Wheat and meslin market in South Korea

Earlier Report Observations

The market for wheat and meslin in South Korea is overwhelmingly supplied through imports, with domestic production playing a minor role. Between 2018 and 2023, total market volume first dipped from 3.89 million tons to 3.73 million tons in 2020, then expanded sharply to 4.45 million tons in 2021 and remained above 4.4 million tons thereafter, reaching 4.65 million tons in 2023.

The market's contraction in 2019 and 2020 was modest, but the decisive turnaround came in 2021. This surge aligns with the explosive growth of the home meal kit market during the COVID-19 pandemic, which drastically increased demand for wheat-based ingredients. Imports jumped to over 4.4 million tons that year. In 2022, the Russia-Ukraine war introduced volatility into global grain supply chains, yet import volumes held steady as demand for meal kits was sustained by rising dining-out costs and an increasing number of single-person households. For 2023 and into 2024, imports have stayed at elevated levels, supported by continued consumer interest in meal kits amid economic uncertainty and fluctuating international grain prices affecting raw material procurement.

Domestic production of wheat and meslin, while very small compared to imports, more than doubled from 26 000 tons in 2018 to 52 000 tons in 2023. This growth, however, did not significantly alter the import-dependent structure of the South Korean market.

Production wheat and meslin in South Korea

In kind, 2017-2020, t

Top producers of wheat and meslin, 2017-2020

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

South Korea's wheat and meslin production increased in 2020 after two years of decline. The country produced 16,985 tonnes in 2020, marking a 13.1% rise from 2019. However, looking at the broader period from 2017 to 2020, production actually fell by 54.6%, with a compound annual growth rate of -23.2%. The lowest point was in 2019 at 15,024 tonnes, which saw the steepest decline of 41.7%.

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

Exports wheat and meslin from South Korea

Exports in kind, K t

The data shows irregular changes, reflecting a volatile market environment. Exports varied significantly, with the lowest point in 2017 and the highest in 2019, showing a 4,790-fold difference between these years. In 2020, South Korea's cross-border shipments of wheat and meslin amounted to 0.0 thousand tonnes, representing a sharp decline of 94.0% from the previous year. The peak was recorded in 2019 at 0.2 thousand tonnes, which also saw the largest increase of 10,177.5%.

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

From 2017 to 2020, South Korea's exports of wheat and meslin were heavily dependent on Indonesia, which accounted for 93.3% of total exports in kind.

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, M $ US

The data reveals irregular changes, indicating a volatile market environment. Exports varied widely, with the lowest value in 2017 and the highest in 2019, showing an 81-fold difference. In 2020, wheat and meslin exports from South Korea reached 0.0 million US dollars, indicating a sharp drop of 96.8% from 2019. The maximum value was recorded in 2019 at 0.1 million US dollars, which also saw the largest increase of 4,632.6%.

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

Over the period 2017 to 2020, South Korea's exports of wheat and meslin in value terms were almost entirely tied to Indonesia, whose share amounted to 96.1% 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 wheat and meslin to South Korea

Imports in kind, K t

Foreign wheat and meslin supplies to South Korea declined for the third consecutive year. In 2020, South Korea imported 3,709 thousand tonnes, showing a decrease of 1.0% compared to 2019. Over the period from 2017 to 2020, imports decreased by 12.1%, with a compound annual growth rate of -4.2%.

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

From 2017 to 2020, the largest share of imports in kind came from the United States (35.0% of imports in kind), Australia (27.6% of imports in kind), and Ukraine (17.6% of imports in kind), together comprising 80.2% of total flows.

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, M $ US

Foreign wheat and meslin supplies to South Korea declined for the second consecutive year. In 2020, imports reached 970 million US dollars, amounting to a slight fall of 2.0% compared to the previous year. The maximum value was recorded in 2018 at 1,002 million US dollars, which also saw the largest increase of 4.6%.

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

Over the period 2017 to 2020, the primary suppliers of wheat and meslin to South Korea in value terms were the United States (36.1% of imports in value terms), Australia (30.3% of imports in value terms), and Ukraine (14.7% of imports in value terms), jointly accounting for 81.1% of total imports in value terms.

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

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