Price for Flour, Meal, and Flakes of Potatoes in South Korea - 2022

Contents:

1. Price for Flour, Meal, and Flakes of Potatoes in South Korea (CIF) - 2022
2. Price for Flour, Meal, and Flakes of Potatoes in South Korea (FOB) - 2022
3. Imports of Flour, Meal, and Flakes of Potatoes in South Korea
4. Exports of Flour, Meal, and Flakes of Potatoes in South Korea

Price for Flour, Meal, and Flakes of Potatoes in South Korea (CIF) - 2022

In 2022, the average import price for flour, meal, and flakes of potatoeses amounted to $2,443 per ton, growing by 5.5% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 flour, meal, and flakes of potatoeses increased by +35.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 28% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($3,309 per ton), while the price for the Netherlands ($1,277 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Flour, Meal, and Flakes of Potatoes in South Korea (FOB) - 2022

In 2022, the average export price for flour, meal, and flakes of potatoeses amounted to $1,818 per ton, falling by -15% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 57%. The export price peaked at $3,147 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($5,139 per ton), while the average price for exports to Poland ($1,445 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 Paraguay (+95.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flour, Meal, and Flakes of Potatoes in South Korea

In 2022, supplies from abroad of flour, meal, and flakes of potatoeses decreased by -3.3% to 4.9K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +18.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 49%.

In value terms, imports of flour, meal, and flakes of potatoeses rose modestly to $12M in 2022. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 50%. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Flour, Meal, and Flakes of Potatoes to South Korea in 2022:

1. United States (3220.5 tons)
2. Poland (814.1 tons)
3. Netherlands (340.1 tons)
4. Germany (186.5 tons)
5. China (137.8 tons)
6. Denmark (108.9 tons)

Exports of Flour, Meal, and Flakes of Potatoes in South Korea

For the fourth consecutive year, South Korea recorded growth in shipments abroad of flour, meal, and flakes of potatoeses, which increased by 19% to 133 tons in 2022. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +15.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.3% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of flour, meal, and flakes of potatoeses reached $241K in 2022. Overall, exports, however, showed a noticeable setback.

Top Export Markets for Flour, Meal, and Flakes of Potatoes from South Korea in 2022:

1. Poland (66.0 tons)
2. China (50.0 tons)
3. United States (6.4 tons)
4. Vietnam (3.6 tons)
5. Australia (2.4 tons)
6. Canada (0.4 tons)

Source: IndexBox Market Intelligence Platform