Bambara Bean Market in South Korea
Market Overview
The South Korean bambara bean market soared 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). Overall, consumption, however, showed a relatively flat trend pattern. Bambara bean consumption peaked at $ in ; however, from to , consumption remained at a lower figure.
In value terms, bambara bean production expanded markedly to $ in estimated in export price. In general, production, however, recorded a slight contraction. The growth pace was the most rapid in when the production volume increased by %. Bambara bean production peaked at $ in 2015; however, from 2016 to , production remained at a lower figure.
The average yield of bambara beans in South Korea was estimated at less than kg per ha in , approximately reflecting the year before. Overall, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The bambara bean harvested area in South Korea stood at less than ha in , remaining relatively unchanged against figures. Overall, the harvested area continues to indicate a relatively flat trend pattern.
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). Overall, consumption, however, showed a relatively flat trend pattern. Bambara bean consumption peaked at $ in ; however, from to , consumption remained at a lower figure.In value terms, bambara bean production expanded markedly to $
in estimated in export price. In general, production, however, recorded a slight contraction. The growth pace was the most rapid in when the production volume increased by %. Bambara bean production peaked at $ in 2015; however, from 2016 to , production remained at a lower figure.The average yield of bambara beans in South Korea was estimated at less than
kg per ha in , approximately reflecting the year before. Overall, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.The bambara bean harvested area in South Korea stood at less than
ha in , remaining relatively unchanged against figures. Overall, the harvested area continues to indicate a relatively flat trend pattern.Consumption
In , the amount of bambara beans consumed in South Korea skyrocketed to tons, increasing by % compared with the previous year. Over the period under review, consumption, however, showed a pronounced contraction. Over the period under review, consumption attained the peak volume at tons in ; however, from to , consumption stood at a somewhat lower figure.
The revenue of the bambara bean market in South Korea soared to $ in , rising by % 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). Overall, consumption, however, recorded a relatively flat trend pattern. Bambara bean consumption peaked at $ in ; however, from to , consumption failed to regain momentum.
, the amount of bambara beans consumed in South Korea skyrocketed to tons, increasing by % compared with the previous year. Over the period under review, consumption, however, showed a pronounced contraction. Over the period under review, consumption attained the peak volume at tons in ; however, from to , consumption stood at a somewhat lower figure.The revenue of the bambara bean market in South Korea soared to $
in , rising by % 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). Overall, consumption, however, recorded a relatively flat trend pattern. Bambara bean consumption peaked at $ in ; however, from to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for bambara bean in South Korea, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to kg by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to kg by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in South Korea increased significantly over the last decade (from % to %). Total import supply of bambara bean is expected to rise, though it will be moderately impacted by price increases.
% to %). Total import supply of bambara bean is expected to rise, though it will be moderately impacted by price increases.Trade Balance
South Korea remains a net exporter of bambara bean; in physical and value terms, exports consistently exceeded imports from 2012 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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