Price for Cumin Seeds, Crushed or Ground in South Korea - 2022

Contents:

1. Price for Cumin Seeds, Crushed or Ground in South Korea (CIF) - 2022
2. Price for Cumin Seeds, Crushed or Ground in South Korea (FOB) - 2022
3. Imports of Cumin Seeds, Crushed or Ground in South Korea
4. Exports of Cumin Seeds, Crushed or Ground in South Korea

Price for Cumin Seeds, Crushed or Ground in South Korea (CIF) - 2022

The average import price for cumin seeds, crushed or ground stood at $4,557 per ton in 2022, with a decrease of -14.3% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cumin seeds, crushed or ground import price increased by +5.1% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 47% against the previous year. As a result, import price reached the peak level of $6,006 per ton. From 2018 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($44,576 per ton), while the price for the United Arab Emirates ($2,237 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cumin Seeds, Crushed or Ground in South Korea (FOB) - 2022

In 2022, the average export price for cumin seeds, crushed or ground amounted to $836 per ton, waning by -70.3% against the previous year. Over the period under review, the export price showed a abrupt slump. The pace of growth was the most pronounced in 2019 an increase of 18%. The export price peaked at $6,002 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the Netherlands amounted to +3.4% per year.

Imports of Cumin Seeds, Crushed or Ground in South Korea

In 2022, approx. 58 tons of cumin seeds, crushed or ground were imported into South Korea; with an increase of 45% against 2021. Over the period under review, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 141% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, cumin seeds, crushed or ground imports surged to $265K in 2022. In general, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 107% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Top Suppliers of Cumin Seeds, Crushed or Ground to South Korea in 2022:

1. India (53.3 tons)
2. Bangladesh (2.4 tons)
3. United Arab Emirates (1.3 tons)
4. United States (1.0 tons)

Exports of Cumin Seeds, Crushed or Ground in South Korea

For the fourth consecutive year, South Korea recorded growth in shipments abroad of cumin seeds, crushed or ground, which increased by 365% to 1 tons in 2022. Overall, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cumin seeds, crushed or ground exports skyrocketed to $836 in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +24.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +90.4% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cumin Seeds, Crushed or Ground from South Korea in 2022:

1. Mexico (1.0 tons)

Source: IndexBox Market Intelligence Platform