What is the price of rice per kilogram/pound in South Korea today?
The retail price range for South Korea rice is between US$ 3.40 and US$ 6.22 per kilogram or between US$ 1.54 and US$ 2.82 per pound(lb). Click here to see today's exact prices of rice in South Korea
The retail price range in South Korean won for rice is between KRW 4,531.80 and KRW 8,286.72 per kilogram or between KRW 2,055.24 and KRW 3,758.15 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2024, the approximate wholesale price range for South Korea rice is between US$ 2.38 and US$ 4.35 per kilogram or between US$ 1.08 and US$ 1.97 per pound(lb).
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South Korea Rice Export Prices - Historical, Trends and Prediction
The export price per kilogram of Rice from South Korea over the last five years has seen a steady decline. In 2017, the price was 2.04 US dollars per kilogram, and by 2021, it had dropped to 0.65 US dollars per kilogram. The lowest price was seen in 2019, when it was 0.50 US dollars per kilogram. The price has since increased slightly to 0.65 US dollars per kilogram in 2021. Based on this trend, it is predicted that the export price per kilogram of Rice from South Korea in 2023 will be 0.50 US dollars per kilogram, and in 2024 will be 0.34 US dollars per kilogram.The South Korea rice exports are classified as:
- Semi-milled or wholly milled rice, whether or not polished or glazed (HS code 100630)
- Rice in the husk, "paddy" or rough (HS code 100610)
- Broken rice (HS code 100640)
- Husked or brown rice (HS code 100620)
South Korea Rice Import Prices - Historical, Trends and Prediction
The import price per kilogram of Rice into South Korea has seen a steady decline over the last five years. In 2012, the price was 1.99 US dollars per kg, and this increased to 2.22 US dollars per kg in 2013. However, since then, the price has been decreasing, with the price in 2014 being 2.31 US dollars per kg, 2.25 US dollars per kg in 2015, 2.1 US dollars per kg in 2016, and 2.04 US dollars per kg in 2017. The price has seen a significant drop in 2018, with the price being 0.68 US dollars per kg, and this has been maintained in 2019 and 2020, with the price being 0.5 US dollars per kg. In 2021, the price increased slightly to 0.65 US dollars per kg, and in 2022, the price decreased to 0.34 US dollars per kg. Based on this trend, it is predicted that the import price per kilogram of Rice into South Korea in 2023 will be 0.19 US dollars per kg, and in 2024, the price will be 0.04 US dollars per kg.Export values for South Korea rice
The total values in export for rice in South Korea were US$ 9,696, US$ 11,282, US$ 87,646 and US$ 52,466 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Cereals/Grains category in South Korea: Wheat, Rye, Barley, Oats, Maize, Sorghum, Buckwheet, Millet, Canary seed & Fonio.
See prices of rice in other countries across Asia: Kazakhstan rice, Kyrgyzstan rice, Tajikistan rice, Turkmenistan rice, Uzbekistan rice, China rice, Hong Kong rice, Macao rice, North Korea rice & Mongolia rice.
South Korea rice - Production, Exports, Imports, Seasons and HS Codes
The volume of rice exported by South Korea in 2020 was 110,390 tonnes. In 2019 South Korea exported 50,354 tonnes of rice. For 2019 alone, the demand for South Korea rice (cereals/grains category) has reduced, recording a change of -20.835 percent compared to the year 2018. Between 2017 and 2019, rice's exports went up by 810.23 pc bringing the country US$52.47m for the year 2019. South Korea's rice exports are categorised as:
- Husked or brown rice (HS code 100620)
- Broken rice (HS code 100640)
- Semi-milled or wholly milled rice, whether or not polished or glazed (HS code 100630)
- Rice in the husk, "paddy" or rough (HS code 100610)
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South Korea rice export values
In 2019, South Korea supplied rice valued at 52.47m USD, a decrease of -40.13% from 2018's total rice export of 87.646m USD. The annual change in value of South Korea rice between 2017 to 2018 was 676.866 pc.
The annual/yearly change in the quantity of South Korea's rice exports between 2017 and 2019 was 810.23 percent in comparison to a variation of -20.835% in the period between 2018 and 2019.
South Korea's share of the world's total rice's exports in 2019 was less than 1%. The country is ranked number 21 in world exports of rice.
Export markets for South Korea rice ( in '000$ )
South Korea's leading export markets for rice are Yemen, Somalia, Kenya, United Arab Emirates (UAE) and Turkey.
Import/Export Trends
South Korea is a net exporter of rice. The annual growth of South Korea rice in value between 2015 to 2019 was -14%, per annum, while annual growth in quantity for the same period was 32%, per annum.
South Korea purchased 656,396 tonnes of rice in 2019.
Production
The production of rice in South Korea was 33,447,240 tonnes in 2019 and is forecast to change by an average of -3.45%. The country had approximately 5,838,512.00 hectares under rice cultivation.