Wheat and meslin flour and cereals market in South Korea

Earlier Report Observations

Between 2018 and 2020, South Korea's wheat and meslin flour market volume declined from 2.04 million tons to 1.96 million tons. This contraction coincided with sustained increases in raw material costs for key millers and ongoing volatility in international grain markets, which squeezed industry margins. In response, the government initiated closer cooperation with milling companies to monitor supply conditions and launch price stabilization initiatives.

From 2021 onward, the market entered a phase of gradual recovery, with volume rising to 2.03 million tons by 2023. This turnaround was underpinned by persistent public-private collaboration to buffer against external shocks, most notably the 2022 Ukraine conflict which caused a severe spike in global grain prices and supply disruption. Major producers like CJ CheilJedang and Daehan Flour Mills actively participated in state-led stabilization schemes. Authorities subsequently expanded focus to long-term challenges such as climate-induced supply uncertainty and policies to promote domestic grain processing for food security.

Production wheat and meslin flour and cereals in South Korea

In kind, 2017-2020, K t

Top producers of wheat and meslin flour and cereals, 2017-2020

World map of production of wheat and meslin flour and cereals, 2017-2020

South Korea's production of wheat and meslin flour and cereals has declined for the third year in a row. In 2020, the country produced 1 996 K t, marking a 1.8% decrease from the previous year. Looking at the period from 2017 to 2020, overall production fell by 3.3%, which translates to an average annual decline of 1.1%.

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

In value, 2017-2020, M $ US

South Korea's production value for wheat and meslin flour and cereals has increased for the second consecutive year. In 2020, the output was valued at 1 126 M $ US, showing a moderate rise of 4.4% compared to 2019. From 2017 to 2020, production value grew by 6.8%, averaging an annual increase of 2.2%. The lowest value was recorded in 2018 at 1 031 M $ US. The largest decline occurred in 2018 with a drop of 2.2%, while the biggest increase was in 2019 at 4.5%.

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

Exports wheat and meslin flour and cereals from South Korea

Exports in kind, t

South Korea's exports of wheat and meslin flour and cereals have grown for the third year in a row. In 2020, exports reached 45 826 t, which is 5.2% higher than in 2019. Between 2017 and 2020, exports increased by 34.1%, with an average annual growth rate of 10.3%.

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

From 2017 to 2020, the main markets for South Korea's exports in kind were Hong Kong, accounting for 22.8% of exports, Thailand with 18.4%, and the United States at 16.5%. Together, these three markets represented 57.7% of total export 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

South Korea's exports of wheat and meslin flour and cereals in value terms have risen for the third consecutive year. In 2020, exports stood at 25 842 K $ US, an increase of 11.9% compared to the previous year. Over the period from 2017 to 2020, exports grew by 48.2%, with a compound annual growth rate of 14.0%.

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

Between 2017 and 2020, the key markets for South Korea's exports in value terms were Hong Kong, representing 23.1% of exports, the United States at 22.9%, and Thailand with 13.5%. This cluster accounted for 59.4% of total export 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 wheat and meslin flour and cereals to South Korea

Imports in kind, t

South Korea's imports of wheat and meslin flour and cereals have decreased for the third year in a row. In 2020, imports amounted to 12 168 t, down by 19.3% from the previous year. From 2017 to 2020, imports fell by 44.1%, averaging an annual decline of 17.6%.

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

During 2017–2020, the largest suppliers of wheat and meslin flour and cereals to South Korea in kind were Vietnam, with 20.9% of imports, France at 16.1%, and Indonesia with 12.7%. However, even combined, they represented only 49.7% of total imports, indicating a broadly diversified partner base.

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

South Korea's imports of wheat and meslin flour and cereals in value terms have declined for the third consecutive year. In 2020, imports totaled 9 068 K $ US, which is 10.8% lower than in the previous year. Between 2017 and 2020, imports decreased by 31.2%, with an average annual drop of 11.7%.

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

From 2017 to 2020, imports in value terms were relatively evenly distributed. France accounted for 18.7% of imports, Vietnam for 15.5%, and Turkey for 11.7%. Together, these three suppliers represented only 45.9% of total import 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