Broken rice market in South Korea

Earlier Report Observations

The South Korean broken rice market contracted from 720 thousand tonnes in 2018 to 652 thousand tonnes in 2021, a trend primarily driven by a long-term decline in overall rice consumption. This decrease was linked to shifting dietary habits away from rice and an aging agricultural population. The COVID-19 pandemic in 2020 provided a temporary counterweight, as increased home cooking and meal kit consumption slowed the pace of the decline.

Market dynamics shifted from 2021 onward, supported by government intervention and evolving demand. The introduction of a market isolation policy removed substantial rice volumes from circulation to manage oversupply, while concurrently, rising consumption of processed rice products like rice cakes created new demand channels. These factors, alongside the onset of broken rice imports, contributed to a market recovery, with volume reaching 673 thousand tonnes by 2023.

Production broken rice in South Korea

In kind, 2017-2020, K t

From 2017 to 2020, South Korea maintained the 10th position globally in terms of broken rice production volume.

Top producers of broken rice, 2017-2020

World map of production of broken rice, 2017-2020

South Korea's broken rice production declined for the third consecutive year. In 2020, the country produced 653.7 K t of broken rice, marking a 6.6% decrease compared to the previous year. Over the period from 2017 to 2020, production fell by 11.7%, which translates to an average annual decline of 4.1%.

Annual dynamics of production in South Korea in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Broken rice production in South Korea decreased for the second year in a row. In 2020, the output was valued at 2 066 M $ US, down by 5.3% year-over-year. Between 2017 and 2020, production dropped by 12%, with a compound annual growth rate (CAGR) of -4.2%. The highest value was recorded in 2018 at 2 442 M $ US. The largest decline occurred in 2019, falling by 10.6%, while the biggest increase was in 2018, rising by 3.9%.

Annual dynamics of production in South Korea in value, 2017-2020, M $ US

Exports broken rice from South Korea

Exports in kind, t

The market displayed volatility during the observed period. Exports reached their lowest point in 2020 and peaked in 2017, with a 5.1-fold difference between these years. In 2020, South Korea exported 39.3 t of broken rice, a sharp decline of 72.6% from the previous year. The largest increase was recorded in 2019, at 13.1%.

Annual dynamics of product's exports from South Korea in kind, 2017-2020, t

From 2017 to 2020, the United States (64.8% of exports in kind), Australia (11.2%), and Germany (6.9%) were the primary destinations for South Korea's broken rice exports, collectively accounting for 82.9% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South Korea in kind, 2017-2020

Exports in value, K $ US

The data shows irregular changes, reflecting a volatile market environment. Exports bottomed in 2020 and peaked in 2017, with a 5.1-fold difference. In 2020, South Korea exported broken rice worth 124.2 K $ US, which is 72.2% lower than the previous year. The largest increase was in 2019, at 4.0%.

Annual dynamics of product's exports from South Korea in value, 2017-2020, K $ US

Between 2017 and 2020, the United States (64.5% of exports in value terms), Australia (10.9%), and Germany (6.8%) formed the main group of destinations for South Korea's broken rice exports by value, together representing 82.2% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South Korea in value, 2017-2020

Imports broken rice to South Korea

Imports in kind, t

The market showed an unstable trend throughout the timeframe. Imports reached their lowest point in 2019 and peaked in 2020, varying by 2.7 times. In 2020, South Korea imported 0.1 t of broken rice, a significant increase of 170.6% compared to the previous year. The minimum value was recorded in 2019 at 0.0 t, with the largest decline that year at 27.7%.

Annual dynamics of product's imports to South Korea in kind, 2017-2020, t

From 2017 to 2020, the United States (53.6% of imports in kind), Vietnam (17.8%), and Thailand (13.3%) remained the main suppliers of broken rice to South Korea, jointly forming 84.6% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South Korea in kind, 2017-2020

Imports in value, K $ US

In 2020, South Korea's broken rice imports totaled 0.6 K $ US, representing a steep increase of 36.5% compared to 2019. Between 2017 and 2020, imports rose by 8.5%, equating to an average annual growth rate of 2.8%. The minimum value was recorded in 2019 at 0.4 K $ US, while the maximum was in 2018 at 0.9 K $ US. The largest decline occurred in 2019, falling by 51.9%, and the largest increase was in 2018, rising by 65.3%.

Annual dynamics of product's imports to South Korea in value, 2017-2020, K $ US

Between 2017 and 2020, the United States (68.8% of imports in value terms), Vietnam (6.7%), and Australia (5.5%) accounted for the largest share of South Korea's broken rice imports by value, together comprising 81.0% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South Korea in value, 2017-2020