Nitrites; Nitrates Price in South Korea - 2022
Contents:
- Nitrites; Nitrates Price in South Korea (CIF) - 2022
- Nitrites; Nitrates Price in South Korea (FOB) - 2022
- Nitrites; Nitrates Imports in South Korea
- Nitrites; Nitrates Exports in South Korea
Nitrites; Nitrates Price in South Korea (CIF) - 2022
In 2022, the average nitrites; nitrates import price amounted to $1,296 per ton, growing by 43% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrites; nitrates import price increased by +51.3% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($6,914 per ton), while the price for Norway ($605 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Price in South Korea (FOB) - 2022
In 2022, the average nitrites; nitrates export price amounted to $2,503 per ton, rising by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2013 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices attained the peak figure at $2,751 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($6,600 per ton), while the average price for exports to Indonesia ($1,295 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 Uzbekistan (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.
Nitrites; Nitrates Imports in South Korea
In 2022, approx. 44K tons of nitrites; nitrateses were imported into South Korea; which is down by -12.2% against 2021. The total import volume increased at an average annual rate of +1.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. As a result, imports attained the peak of 50K tons, and then dropped in the following year.
In value terms, nitrites; nitrates imports soared to $57M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +17.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 31%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
| Import of Nitrites; Nitrates in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 15.0 | 17.2 | 25.0 | 24.9 | 18.4% |
| Chile | 6.5 | 5.5 | 6.0 | 11.1 | 19.5% |
| Israel | 1.6 | 1.6 | 2.0 | 4.6 | 42.2% |
| Spain | 3.8 | 2.0 | 2.8 | 4.1 | 2.6% |
| Germany | 1.9 | 1.8 | 1.9 | 2.0 | 1.7% |
| Norway | 1.1 | 1.1 | 1.5 | 1.9 | 20.0% |
| India | 1.0 | 0.6 | 1.0 | 1.5 | 14.5% |
| Others | 4.0 | 4.8 | 5.3 | 7.0 | 20.5% |
| Total | 34.8 | 34.7 | 45.6 | 57.1 | 17.9% |
Top Suppliers of Nitrites; Nitrates to South Korea in 2022:
- China (24.4K tons)
- Chile (6.9K tons)
- Israel (3.2K tons)
- Norway (3.1K tons)
- Spain (2.1K tons)
- Germany (1.5K tons)
- India (1.3K tons)
Nitrites; Nitrates Exports in South Korea
After two years of decline, overseas shipments of nitrites; nitrateses increased by 58% to 1.3K tons in 2022. Over the period under review, exports, however, saw a drastic downturn.
In value terms, nitrites; nitrates exports skyrocketed to $3.3M in 2022. In general, exports, however, recorded a abrupt curtailment.
| Export of Nitrites; Nitrates in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 3,462 | 1,855 | 902 | 1,549 | -23.5% |
| Germany | 1,008 | 529 | 206 | 586 | -16.5% |
| Japan | 0.2 | 7.1 | 159 | 543 | 1295.1% |
| Malaysia | 1.8 | 8.6 | 5.2 | 236 | 408.0% |
| Uzbekistan | 5.3 | 186 | 116 | 160 | 211.4% |
| China | 69.5 | 77.9 | 428 | 99.0 | 12.5% |
| Taiwan (Chinese) | 142 | 94.7 | 88.2 | 60.5 | -24.8% |
| Indonesia | 71.2 | 47.0 | 49.2 | 21.2 | -33.2% |
| Others | 34.3 | 36.3 | 89.3 | 58.2 | 19.3% |
| Total | 4,794 | 2,841 | 2,043 | 3,314 | -11.6% |
Top Export Markets for Nitrites; Nitrates from South Korea in 2022:
- Vietnam (646.3 tons)
- Japan (308.9 tons)
- Germany (180.2 tons)
- Malaysia (78.2 tons)
- Uzbekistan (29.8 tons)
- Taiwan (Chinese) (25.6 tons)
- Indonesia (16.4 tons)
- China (15.0 tons)
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