Non-Liquid Margarine Price in South Korea - 2022

Contents:

1. Non-Liquid Margarine Price in South Korea (CIF) - 2022
2. Non-Liquid Margarine Price in South Korea (FOB) - 2022
3. Non-Liquid Margarine Imports in South Korea
4. Non-Liquid Margarine Exports in South Korea

Non-Liquid Margarine Price in South Korea (CIF) - 2022

The average non-liquid margarine import price stood at $1,890 per ton in 2022, with an increase of 22% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2014 an increase of 37%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 the United States ($4,666 per ton), while the price for Indonesia ($1,418 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Non-Liquid Margarine Price in South Korea (FOB) - 2022

The average non-liquid margarine export price stood at $2,918 per ton in 2022, picking up by 35% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Russia ($3,521 per ton), while the average price for exports to the Philippines ($2,063 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 Russia (+6.0%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Liquid Margarine Imports in South Korea

In 2022, non-liquid margarine imports into South Korea surged to 6.6K tons, picking up by 90% on the previous year. Overall, total imports indicated a pronounced increase from 2019 to 2022: its volume increased at an average annual rate of +2.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.6% against 2020 indices.

In value terms, non-liquid margarine imports skyrocketed to $12M in 2022. In general, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Non-Liquid Margarine to South Korea in 2022:

1. United States (undefinedK tons)
2. Indonesia (3.8K tons)
3. Singapore (1.7K tons)
4. Malaysia (0.9K tons)
5. Germany (0.2K tons)

Non-Liquid Margarine Exports in South Korea

In 2022, the amount of non-liquid margarine exported from South Korea shrank significantly to 105 tons, waning by -43.2% on the previous year. Overall, exports showed a precipitous curtailment. The growth pace was the most rapid in 2021 when exports increased by 38%.

In value terms, non-liquid margarine exports declined significantly to $307K in 2022. In general, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2021 with an increase of 42% against the previous year.

Top Export Markets for Non-Liquid Margarine from South Korea in 2022:

1. China (55.4 tons)
2. Vietnam (36.3 tons)
3. Russia (12.0 tons)
4. Philippines (1.3 tons)

Source: IndexBox Market Intelligence Platform