Republic of Korea - Broken Rice - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBroken Rice Price in South Korea - 2022
Contents:
- Broken Rice Price in South Korea (CIF) - 2022
- Broken Rice Price in South Korea (FOB) - 2022
- Broken Rice Imports in South Korea
- Broken Rice Exports in South Korea
Broken Rice Price in South Korea (CIF) - 2022
The average broken rice import price stood at $463 per ton in 2022, dropping by -4.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 10% against the previous year. As a result, import price attained the peak level of $482 per ton, and then dropped in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($598 per ton), while the price for Thailand totaled $451 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+44.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Broken Rice Price in South Korea (FOB) - 2022
The average broken rice export price stood at $1,747 per ton in 2022, increasing by 2.7% against the previous year. Over the period under review, the export price saw a temperate expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 61% against the previous year. As a result, the export price reached the peak level of $1,901 per ton. From 2014 to 2022, the average export prices remained at a lower figure.
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 Mauritius ($5,919 per ton), while the average price for exports to Ghana ($421 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 Slovakia (+1,410.2%), while the prices for the other major destinations experienced more modest paces of growth.
Broken Rice Imports in South Korea
In 2022, overseas purchases of broken rice decreased by -12.1% to 10K tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +10.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 32%. As a result, imports attained the peak of 12K tons, and then declined in the following year.
In value terms, broken rice imports shrank dramatically to $4.7M in 2022. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 46%. As a result, imports attained the peak of $5.5M, and then reduced rapidly in the following year.
Import of Broken Rice in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Thailand | 2.7 | 3.3 | 4.9 | 4.2 | 15.9% |
Vietnam | 0.4 | 0.5 | 0.6 | 0.5 | 7.7% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 3.2 | 3.8 | 5.5 | 4.7 | 13.7% |
Top Suppliers of Broken Rice to South Korea in 2022:
- Thailand (9.3K tons)
- Vietnam (0.8K tons)
Broken Rice Exports in South Korea
In 2022, shipments abroad of broken rice was finally on the rise to reach 261 tons after two years of decline. Overall, exports, however, saw a significant decrease.
In value terms, broken rice exports soared to $457K in 2022. Over the period under review, exports, however, saw a drastic downturn.
Export of Broken Rice in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 267 | 246 | 82.1 | 233 | -4.4% |
New Zealand | 50.9 | 216 | 39.0 | 63.9 | 7.9% |
Mauritius | 18.0 | 60.0 | 22.0 | 47.1 | 37.8% |
Bangladesh | 9.7 | 27.8 | 8.9 | 16.1 | 18.4% |
Germany | 14.8 | 8.3 | 3.5 | 11.3 | -8.6% |
United Arab Emirates | 6.7 | 8.4 | 5.8 | 10.5 | 16.2% |
Micronesia | 8.7 | 21.9 | 6.0 | 9.7 | 3.7% |
United Kingdom | 5.6 | 5.3 | 4.4 | 8.0 | 12.6% |
France | 3.5 | 11.3 | 3.9 | 7.1 | 26.6% |
Turkey | 33.6 | 10.2 | 2.9 | 4.7 | -48.1% |
Australia | 69.7 | 25.7 | 3.0 | 4.3 | -60.5% |
Gambia | 0.8 | 3.9 | 1.7 | 3.1 | 57.1% |
Ghana | 1.8 | 4.7 | 1.4 | 2.3 | 8.5% |
Others | 96.7 | 39.7 | 39.0 | 35.6 | -28.3% |
Total | 588 | 689 | 224 | 457 | -8.1% |
Top Export Markets for Broken Rice from South Korea in 2022:
- United States (88.4 tons)
- New Zealand (50.1 tons)
- Micronesia (22.5 tons)
- United Arab Emirates (15.2 tons)
- Bangladesh (8.9 tons)
- Germany (8.5 tons)
- United Kingdom (8.3 tons)
- Mauritius (8.0 tons)
- Gambia (5.8 tons)
- Ghana (5.4 tons)
- France (5.0 tons)
- Turkey (4.5 tons)
- Australia (2.9 tons)
This report provides an in-depth analysis of the broken rice 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 2030.
Product coverage:
- Prodcom 10611250 - Broken rice (including enriched rice, parboiled rice)
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Global rice consumption amounted to X thousand tons in 2015, increasing by +X% against the previous year level.
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