Republic of Korea - Carrots And Turnips - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCarrot and Turnip Price in South Korea - 2022
Contents:
- Carrot and Turnip Price in South Korea (CIF) - 2022
- Carrot and Turnip Price in South Korea (FOB) - 2022
- Carrot and Turnip Imports in South Korea
- Carrot and Turnip Exports in South Korea
Carrot and Turnip Price in South Korea (CIF) - 2022
In December 2022, the average carrot and turnip import price amounted to $332 per ton, dropping by -9.2% against the previous month. Over the period under review, the import price continues to indicate a noticeable downturn. The growth pace was the most rapid in January 2022 when the average import price increased by 20% month-to-month. The import price peaked at $680 per ton in February 2022; however, from March 2022 to December 2022, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From December 2021 to December 2022, the rate of growth in terms of prices for China amounted to -4.1% per month.
Carrot and Turnip Price in South Korea (FOB) - 2022
The average carrot and turnip export price stood at $962 per ton in 2022, which is down by -5.2% against the previous year. In general, the export price continues to indicate a mild decrease. The pace of growth was the most pronounced in 2016 when the average export price increased by 111%. The export price peaked at $1,301 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($1,336 per ton), while the average price for exports to Guam ($884 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 Vietnam (+45.0%), while the prices for the other major destinations experienced mixed trend patterns.
Carrot and Turnip Imports in South Korea
In 2022, after two years of decline, there was growth in supplies from abroad of carrots and turnips, when their volume increased by 4.9% to 96K tons. Over the period under review, imports, however, saw a perceptible curtailment.
In value terms, carrot and turnip imports totaled $44M in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 11%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Carrot and Turnip in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 35.9 | 32.5 | 38.3 | 39.8 | 3.5% |
| Vietnam | 2.8 | 5.8 | 4.2 | 4.3 | 15.4% |
| Others | N/A | N/A | 0.1 | N/A | 0% |
| Total | 38.6 | 38.3 | 42.5 | 44.1 | 4.5% |
Top Suppliers of Carrot and Turnip to South Korea in 2022:
- China (88.6K tons)
- Vietnam (7.7K tons)
Carrot and Turnip Exports in South Korea
In 2022, the amount of carrots and turnips exported from South Korea fell to 233 tons, which is down by -13.5% on 2021 figures. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 30% against the previous year. As a result, the exports reached the peak of 269 tons, and then contracted in the following year.
In value terms, carrot and turnip exports fell markedly to $224K in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +10.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. As a result, the exports attained the peak of $273K, and then declined rapidly in the following year.
| Export of Carrot and Turnip in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Guam | 72.9 | 53.8 | 80.8 | 96.0 | 9.6% |
| Northern Mariana Islands | 88.4 | 72.6 | 95.5 | 81.9 | -2.5% |
| Russia | 2.5 | 20.7 | 85.9 | 45.0 | 162.1% |
| Hong Kong SAR | 1.9 | 31.8 | 9.7 | 0.7 | -28.3% |
| Japan | N/A | 8.5 | 0.5 | N/A | -94.1% |
| Others | 1.1 | 0.1 | 0.8 | 0.6 | -18.3% |
| Total | 167 | 187 | 273 | 224 | 10.3% |
Top Export Markets for Carrot and Turnip from South Korea in 2022:
- Guam (108.5 tons)
- Northern Mariana Islands (90.2 tons)
- Russia (33.7 tons)
- Hong Kong SAR (0.3 tons)
This report provides an in-depth analysis of the carrot and turnip 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 426 - Carrot
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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This report provides an in-depth analysis of the carrot and turnip market in Republic of Korea.
3597
This report provides an in-depth analysis of the global carrot and turnip market.
955
This report provides an in-depth analysis of the carrot and turnip market in Republic of Korea.
3597
This report provides an in-depth analysis of the global carrot and turnip market.
8301
Global carrot and turnip consumption amounted to X thousand tons in 2015, moving up by +X% against the previous year level.
4389
Global carrot and turnip exports amounted to X thousand tons in 2015, going up by +X% against the previous year level.
4976
Global carrot and turnip imports amounted to X thousand tons in 2015, going up by +X% against the previous year level.
5620
In 2015, the country with the largest volume of the carrot and turnip output was China (X thousand tons), accounting for X% of global production.
1793
Despite relatively rocky export numbers in 2014, the Netherlands remained one of the leaders in the global carrot and turnip trade. In 2014, the Netherlands exported X thousand tons of carrot and turnip totaling X million USD, X% under the previo
8301
Global carrot and turnip consumption amounted to X thousand tons in 2015, moving up by +X% against the previous year level.
4389
Global carrot and turnip exports amounted to X thousand tons in 2015, going up by +X% against the previous year level.
4976
Global carrot and turnip imports amounted to X thousand tons in 2015, going up by +X% against the previous year level.
5620
In 2015, the country with the largest volume of the carrot and turnip output was China (X thousand tons), accounting for X% of global production.
1793
Despite relatively rocky export numbers in 2014, the Netherlands remained one of the leaders in the global carrot and turnip trade. In 2014, the Netherlands exported X thousand tons of carrot and turnip totaling X million USD, X% under the previo
