What is the price of olive oil per kilogram/pound in South Korea today?
The retail price range for South Korea olive oil is between US$ 6.97 and US$ 11.16 per kilogram or between US$ 3.16 and US$ 5.06 per pound(lb). Click here to see today's exact prices of olive oil in South Korea
The retail price range in South Korean won for olive oil is between KRW 9,292.47 and KRW 14,875.76 per kilogram or between KRW 4,214.27 and KRW 6,746.38 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2025, the approximate wholesale price range for South Korea olive oil is between US$ 4.88 and US$ 7.81 per kilogram or between US$ 2.21 and US$ 3.54 per pound(lb).
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South Korea Olive Oil Export Prices - Historical, Trends and Prediction
The export price per kilogram of Olive Oil from South Korea over the last five years has been relatively stable. In 2017, the price was 3.53 US $ per kg, followed by 4.73 US $ per kg in 2018, 5.21 US $ per kg in 2019, 5.19 US $ per kg in 2020, and 4.79 US $ per kg in 2021. This indicates a slight decrease in the price of Olive Oil from South Korea over the last five years. Based on this trend, it is predicted that the export price per kilogram of Olive Oil from South Korea in 2023 will be around 3.20 US $ per kg and in 2024 will be around 2.90 US $ per kg.The olive oil exports from South Korea are categorised as:
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
South Korea Olive Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Olive Oil into South Korea has seen a steady increase over the last five years. In 2017, the price was recorded at $3.53, followed by a slight increase to $4.73 in 2018. In 2019, the price rose to $5.21, and then to $5.19 in 2020. The price then dropped slightly to $4.79 in 2021, before decreasing further to $3.42 in 2022. Looking ahead, it is likely that the import price per kilogram of Olive Oil into South Korea will remain relatively stable in the next two years. We predict that the price will remain at $3.42 in 2023, and then increase slightly to $3.50 in 2024.Export values for South Korea olive oil
The total values in export for olive oil in South Korea were US$ 1,819, US$ 1,288, US$ 781 and US$ 885 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in South Korea: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of olive oil in other countries across Asia: Kazakhstan olive oil, Kyrgyzstan olive oil, Tajikistan olive oil, Turkmenistan olive oil, Uzbekistan olive oil, China olive oil, Hong Kong olive oil, Macao olive oil, North Korea olive oil & Mongolia olive oil.
South Korea olive oil - Production, Exports, Imports, Seasons and HS Codes
The quantity of olive oil exported by South Korea in 2020 was 112 tonnes. In 2019 South Korea shipped 170 tonnes of olive oil. For the year 2019 alone, the market for South Korea olive oil (processed category) has increased, changing by 3.03 % compared to the year 2018. Between 2017 and 2019, olive oil's exports decreased by -53.42% bringing the country US$0.88m for the year 2019. South Korea's olive oil exports are categorised as:
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
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South Korea olive oil export values
In 2019, South Korea exported olive oil valued at 0.88m USD, an improvement of 12.68% from 2018's total olive oil export of 0.781m USD. The yearly increase in value of South Korea olive oil between 2017 to 2018 was -39.363%.
The yearly change in the volume of South Korea's olive oil exports between 2017 and 2019 was -53.42 percent when compared to a variation of 3.03% in the growth rate between 2018 and 2019.
South Korea's stake of the world's total olive oil's exports in 2019 was less than 1%. South Korea is ranked position 16 in world exports of olive oil.
Export markets for South Korea olive oil ( in '000$ )
South Korea's best performing destinations for olive oil are Italy, the Philippines, US, Kazakhstan and Indonesia.
Import/Export Trends
South Korea is a net importer of olive oil. The annual growth of South Korea olive oil in value between 2015 to 2019 was 17%, per year, while annual growth in quantity was 11%, per annum.
South Korea bought 19,335 tonnes of olive oil in 2019.