Wheat bran, sharps and residues market in South Korea

Earlier Report Observations

The market volume for wheat bran, sharps and residues in South Korea fluctuated between 2018 and 2021, starting at 336.7 thousand tons. It dipped to 315.4 thousand tons in 2019 due to price competition in the international grain market, which affected feed wheat consumption and reduced imports. The market rebounded to 339.2 thousand tons in 2020, driven by increased home baking demand during the COVID-19 pandemic, which boosted flour production and consequently the output of milling by-products. Growth continued to 346.8 thousand tons in 2021, supported by the rapid expansion of the meal kit market, which raised demand for wheat flour.

After stabilizing at 347.8 thousand tons in 2022, the market volume fell sharply to 292.8 thousand tons in 2023. This decline followed reduced imports, influenced by the Russia-Ukraine war's impact on international wheat supplies, which had begun affecting food wheat imports in the previous year. During this period, the domestic wheat industry shifted its focus from quantity to quality, supported by government investments and technology development for utilizing by-products.

Production wheat bran, sharps and residues in South Korea

In kind, 2017-2020, K t

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

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

South Korea's production of wheat bran, sharps, and residues increased after a two-year decline. In 2019, production reached its lowest point at 251.0 thousand tons, marking a 1.2% decrease. The following year, in 2020, production rose to 253.0 thousand tons, reflecting a modest 0.8% increase compared to 2019.

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

Exports wheat bran, sharps and residues from South Korea

Exports in kind, K t

The data shows irregular changes, indicating a volatile market environment. From 2017 to 2020, exports experienced significant fluctuations, with a peak-to-trough amplitude of 14.3 times. In 2019, exports recorded their largest decline at 4.4%. By 2020, exports rebounded sharply to 1.7 thousand tons, representing a substantial 1,327.6% increase compared to the previous year.

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

From 2017 to 2020, Japan was the sole destination for South Korea's exports of wheat bran, sharps, and residues in kind, 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

Foreign supplies of wheat bran, sharps, and residues from South Korea increased for the third consecutive year. In 2020, exports amounted to 405 thousand US dollars, marking a significant gain of 654.2% compared to the previous year. Over the period from 2017 to 2020, exports grew by 814.4%, with a compound annual growth rate of 109.1%.

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

From 2017 to 2020, exports in value terms of wheat bran, sharps, and residues from South Korea were almost entirely concentrated in Japan, which held a 100.0% share.

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 bran, sharps and residues to South Korea

Imports in kind, K t

After a two-year contraction, South Korea's imports of wheat bran, sharps, and residues increased. In 2019, imports reached their minimum at 64.5 thousand tons, following the largest decline of 26.7% in 2018. By 2020, imports rose to an unspecified value, showing a gain of 36.3% compared to 2019. Over the period from 2017 to 2020, imports decreased by 22.1%, with a compound annual growth rate of 8.0%.

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

From 2017 to 2020, Indonesia was the dominant supplier of wheat bran, sharps, and residues to South Korea in kind, accounting for 74.1% of total imports, while other countries shared the remaining volume.

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

After a two-year decrease, shipments of wheat bran, sharps, and residues to South Korea from abroad increased. In 2019, imports hit their lowest point at 13,673 thousand US dollars, after the largest decline of 19.1% in 2018. By 2020, imports reached 17,909 thousand US dollars, which is 31.0% higher than the prior year. Over the period from 2017 to 2020, imports decreased by 11.9%, with a compound annual growth rate of 4.2%.

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

From 2017 to 2020, Indonesia was the key supplier of wheat bran, sharps, and residues to South Korea in value terms, taking 75.8% of total imports, while a diversified group of other countries accounted for the remainder.

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

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