Ester Gums Price in South Korea - 2022

Contents:

1. Ester Gums Price in South Korea (CIF) - 2022
2. Ester Gums Price in South Korea (FOB) - 2022
3. Ester Gums Imports in South Korea
4. Ester Gums Exports in South Korea

Ester Gums Price in South Korea (CIF) - 2022

The average ester gums import price stood at $2,764 per ton in December 2022, waning by -3.2% against the previous month. Overall, the import price saw a mild decrease. The pace of growth was the most pronounced in October 2022 when the average import price increased by 42% month-to-month. As a result, import price attained the peak level of $3,933 per ton. From November 2022 to December 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($6,467 per ton), while the price for New Zealand ($1,899 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by France (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Ester Gums Price in South Korea (FOB) - 2022

The average ester gums export price stood at $3,870 per ton in 2022, increasing by 1.7% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ester gums export price decreased by -13.1% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices hit record highs at $4,456 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($7,333 per ton), while the average price for exports to Panama ($2,725 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 Panama (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ester Gums Imports in South Korea

In 2022, approx. 2.7K tons of ester gumses were imported into South Korea; growing by 2.2% compared with the year before. The total import volume increased at an average annual rate of +1.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 8.3%. As a result, imports reached the peak of 2.7K tons; afterwards, it flattened through to 2022.

In value terms, ester gums imports reduced to $6.6M in 2022. The total import value increased at an average annual rate of +7.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of $7.2M, and then shrank in the following year.

Top Suppliers of Ester Gums to South Korea in 2022:

1. China (843.9 tons)
2. Vietnam (542.7 tons)
3. United States (353.6 tons)
4. New Zealand (329.7 tons)
5. France (201.4 tons)
6. Japan (78.5 tons)
7. Finland (39.6 tons)

Ester Gums Exports in South Korea

In 2022, the amount of ester gumses exported from South Korea shrank dramatically to 39 tons, with a decrease of -45.8% on 2021 figures. In general, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 1,044% against the previous year. As a result, the exports attained the peak of 72 tons, and then contracted significantly in the following year.

In value terms, ester gums exports declined significantly to $150K in 2022. Over the period under review, exports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 877% against the previous year. As a result, the exports reached the peak of $273K, and then dropped notably in the following year.

Top Export Markets for Ester Gums from South Korea in 2022:

1. Panama (21.3 tons)
2. United States (10.4 tons)
3. Russia (3.9 tons)
4. Egypt (1.4 tons)
5. Thailand (0.9 tons)

Source: IndexBox Market Intelligence Platform