Buckwheat market in South Korea

Earlier Report Observations

The buckwheat market volume in South Korea fluctuated significantly between 2018 and 2023, ranging from 3 567 tons in 2020 to 5 572 tons in 2022. After a sharp drop in 2020, the market recovered strongly in 2021 and 2022, largely due to increased imports, which reached 3 590 tons in 2022. Domestic production, however, remained below 2 000 tons after 2020, despite ongoing government-led research to improve seed productivity and mechanization.

Agricultural authorities consistently pursued standardization of mechanized cultivation techniques to enhance yield efficiency, as seen in development projects from 2018 through 2024. However, these efforts contrasted with a steep decline in the number of buckwheat farmers on Baengnyeong Island, which fell by 70% between 2018 and 2021, limiting production growth. Research on pollinator selection and net-house cultivation aimed to raise seed purity and output, yet domestic output stayed constrained.

Imported buckwheat, primarily from China, accounted for over 90% of the market by 2024, underscoring reliance on foreign supply. Meanwhile, market diversification into processed products like buckwheat tea and beverages began to emerge, supported by state policies promoting high-value industrialization. Government plans included landscape conservation payments, specialized complex development, and cultural festival linkages to stimulate demand for local buckwheat.

Production buckwheat in South Korea

In kind, 2017-2020, t

From 2017 to 2020, South Korea ranked as the 17th largest producer of buckwheat globally.

Top producers of buckwheat, 2017-2020

World map of production of buckwheat, 2017-2020

The data shows irregular fluctuations, pointing to a volatile market environment. Production reached its lowest point in 2020, with 1 549 tonnes of buckwheat produced in South Korea, marking a 42.7% decrease from the previous year. In contrast, the highest production volume was recorded in 2018 at 2 908 tonnes, representing a 72.8% increase. The gap between these years was 1.9-fold.

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

Exports buckwheat from South Korea

Exports in kind, t

In 2020, South Korea's buckwheat exports totaled 1 tonne, remaining unchanged from 2019. Over the period from 2018 to 2020, exports grew by 48.2%, with a compound annual growth rate (CAGR) of 14.0%.

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

Between 2017 and 2020, the United States and Japan dominated South Korea's buckwheat exports in volume, accounting for 100.0% 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

In 2020, South Korea's cross-border shipments of buckwheat amounted to 5 thousand US dollars, showing little change compared to 2019. From 2018 to 2020, exports surged by 134.5%, translating to an annualized growth rate of 32.9%.

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

From 2017 to 2020, two countries—the United States and Japan—accounted for the majority of South Korea's buckwheat exports in value terms, with a combined share of 100.0% 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 buckwheat to South Korea

Imports in kind, t

In 2020, South Korea imported 2 019 tonnes of buckwheat, showing no significant difference from 2019. The highest import volume was recorded in 2018 at 2 131 tonnes, which was a 6.1% increase. The largest decline occurred in 2019, with a 5.3% drop.

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

During 2017–2020, China and the United States were the primary suppliers of buckwheat to South Korea in volume, together making up 99.4% of total imports.

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

Imported buckwheat volumes in South Korea increased for the third consecutive year. In 2020, South Korea imported buckwheat worth 5 thousand US dollars, reflecting a strong uptick of 19.2% compared to 2019. Over the period from 2017 to 2020, imports rose by 31.9%, with a compound annual growth rate (CAGR) of 9.7%.

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

Throughout 2017–2020, China and the United States formed the core markets for South Korea's buckwheat imports in value terms, with a combined share of 99.5% 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