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Republic of Korea - Taro - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTaro (Cocoyam) Price in South Korea - 2022
Contents:
- Taro (Cocoyam) Price in South Korea (CIF) - 2022
- Taro (Cocoyam) Price in South Korea (FOB) - 2022
- Taro (Cocoyam) Imports in South Korea
- Taro (Cocoyam) Exports in South Korea
Taro (Cocoyam) Price in South Korea (CIF) - 2022
The average taro (cocoyam) import price stood at $1,614 per ton in 2022, growing by 16% against the previous year. Over the period under review, the import price, however, showed a deep contraction. Over the period under review, average import prices reached the peak figure at $5,066 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
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 Vietnam ($2,517 per ton), while the price for China ($1,046 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-2.8%), while the prices for the other major suppliers experienced a decline.
Taro (Cocoyam) Price in South Korea (FOB) - 2022
In 2022, the average taro (cocoyam) export price amounted to $20,667 per ton, jumping by 573% against the previous year. Over the period under review, the export price showed buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Indonesia.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +28.7% per year.
Taro (Cocoyam) Imports in South Korea
In 2022, after three years of growth, there was significant decline in purchases abroad of taro, when their volume decreased by -6.6% to 143 tons. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 232%.
In value terms, taro (cocoyam) imports rose sharply to $231K in 2022. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 174%. Over the period under review, (cocoyam) imports hit record highs in 2022 and are likely to continue growth in the near future.
Import of Taro (Cocoyam) in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Vietnam | 8.4 | 82.6 | 66.5 | 131 | 149.8% |
China | 0.2 | 34.8 | 52.7 | 89.6 | 665.2% |
Bangladesh | N/A | 7.2 | 2.5 | 9.4 | 14.3% |
Myanmar | 50.1 | 34.5 | 91.7 | N/A | 35.3% |
Others | N/A | 2.1 | 0.5 | 1.1 | -27.6% |
Total | 58.7 | 161 | 214 | 231 | 57.9% |
Top Suppliers of Taro (Cocoyam) to South Korea in 2022:
- China (85.7 tons)
- Vietnam (52.1 tons)
- Bangladesh (5.0 tons)
Taro (Cocoyam) Exports in South Korea
In 2022, approx. 9 kg of taro were exported from South Korea; waning by -99.8% compared with 2021 figures. In general, exports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 61% against the previous year. As a result, the exports attained the peak of 4 tons, and then dropped rapidly in the following year.
In value terms, taro (cocoyam) exports dropped notably to $186 in 2022. Over the period under review, exports showed a precipitous setback. The growth pace was the most rapid in 2021 when exports increased by 176% against the previous year. As a result, the exports attained the peak of $12K, and then fell sharply in the following year.
Export of Taro (Cocoyam) in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Indonesia | N/A | N/A | N/A | 0.2 | 0% |
United States | N/A | N/A | 5.9 | N/A | 0% |
Singapore | 4.3 | N/A | 0.1 | N/A | -84.8% |
Canada | 4.5 | 3.5 | 5.0 | N/A | 5.4% |
Others | 2.8 | 0.9 | 1.3 | N/A | -31.9% |
Total | 11.7 | 4.4 | 12.2 | 0.2 | -74.2% |
Top Export Markets for Taro (Cocoyam) from South Korea in 2022:
- Indonesia (9.0 kg)
This report provides an in-depth analysis of the taro (cocoyam) 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:
- FCL 136 - Taro (Cocoyam)
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
-
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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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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