Republic of Korea - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMaize Oil Price in South Korea - 2022
Contents:
- Maize Oil Price in South Korea (FOB) - 2022
- Maize Oil Price in South Korea (CIF) - 2022
- Maize Oil Exports in South Korea
- Maize Oil Imports in South Korea
Maize Oil Price in South Korea (FOB) - 2022
The average maize oil export price stood at $1,947 per ton in December 2022, with an increase of 2.7% against the previous month. Over the period under review, export price indicated moderate growth from December 2021 to December 2022: its price increased at an average monthly rate of +3.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, maize oil export price decreased by -15.8% against July 2022 indices. The most prominent rate of growth was recorded in April 2022 an increase of 17% against the previous month. Over the period under review, the average export prices attained the maximum at $2,313 per ton in July 2022; however, from August 2022 to December 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In December 2022, the countries with the highest prices were Indonesia ($2,124 per ton) and Thailand ($2,089 per ton), while the average price for exports to Singapore ($1,837 per ton) and Malaysia ($1,863 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.
Maize Oil Price in South Korea (CIF) - 2022
In 2022, the average maize oil import price amounted to $2,311 per ton, rising by 64% against the previous year. Overall, the import price recorded a resilient increase. The growth pace was the most rapid in 2013 an increase of 133% against the previous year. As a result, import price attained the peak level of $2,578 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($8,575 per ton), while the price for Japan ($1,739 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+37.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Maize Oil Exports in South Korea
Maize oil exports from South Korea dropped notably to 6K tons in 2022, waning by -57.3% compared with 2021 figures. Over the period under review, exports continue to indicate a precipitous decrease. The smallest decline of -11.3% was in 2021.
In value terms, maize oil exports declined remarkably to $11M in 2022. In general, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of 15% against the previous year. As a result, the exports reached the peak of $19M, and then fell markedly in the following year.
| Export of Maize Oil in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 4.9 | 2.7 | 5.7 | 5.2 | 2.0% |
| Singapore | 1.7 | 0.8 | 1.3 | 1.4 | -6.3% |
| Qatar | 1.8 | 3.9 | 7.8 | 1.2 | -12.6% |
| Hong Kong SAR | 1.9 | 2.2 | 0.9 | 1.0 | -19.3% |
| Indonesia | 0.6 | 0.7 | 1.2 | 0.9 | 14.5% |
| Thailand | 0.1 | N/A | 0.3 | 0.8 | 100.0% |
| Philippines | 1.3 | 0.8 | 1.1 | 0.2 | -46.4% |
| United Arab Emirates | 2.4 | 1.9 | N/A | N/A | -20.8% |
| Oman | 2.0 | 2.5 | N/A | N/A | 25.0% |
| Others | 0.9 | 0.7 | 0.5 | 0.4 | -23.7% |
| Total | 17.5 | 16.2 | 18.7 | 11.1 | -14.1% |
Top Export Markets for Maize Oil from South Korea in 2022:
- Malaysia (2734.0 tons)
- Qatar (1105.3 tons)
- Singapore (740.0 tons)
- Hong Kong SAR (473.5 tons)
- Indonesia (422.2 tons)
- Thailand (314.7 tons)
- Philippines (66.8 tons)
Maize Oil Imports in South Korea
Maize oil imports into South Korea contracted significantly to 1K tons in 2022, which is down by -85.4% compared with the previous year's figure. Overall, imports showed a sharp curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 78% against the previous year. As a result, imports reached the peak of 7K tons, and then dropped notably in the following year.
In value terms, maize oil imports declined sharply to $2.4M in 2022. Over the period under review, imports showed a dramatic descent. The pace of growth was the most pronounced in 2021 when imports increased by 149% against the previous year. As a result, imports reached the peak of $9.9M, and then reduced dramatically in the following year.
| Import of Maize Oil in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 1.1 | 1.1 | 1.9 | 1.5 | 10.9% |
| Japan | 1.6 | 1.4 | 2.2 | 0.6 | -27.9% |
| United States | N/A | 0.1 | 0.1 | 0.1 | 0.0% |
| China | N/A | N/A | N/A | 0.1 | 0% |
| Brazil | 2.2 | 1.3 | 5.6 | N/A | 59.5% |
| Others | N/A | 0.1 | N/A | N/A | 0% |
| Total | 5.0 | 4.0 | 9.9 | 2.4 | -21.7% |
Top Suppliers of Maize Oil to South Korea in 2022:
- Spain (610.1 tons)
- Japan (371.6 tons)
- China (17.6 tons)
- United States (16.0 tons)
This report provides an in-depth analysis of the maize oil market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 60 - Oil of Maize
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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