Spinach Market Overview in South Korea
In value terms, spinach production expanded slightly to $ in estimated in export prices. Overall, production showed a moderate expansion. The pace of growth was the most pronounced in 2011 with an increase of % year-to-year. Over the period under review, production hit record highs in and is likely to see steady growth in years to come.
The average yield of spinach in South Korea shrank modestly to tonnes per ha in , approximately mirroring the year before. Over the period under review, the yield recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 with an increase of % year-to-year. The spinach yield peaked at tonnes per ha in 2010; however, from 2011 to , the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The spinach harvested area in South Korea reached ha in , flattening at the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the harvested area increased by % y-o-y. As a result, the harvested area reached the peak level of ha. From 2012 to , the growth of the spinach harvested area remained at a somewhat lower figure.
The revenue of the spinach market in South Korea expanded to $ in , with an increase of % 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). Over the period under review, the total consumption indicated a noticeable increase from 2007 to : its value decreased at an average annual rate of -% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. The most prominent rate of growth was recorded in 2011 with an increase of % year-to-year. Spinach consumption peaked in and is expected to retain growth in the near future.