Price for Animal Products; Ossein and Bones Treated with Acid in South Korea - 2022

Price for Animal Products; Ossein and Bones Treated with Acid in South Korea (CIF) - 2022

The average import price for animal products; ossein and bones treated with acids stood at $3,085 per ton in 2022, declining by -6.8% against the previous year. In general, the import price, however, showed measured growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 143% against the previous year. As a result, import price reached the peak level of $5,927 per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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 Thailand ($60,000 per ton), while the price for India totaled $3,085 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+198.8%).

Imports of Animal Products; Ossein and Bones Treated with Acid in South Korea

For the fourth consecutive year, South Korea recorded growth in overseas purchases of animal products; ossein and bones treated with acids, which increased by 2.5% to 266 tons in 2022. Overall, imports showed significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 133% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of animal products; ossein and bones treated with acids contracted to $822K in 2022. Over the period under review, imports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 165% against the previous year.