Frozen Tilapia Fillets Price in South Korea - 2022
Contents:
- Frozen Tilapia Fillets Price in South Korea (CIF) - 2022
- Frozen Tilapia Fillets Price in South Korea (FOB) - 2022
- Frozen Tilapia Fillets Imports in South Korea
- Frozen Tilapia Fillets Exports in South Korea
Frozen Tilapia Fillets Price in South Korea (CIF) - 2022
The average frozen tilapia fillets import price stood at $9,841 per ton in December 2022, increasing by 9.8% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 when the average import price increased by 29% month-to-month. As a result, import price attained the peak level of $10,718 per ton. From March 2022 to December 2022, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the country with the highest price was Indonesia ($13,121 per ton), while the price for Taiwan (Chinese) ($9,753 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 Indonesia (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Frozen Tilapia Fillets Price in South Korea (FOB) - 2022
The average frozen tilapia fillets export price stood at $7,530 per ton in 2022, with an increase of 653% against the previous year. In general, the export price showed a notable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Taiwan (Chinese).
From 2012 to 2022, the rate of growth in terms of prices for Taiwan (Chinese) amounted to +7.7% per year.
Frozen Tilapia Fillets Imports in South Korea
In 2022, purchases abroad of frozen tilapia fillets increased by 1.2% to 879 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a abrupt setback.
In value terms, frozen tilapia fillets imports contracted modestly to $3.2M in 2022. Overall, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2021 when imports increased by 2.2%.
| Import of Frozen Tilapia Fillets in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 3,844 | 1,771 | 1,960 | 2,079 | -18.5% |
| Indonesia | 449 | 608 | 630 | 532 | 5.8% |
| United States | 519 | 656 | 466 | 460 | -3.9% |
| Vietnam | 140 | 138 | 53.2 | 92.3 | -13.0% |
| China | 29.6 | 14.2 | 65.9 | 55.7 | 23.5% |
| Others | 8.3 | 5.7 | 88.5 | 9.0 | 2.7% |
| Total | 4,990 | 3,193 | 3,263 | 3,228 | -13.5% |
Top Suppliers of Frozen Tilapia Fillets to South Korea in 2022:
- Taiwan (Chinese) (412.7 tons)
- United States (331.4 tons)
- Indonesia (85.0 tons)
- Vietnam (23.6 tons)
- China (21.4 tons)
Frozen Tilapia Fillets Exports in South Korea
After three years of growth, shipments abroad of frozen tilapia fillets decreased by -82% to 4.2 tons in 2022. Over the period under review, exports recorded a precipitous setback. The pace of growth appeared the most rapid in 2020 when exports increased by 65%.
In value terms, frozen tilapia fillets exports soared to $32K in 2022. In general, exports saw a abrupt contraction.
| Export of Frozen Tilapia Fillets in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 21.4 | 5.3 | 4.1 | 31.6 | 13.9% |
| Norway | 16.4 | N/A | N/A | N/A | 0% |
| Colombia | N/A | 20.4 | 19.3 | N/A | -5.4% |
| Rwanda | N/A | 14.1 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 37.8 | 39.8 | 23.3 | 31.6 | -5.8% |
Top Export Markets for Frozen Tilapia Fillets from South Korea in 2022:
- Taiwan (Chinese) (4.2 tons)
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