Price for Cereals; Maize (Corn), Other than Seed in South Korea - 2022
Contents:
- Price for Cereals; Maize (Corn), Other than Seed in South Korea (CIF) - 2022
- Price for Cereals; Maize (Corn), Other than Seed in South Korea (FOB) - 2022
- Imports of Cereals; Maize (Corn), Other than Seed in South Korea
- Exports of Cereals; Maize (Corn), Other than Seed in South Korea
Price for Cereals; Maize (Corn), Other than Seed in South Korea (CIF) - 2022
The average import price for cereals; maize (corn), other than seeds stood at $362 per ton in 2022, jumping by 31% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for cereals; maize (corn), other than seeds increased by +78.2% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 36% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Romania ($397 per ton) and the United States ($393 per ton), while the price for Brazil ($339 per ton) and Argentina ($355 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Other than Seed in South Korea (FOB) - 2022
The average export price for cereals; maize (corn), other than seeds stood at $803 per ton in 2022, reducing by -55.6% against the previous year. Overall, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2016 an increase of 34% against the previous year. Over the period under review, the average export prices reached the maximum at $2,602 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($917 per ton), while the average price for exports to Myanmar ($263 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-9.7%), while the prices for the other major destinations experienced a decline.
Imports of Cereals; Maize (Corn), Other than Seed in South Korea
In 2022, imports of cereals; maize (corn), other than seeds into South Korea was estimated at 12M tons, approximately mirroring the previous year. The total import volume increased at an average annual rate of +1.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 2.7% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, imports of cereals; maize (corn), other than seeds skyrocketed to $4.3B in 2022. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 36%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.
| Import of Cereals; Maize (Corn), Other than Seed in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Argentina | 598 | 538 | 1,283 | 1,899 | 47.0% |
| Brazil | 746 | 354 | 419 | 696 | -2.3% |
| United States | 578 | 638 | 840 | 586 | 0.5% |
| Ukraine | 80.6 | 400 | 59.1 | 505 | 84.4% |
| Romania | 0.8 | 48.3 | 12.8 | 142 | 462.0% |
| Serbia | 172 | 131 | 137 | 104 | -15.4% |
| Russia | 7.7 | 53.6 | 153 | 83.1 | 121.0% |
| Paraguay | 72.1 | 69.6 | 39.1 | 65.6 | -3.1% |
| Bulgaria | 70.1 | 34.5 | 117 | 48.2 | -11.7% |
| Others | 22.9 | 99.5 | 159 | 141 | 83.3% |
| Total | 2,348 | 2,366 | 3,218 | 4,270 | 22.1% |
Top Suppliers of Cereals; Maize (Corn), Other than Seed to South Korea in 2022:
- Argentina (5.3M tons)
- Brazil (2.1M tons)
- United States (1.5M tons)
- Ukraine (1.4M tons)
- Romania (0.4M tons)
- Serbia (0.3M tons)
- Paraguay (0.2M tons)
- Russia (0.2M tons)
- Bulgaria (0.1M tons)
Exports of Cereals; Maize (Corn), Other than Seed in South Korea
In 2022, approx. 1.4K tons of cereals; maize (corn), other than seeds were exported from South Korea; increasing by 3,422% against the year before. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of cereals; maize (corn), other than seeds skyrocketed to $1.1M in 2022. Over the period under review, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Cereals; Maize (Corn), Other than Seed in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 6.4 | 4.7 | 0.6 | 1,023 | 442.7% |
| Myanmar | N/A | N/A | N/A | 6.6 | 0% |
| Philippines | 44.6 | 0.2 | N/A | N/A | -99.6% |
| Others | 5.8 | 21.5 | 69.3 | 65.1 | 123.9% |
| Total | 56.8 | 26.4 | 70.0 | 1,095 | 168.1% |
Top Export Markets for Cereals; Maize (Corn), Other than Seed from South Korea in 2022:
- Vietnam (1308.6 tons)
- Myanmar (25.2 tons)
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