Maize bran, sharps and residues market in South Korea

Earlier Report Observations

Between 2018 and 2021, the market for maize bran and residues in South Korea saw gradual growth, increasing from 383.3 thousand tons to 389.2 thousand tons. The sector has historically relied heavily on imports, with a domestic self-sufficiency rate of only 0.8%, and remained sensitive to international grain price swings and exchange rate movements. The COVID-19 pandemic in 2020 disrupted global supply chains, raising shipping costs and causing logistical delays, while the government responded by tightening import management and streamlining customs procedures. The outbreak of the Russia‑Ukraine war in 2021 further destabilized global grain supplies, pushing up futures prices and import costs.

Market expansion accelerated markedly from 2022 onward, with volume reaching 401.7 thousand tons in 2022 and jumping to 450.4 thousand tons in 2023. This surge was primarily driven by a shift in consumer preferences toward unsweetened and low‑calorie foods, which broadened the use of maize by‑products such as high‑fructose corn syrup. A concurrent decline in consumer trust in alternative sweeteners also favored corn‑based products. On the policy side, the government reinforced grain‑supply stability through strategic reserve management and import‑diversification measures. Although Middle East tensions and maritime transport instability continued to fuel price volatility in 2023, underlying demand growth supported sustained market expansion.

Production maize bran, sharps and residues in South Korea

In kind, 2017-2020, K t

From 2017 to 2020, South Korea ranked as the world's 11th largest producer of maize bran, sharps, and residues.

Top producers of maize bran, sharps and residues, 2017-2020

World map of production of maize bran, sharps and residues, 2017-2020

South Korea's production of maize bran, sharps, and residues grew for the second year in a row. In 2020, the country produced 388.9 K t, marking a 0.9% increase from the previous year. The lowest production level was in 2018 at 384.7 K t, which saw the largest decline of 1.1%.

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

In value, 2017-2020, M $ US

Following a two-year decline, production of maize bran, sharps, and residues in South Korea rebounded. In 2020, the output was valued at 240.3 M $ US, up 14.2% from the year before. Over the period from 2017 to 2020, production rose by 4.2%, averaging an annual growth rate of 1.4%. The lowest value was recorded in 2019 at 210.4 M $ US, which experienced the largest drop of 6.7%.

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

Exports maize bran, sharps and residues from South Korea

Exports in kind, t

The market showed significant volatility during this period. Export volumes reached their lowest point in 2019 at 246 t, then peaked in 2018 at 1 394 t, resulting in a 5.7-fold difference between these years. In 2020, South Korea exported 443 t, a sharp increase of 80.0% compared to 2019. The largest decline occurred in 2019 at 82.4%, while the largest increase was in 2018 at 240.0%.

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

Between 2017 and 2020, Malaysia and Brunei Darussalam were the dominant buyers of maize bran, sharps, and residues from South Korea, together accounting for 100.0% of total exports in volume.

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 market displayed an unstable pattern over the timeframe. Export values hit a low in 2019 at 134.3 K $ US and peaked in 2018 at 816.8 K $ US, with a 6.1-fold difference. In 2020, exports totaled 273.6 K $ US, a substantial rise of 103.7% from the previous year. The largest decline was in 2019 at 83.6%, and the largest increase was in 2018 at 236.1%.

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

From 2017 to 2020, Malaysia and Brunei Darussalam continued to be the primary destinations for South Korea's exports in value terms, together making up 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 maize bran, sharps and residues to South Korea

Imports in kind, t

Market performance was marked by notable fluctuations. Import volumes dropped to their lowest in 2019 at 0.1 t and peaked in 2018 at 41 t, showing a 649-fold variation. In 2020, imports rose to 11 t, a dramatic increase of 16,802.3% compared to 2019. The largest decline was in 2019 at 99.8%.

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

During 2017–2020, Thailand and China were the key sources for South Korea's imports in volume, jointly representing 90.1% of total flows, with other markets contributing a smaller share.

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

The market trend was unstable throughout the period. Import values fell to a low in 2019 at 0.3 K $ US and reached a high in 2018 at 17.0 K $ US, with a 68-fold difference. In 2020, imports amounted to 7.1 K $ US, a steep rise of 2,703.6% from the previous year. The largest decline occurred in 2019 at 98.5%.

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

From 2017 to 2020, Thailand, the United States, and China were the main suppliers of maize bran, sharps, and residues to South Korea in value terms. Thailand accounted for 58.1%, the United States for 21.2%, and China for 18.4%, together covering 97.7% of total imports.

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

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