Price for Cereals; Oats, Other than Seed in South Korea - 2022
Contents:
- Price for Cereals; Oats, Other than Seed in South Korea (CIF) - 2022
- Price for Cereals; Oats, Other than Seed in South Korea (FOB) - 2022
- Imports of Cereals; Oats, Other than Seed in South Korea
- Exports of Cereals; Oats, Other than Seed in South Korea
Price for Cereals; Oats, Other than Seed in South Korea (CIF) - 2022
In December 2022, the average import price for cereals; oats, other than seeds amounted to $490 per ton, picking up by 14% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +3.0%. The pace of growth appeared the most rapid in February 2022 when the average import price increased by 22% month-to-month. Over the period under review, average import prices attained the maximum at $545 per ton in June 2022; however, from July 2022 to December 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($728 per ton), while the price for Russia ($265 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Canada (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Cereals; Oats, Other than Seed in South Korea (FOB) - 2022
The average export price for cereals; oats, other than seeds stood at $1,796 per ton in 2022, stabilizing at the previous year. Over the period under review, the export price, however, showed buoyant growth. The most prominent rate of growth was recorded in 2015 an increase of 126%. The export price peaked at $2,411 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($3,020 per ton), while the average price for exports to Australia ($1,321 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 Vietnam (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereals; Oats, Other than Seed in South Korea
In 2022, supplies from abroad of cereals; oats, other than seeds decreased by -6.9% to 23K tons, falling for the second year in a row after two years of growth. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 6.8%. As a result, imports reached the peak of 25K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, cereals; oats, other than seed imports skyrocketed to $11M in 2022. The total import value increased at an average annual rate of +12.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Cereals; Oats, Other than Seed in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 5.8 | 7.0 | 7.3 | 6.0 | 1.1% |
| Australia | 1.0 | 0.2 | 0.6 | 4.0 | 58.7% |
| Russia | 0.5 | 0.3 | 0.5 | 0.6 | 6.3% |
| Others | 0.4 | 0.2 | 0.4 | 0.3 | -9.1% |
| Total | 7.7 | 7.7 | 8.8 | 11.0 | 12.6% |
Top Suppliers of Cereals; Oats, Other than Seed to South Korea in 2022:
- Canada (11.2K tons)
- Australia (10.2K tons)
- Russia (1.8K tons)
Exports of Cereals; Oats, Other than Seed in South Korea
In 2022, exports of cereals; oats, other than seeds from South Korea rose remarkably to 83 tons, picking up by 11% on 2021 figures. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 114%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, cereals; oats, other than seed exports rose sharply to $148K in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 78% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
| Export of Cereals; Oats, Other than Seed in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 33.8 | 49.6 | 111 | 127 | 55.5% |
| Australia | 2.7 | 5.2 | 6.4 | 6.6 | 34.7% |
| Vietnam | 2.0 | 5.6 | 9.0 | 4.4 | 30.1% |
| New Zealand | N/A | 1.2 | 2.9 | 3.5 | 70.8% |
| Canada | 6.2 | 1.8 | 1.9 | 2.6 | -25.1% |
| Others | 6.1 | 12.6 | 3.6 | 4.3 | -11.0% |
| Total | 50.7 | 76.0 | 135 | 148 | 42.9% |
Top Export Markets for Cereals; Oats, Other than Seed from South Korea in 2022:
- United States (72.0 tons)
- Australia (5.0 tons)
- Vietnam (1.5 tons)
- New Zealand (1.5 tons)
- Canada (1.1 tons)
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