Rapeseed Oil Market Overview in South Korea
In value terms, rapeseed oil production dropped slightly to $ in 2019 estimated in export prices. Over the period under review, production enjoyed a significant increase. The most prominent rate of growth was recorded in 2012 with an increase of % against the previous year. South Korea production peaked at $ in 2017; however, from 2018 to 2019, production remained at a lower figure.
The size of the rapeseed oil market in South Korea amounted to $ in 2019, 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). Over the period under review, consumption posted a prominent expansion. The most prominent rate of growth was recorded in 2011 with an increase of % year-to-year. Over the period under review, the market reached the maximum level in 2019 and is likely to see steady growth in the immediate term.