Insects; Live, Bees Price in South Korea - 2022

Contents:

1. Insects; Live, Bees Price in South Korea (CIF) - 2022
2. Insects; Live, Bees Imports in South Korea

Insects; Live, Bees Price in South Korea (CIF) - 2022

The average insects; live, bees import price stood at $3.8 per unit in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price faced a abrupt setback. The pace of growth was the most pronounced in 2020 when the average import price increased by 17%. Over the period under review, average import prices hit record highs at $20 per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($6 per unit), while the price for Italy ($1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+1.5%), while the prices for the other major suppliers experienced a decline.

Insects; Live, Bees Imports in South Korea

In 2022, the amount of insects; live, beeses imported into South Korea stood at 4 units, stabilizing at the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The smallest decline of 99.9% was in 2021. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, insects; live, bees imports amounted to $15 in 2022. Overall, imports faced a deep contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 17% against the previous year. As a result, imports reached the peak of $28. From 2021 to 2022, the growth of imports failed to regain momentum.

Top Suppliers of Insects; Live, Bees to South Korea in 2022:

1. Turkey (1.0 units)
2. Belgium (1.0 units)
3. Netherlands (1.0 units)
4. Italy (1.0 units)

Source: IndexBox Market Intelligence Platform