Republic of Korea: Rye Market 2024

Rye Market Size in Republic of Korea

The South Korean rye market skyrocketed to $X in 2022, surging by X% against the previous year. In general, consumption continues to indicate a deep contraction. Rye consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Rye Production in Republic of Korea

In value terms, rye production shrank sharply to $X in 2022 estimated in export price. Over the period under review, production, however, showed significant growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

In 2022, the average rye yield in South Korea contracted modestly to X tons per ha, remaining stable against 2021. Overall, the yield indicated a prominent increase from 2012 to 2022: its figure 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, rye yield decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the yield increased by X%. The rye yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The rye harvested area in South Korea totaled X ha in 2022, approximately reflecting the previous year's figure. In general, the harvested area continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of X%. The rye harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

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Rye Exports

Exports from Republic of Korea

Rye exports from South Korea amounted to X kg in 2022, remaining constant against the year before. Over the period under review, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, rye exports amounted to $X in 2022. Overall, exports continue to indicate a dramatic setback. 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 attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg) was the main destination for rye exports from South Korea, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest.

Export Prices by Country

In 2022, the average rye export price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to X% per year.

Rye Imports

Imports into Republic of Korea

Rye imports into South Korea fell slightly to X tons in 2022, approximately reflecting the year before. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, rye imports surged to $X in 2022. Overall, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) was the main supplier of rye to South Korea, accounting for a X% share of total imports. Moreover, rye imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), more than tenfold.

From 2012 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: Canada (X% per year) and South Africa (X% per year).

In value terms, the United States ($X) constituted the largest supplier of rye to South Korea, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and South Africa (X% per year).

Import Prices by Country

The average rye import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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