plums and sloes were harvested in South Korea; remaining relatively unchanged against 2021. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the harvested area dedicated to plum and sloe production attained the maximum at X ha in 2017; afterwards, it flattened through to 2022.

Plum And Sloe Exports

Exports from Republic of Korea

In 2022, approx. X tons of plums and sloes were exported from South Korea; falling by X% against 2021. Overall, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, plum and sloe exports shrank rapidly to $X in 2022. In general, exports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia (X kg), Mongolia (X kg) and Singapore (X kg) were the main destinations of plum and sloe exports from South Korea, together accounting for X% of total exports.

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

In value terms, Mongolia ($X), Australia ($X) and Singapore ($X) were the largest markets for plum and sloe exported from South Korea worldwide, together accounting for X% of total exports.

Mongolia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plum and sloe export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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

Plum And Sloe Imports

Imports into Republic of Korea

After two years of growth, purchases abroad of plums and sloes decreased by X% to X kg in 2022. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X kg, and then declined markedly in the following year.

In value terms, plum and sloe imports dropped significantly to $X in 2022. In general, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2022, the United States (X kg) constituted the largest supplier of plum and sloe to South Korea, with a X% share of total imports. Moreover, plum and sloe imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X kg), fourfold. Myanmar (X kg) ranked third in terms of total imports with a X% share.

From 2013 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Myanmar (X% per year).

In value terms, the United States ($X) constituted the largest supplier of plums and sloes to South Korea, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Myanmar, with a X% share.

From 2013 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: China (X% per year) and Myanmar (X% per year).

Import Prices by Country

In 2022, the average plum and sloe import price amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, saw a mild decline. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2013 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 mixed trend patterns.

Source: IndexBox Platform

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