Price for Crustacean Preparations; Lobster, Prepared or Preserved in South Korea - 2022
Contents:
- Price for Crustacean Preparations; Lobster, Prepared or Preserved in South Korea (CIF) - 2022
- Price for Crustacean Preparations; Lobster, Prepared or Preserved in South Korea (FOB) - 2022
- Imports of Crustacean Preparations; Lobster, Prepared or Preserved in South Korea
- Exports of Crustacean Preparations; Lobster, Prepared or Preserved in South Korea
Price for Crustacean Preparations; Lobster, Prepared or Preserved in South Korea (CIF) - 2022
In 2022, the average import price for crustacean preparations; lobster, prepared or preserveds amounted to $4,051 per ton, which is down by -11.2% against the previous year. Overall, the import price faced a precipitous decrease. The most prominent rate of growth was recorded in 2014 an increase of 39%. Over the period under review, average import prices attained the peak figure at $48,878 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
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 ($61,290 per ton), while the price for Canada totaled $4,021 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).
Price for Crustacean Preparations; Lobster, Prepared or Preserved in South Korea (FOB) - 2022
In 2022, the average export price for crustacean preparations; lobster, prepared or preserveds amounted to $24,072 per ton, surging by 32% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 47% against the previous year. As a result, the export price reached the peak level of $27,511 per ton. From 2020 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($24,102 per ton), while the average price for exports to the United States amounted to $3,000 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.5%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Crustacean Preparations; Lobster, Prepared or Preserved in South Korea
After three years of growth, purchases abroad of crustacean preparations; lobster, prepared or preserveds decreased by -17.6% to 253 tons in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +13.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.0% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 66%. As a result, imports attained the peak of 308 tons, and then contracted significantly in the following year.
In value terms, imports of crustacean preparations; lobster, prepared or preserveds dropped remarkably to $1M in 2022. In general, imports showed a dramatic setback. The smallest decline of -0.2% was in 2021.
| Import of Crustacean Preparations; Lobster, Prepared or Preserved in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 2.2 | 1.3 | 1.4 | 1.0 | -23.1% |
| Others | 0.1 | 0.1 | N/A | N/A | 0.0% |
| Total | 2.3 | 1.4 | 1.4 | 1.0 | -24.2% |
Top Suppliers of Crustacean Preparations; Lobster, Prepared or Preserved to South Korea in 2022:
- Canada (253.3 tons)
Exports of Crustacean Preparations; Lobster, Prepared or Preserved in South Korea
In 2022, exports of crustacean preparations; lobster, prepared or preserveds from South Korea declined sharply to 698 kg, shrinking by -42% on 2021 figures. In general, exports showed a significant decline. The smallest decline of -32.5% was in 2021.
In value terms, exports of crustacean preparations; lobster, prepared or preserveds declined notably to $17K in 2022. Overall, exports recorded a sharp decrease.
| Export of Crustacean Preparations; Lobster, Prepared or Preserved in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 41.3 | 35.7 | 12.6 | 16.8 | -25.9% |
| United States | N/A | N/A | 5.7 | N/A | 0% |
| Guam | 6.9 | N/A | N/A | N/A | 0% |
| Taiwan (Chinese) | N/A | 4.0 | 3.4 | N/A | -15.0% |
| Northern Mariana Islands | 2.7 | N/A | N/A | N/A | 0% |
| Canada | 44.5 | N/A | N/A | N/A | 0% |
| Others | 0.3 | N/A | 0.3 | N/A | 0.0% |
| Total | 95.7 | 39.8 | 22.0 | 16.8 | -44.0% |
Top Export Markets for Crustacean Preparations; Lobster, Prepared or Preserved from South Korea in 2022:
- Hong Kong SAR (697.0 kg)
- United States (1.0 kg)
544
This report provides an in-depth analysis of the market for prepared or preserved crab meat in Republic of Korea.
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This report provides an in-depth analysis of the global market for prepared or preserved crab meat.
544
This report provides an in-depth analysis of the market for prepared or preserved crab meat in Republic of Korea.
512
This report provides an in-depth analysis of the global market for prepared or preserved crab meat.
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