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Republic of Korea - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends And Insights
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Republic of Korea: Refined Groundnut Oil Market Overview 2021

Refined Groundnut Oil Market Size in Republic of Korea

In 2020, the South Korean refined groundnut oil market decreased by -X% to $X for the first time since 2017, thus ending a two-year rising trend. In general, consumption showed a abrupt downturn. The pace of growth was the most pronounced in 2011 when the market value increased by X% against the previous year. Refined groundnut oil consumption peaked at $X in 2008; however, from 2009 to 2020, consumption remained at a lower figure.

Refined Groundnut Oil Exports

Exports from Republic of Korea

In 2020, approx. X tonnes of refined groundnut oil were exported from South Korea; growing by X% compared with the year before. Over the period under review, exports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2012; however, from 2013 to 2020, exports failed to regain the momentum.

In value terms, refined groundnut oil exports plummeted to $X in 2020. In general, exports, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, exports hit record highs at $X in 2010; however, from 2011 to 2020, exports failed to regain the momentum.

Exports by Country

New Zealand (X kg), Germany (X kg) and the UK (X kg) were the main destinations of refined groundnut oil exports from South Korea, with a combined X% share of total exports. Macao SAR and Finland lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in Macao SAR (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), New Zealand ($X) and Germany ($X) appeared to be the largest markets for refined groundnut oil exported from South Korea worldwide, together comprising X% of total exports. These countries were followed by Macao SAR and Finland, which together accounted for a further X the main countries of destination, Macao SAR (+X% per year) 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 2020, the average refined groundnut oil export price amounted to $X per tonne, declining by -X% against the previous year. In general, the export price, however, saw buoyant growth. The most prominent rate of growth was recorded in 2013 an increase of X% year-to-year. Over the period under review, average export prices attained the peak figure at $X per tonne in 2014; however, from 2015 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Finland ($X per tonne), while the average price for exports to Germany ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Finland, while the prices for the other major destinations experienced a decline.

Refined Groundnut Oil Imports

Imports into Republic of Korea

In 2020, after two years of growth, there was significant decline in overseas purchases of refined groundnut oil, when their volume decreased by -X% to X tonnes. In general, imports saw a deep contraction. The pace of growth was the most pronounced in 2018 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2008; however, from 2009 to 2020, imports remained at a lower figure.

In value terms, refined groundnut oil imports shrank remarkably to $X in 2020. Overall, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2018 when imports increased by X% year-to-year. Over the period under review, imports reached the maximum at $X in 2008; however, from 2009 to 2020, imports stood at a somewhat lower figure.

Imports by Country

China (X tonnes), Spain (X tonnes) and Germany (X tonnes) were the main suppliers of refined groundnut oil imports to South Korea, with a combined X% share of total imports.

From 2007 to 2020, the biggest increases were in Spain, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined groundnut oil suppliers to South Korea were Spain ($X), China ($X) and Germany ($X), with a combined X% share of total imports.

Spain saw 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 more modest paces of growth.

Import Prices by Country

In 2020, the average refined groundnut oil import price amounted to $X per tonne, waning by -X% against the previous year. In general, the import price, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2009 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2019, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Spain ($X per tonne), while the price for the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined groundnut oil in the world?
+
The countries with the highest volumes of refined groundnut oil consumption in 2020 were Afghanistan (43K tonnes), Italy (38K tonnes) and Belgium (11K tonnes), with a combined 60% share of global consumption.
What are the largest producers of refined groundnut oil in the world?
+
The countries with the highest volumes of refined groundnut oil production in 2020 were Italy (39K tonnes), India (22K tonnes) and Belgium (17K tonnes), together comprising 65% of global production.
What are the leading suppliers of refined groundnut oil to Republic of Korea?
+
In value terms, the largest refined groundnut oil suppliers to South Korea were Spain ($28K), China ($26K) and Germany ($7.1K), together accounting for 82% of total imports.
What are the leading importers of refined groundnut oil from Republic of Korea?
+
In value terms, the largest markets for refined groundnut oil exported from South Korea were the UK ($1.8K), New Zealand ($1.4K) and Germany ($640), together comprising 81% of total exports. Macao SAR and Finland lagged somewhat behind, together accounting for a further 19%.
What is the average export price for refined groundnut oil in Republic of Korea?
+
The average refined groundnut oil export price stood at $4,335 per tonne in 2020, reducing by -20.3% against the previous year.
What is the average import price for refined groundnut oil in Republic of Korea?
+
In 2020, the average refined groundnut oil import price amounted to $7,475 per tonne, shrinking by -3.2% against the previous year.

Product coverage:
• Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined groundnut oil market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• South Korea

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Republic of Korea
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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