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Republic of Korea - Crude Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Crude Palm Oil Market 2024
Crude Palm Oil Market Size in Republic of Korea
The South Korean crude palm oil market skyrocketed to $X in 2023, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a lower figure.
Crude Palm Oil Exports
Exports from Republic of Korea
In 2023, overseas shipments of crude palm oil decreased by X% to X kg for the first time since 2020, thus ending a two-year declining trend. In general, exports faced a sharp slump. Over the period under review, the exports attained the maximum at X kg in 2018; however, from 2019 to 2023, the exports failed to regain momentum.
In value terms, crude palm oil exports contracted markedly to $X in 2023. Over the period under review, exports saw a significant contraction. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.
Exports by Country
Japan (X kg) was the main destination for crude palm oil exports from South Korea, with a approx. X% share of total exports.
From 2018 to 2020, the average annual growth rate of volume to Japan was relatively modest.
From 2018 to 2020, the average annual rate of growth in terms of value to Japan was relatively modest.
Export Prices by Country
The average crude palm oil export price stood at $X per ton in 2020, therefore, remained relatively stable against the previous year. Over the period under review, the export price posted a significant increase. The most prominent rate of growth was recorded in 2019 when the average export price decreased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2020 and is likely to continue growth in the near future.
As there is only one major export destination, the average price level is determined by prices for Japan.
From 2018 to 2020, the rate of growth in terms of prices for Japan amounted to X% per year.
Crude Palm Oil Imports
Imports into Republic of Korea
In 2023, supplies from abroad of crude palm oil was finally on the rise to reach X tons after three years of decline. Overall, imports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.
In value terms, crude palm oil imports surged to $X in 2023. Over the period under review, imports, however, continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2023, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2023, Cambodia (X tons) constituted the largest supplier of crude palm oil to South Korea, with a X% share of total imports. Moreover, crude palm oil imports from Cambodia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with an X% share.
From 2012 to 2023, the average annual growth rate of volume from Cambodia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and the United States (X% per year).
In value terms, the United States ($X), Cambodia ($X) and Indonesia ($X) constituted the largest crude palm oil suppliers to South Korea, together accounting for X% of total imports.
Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
In 2023, the average crude palm oil import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, showed a abrupt slump. The growth pace was the most rapid in 2016 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Cambodia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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This report provides an in-depth analysis of the crude palm 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 2030.
Product coverage:
- FCL 257 - Oil of palm
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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- Market Research in South Korea
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