Price for Cotton; Garnetted Stock Waste in South Korea - 2022

Price for Cotton; Garnetted Stock Waste in South Korea (CIF) - 2022

The average cotton; garnetted stock waste import price stood at $654 per ton in 2022, declining by -45.8% against the previous year. Over the period under review, the import price, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2021 an increase of 141%. Over the period under review, average import prices attained the maximum at $1,805 per ton in 2016; however, from 2017 to 2022, 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 Pakistan ($2,089 per ton), while the price for Thailand ($202 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+13.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cotton; Garnetted Stock Waste in South Korea (FOB) - 2022

The average cotton; garnetted stock waste export price stood at $1,216 per ton in 2022, dropping by -55.6% against the previous year. Overall, the export price, however, recorded mild growth. The pace of growth was the most pronounced in 2017 an increase of 43% against the previous year. Over the period under review, the average export prices attained the maximum at $2,739 per ton in 2021, and then shrank dramatically in the following year.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to +27.1% per year.

Imports of Cotton; Garnetted Stock Waste in South Korea

In 2022, the amount of cotton; garnetted stock waste imported into South Korea surged to 45 tons, jumping by 200% compared with the previous year. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 654% against the previous year. As a result, imports attained the peak of 81 tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, cotton; garnetted stock waste imports soared to $29K in 2022. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 465%. As a result, imports reached the peak of $40K. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Cotton; Garnetted Stock Waste in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	1.8	27.4	6.0	15.5	105.0%
Pakistan	2.7	7.9	8.0	8.3	45.4%
Others	2.7	5.3	4.0	5.4	26.0%
Total	7.2	40.5	18.0	29.2	59.5%

Top Suppliers of Cotton; Garnetted Stock Waste to South Korea in 2022:

Indonesia (39.3 tons)
Pakistan (4.0 tons)

Exports of Cotton; Garnetted Stock Waste in South Korea

For the fourth consecutive year, South Korea recorded growth in shipments abroad of cotton; garnetted stock waste, which increased by 29% to 30 tons in 2022. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 383% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, cotton; garnetted stock waste exports reduced markedly to $36K in 2022. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 593% against the previous year. As a result, the exports reached the peak of $63K, and then declined dramatically in the following year.