Price for Article of Natural Cork in South Korea - 2022

Contents:

1. Price for Article of Natural Cork in South Korea (CIF) - 2022
2. Price for Article of Natural Cork in South Korea (FOB) - 2022
3. Imports of Article of Natural Cork in South Korea
4. Exports of Article of Natural Cork in South Korea

Price for Article of Natural Cork in South Korea (CIF) - 2022

The average article of natural cork import price stood at $27,234 per ton in December 2022, picking up by 55% against the previous month. Overall, the import price showed a notable increase. The pace of growth was the most pronounced in June 2022 an increase of 192% m-o-m. As a result, import price attained the peak level of $27,298 per ton. From July 2022 to December 2022, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Portugal ($31,744 per ton), while the price for China stood at $20,695 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+6.2%).

Price for Article of Natural Cork in South Korea (FOB) - 2022

The average article of natural cork export price stood at $8,054 per ton in 2022, reducing by -11.3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 63% against the previous year. The export price peaked at $11,557 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($17,511 per ton), while the average price for exports to Oman ($1,901 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 Taiwan (Chinese) (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Article of Natural Cork in South Korea

In 2022, the amount of articles of natural cork imported into South Korea contracted notably to 19 tons, which is down by -21.4% against 2021. In general, imports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 90% against the previous year. As a result, imports reached the peak of 24 tons, and then dropped sharply in the following year.

In value terms, article of natural cork imports fell to $495K in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +8.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 43% against the previous year. As a result, imports reached the peak of $582K, and then shrank in the following year.

Top Suppliers of Article of Natural Cork to South Korea in 2022:

1. China (12.6 tons)
2. Portugal (1.9 tons)
3. United Arab Emirates (1.4 tons)
4. Spain (0.8 tons)
5. Canada (0.5 tons)
6. Indonesia (0.3 tons)

Exports of Article of Natural Cork in South Korea

In 2022, approx. 62 tons of articles of natural cork were exported from South Korea; growing by 57% compared with the previous year's figure. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 372% against the previous year. As a result, the exports reached the peak of 70 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, article of natural cork exports skyrocketed to $503K in 2022. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 275%. As a result, the exports attained the peak of $646K. From 2021 to 2022, the growth of the exports failed to regain momentum.

Top Export Markets for Article of Natural Cork from South Korea in 2022:

1. Qatar (21.3 tons)
2. United Arab Emirates (11.7 tons)
3. Oman (9.7 tons)
4. Indonesia (4.8 tons)
5. Bahrain (3.8 tons)
6. Taiwan (Chinese) (1.4 tons)
7. Hong Kong SAR (1.4 tons)

Source: IndexBox Market Intelligence Platform