Rice Paddy Market in South Korea
In value terms, rice paddy production reduced to $ in estimated in export price. Over the period under review, production, however, recorded a abrupt descent. The growth pace was the most rapid in 2013 when the production volume increased by %. Rice paddy production peaked at $ in 2008; however, from 2009 to , production failed to regain momentum.
The average yield of rice paddy in South Korea expanded to tons per ha in , increasing by % compared with the year before. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of % against the previous year. The rice paddy yield peaked at tons per ha in 2016; however, from 2017 to , the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In , the total area harvested in terms of rice paddy production in South Korea was estimated at ha, remaining relatively unchanged against the year before. Overall, the harvested area, however, continues to indicate a slight decrease. The rice paddy harvested area peaked at ha in 2007; however, from 2008 to , the harvested area remained at a lower figure.
The size of the rice paddy market in South Korea fell modestly to $ in , stabilizing at 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, saw a drastic downturn. Rice paddy consumption peaked at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.