Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea - 2022
Contents:
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea (CIF) - 2022
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea (FOB) - 2022
- Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea
- Exports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea (CIF) - 2022
The average import price for fats and oils and their fractions; of fish, (excluding liver-oils)s stood at $1,903 per ton in 2022, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 58%. As a result, import price attained the peak level of $2,393 per ton. From 2014 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($12,333 per ton), while the price for Chile ($1,363 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea (FOB) - 2022
In 2022, the average export price for fats and oils and their fractions; of fish, (excluding liver-oils)s amounted to $1,455 per ton, waning by -25.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 22% against the previous year. The export price peaked at $2,029 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($21,160 per ton), while the average price for exports to Indonesia ($1,320 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 (+30.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea
In 2022, the amount of fats and oils and their fractions; of fish, (excluding liver-oils)s imported into South Korea skyrocketed to 13K tons, jumping by 80% compared with the year before. In general, imports, however, showed a drastic downturn.
In value terms, imports of fats and oils and their fractions; of fish, (excluding liver-oils)s surged to $25M in 2022. Overall, imports, however, saw a deep reduction.
| Import of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | N/A | N/A | N/A | 9.6 | 0% |
| Peru | 5.5 | 3.3 | 5.7 | 4.5 | -6.5% |
| China | 0.4 | 0.2 | 1.0 | 3.0 | 95.7% |
| Australia | 0.4 | 0.2 | 0.3 | 2.3 | 79.2% |
| United States | 24.1 | 0.3 | 1.3 | 2.2 | -55.0% |
| Russia | 0.1 | 0.5 | 0.5 | 1.0 | 115.4% |
| Japan | 1.2 | 0.7 | 0.4 | 0.8 | -12.6% |
| Yemen | N/A | N/A | 0.8 | 0.7 | -12.5% |
| Chile | 1.9 | 3.3 | 2.6 | 0.4 | -40.5% |
| Others | 3.3 | 4.8 | 1.6 | 1.0 | -32.8% |
| Total | 36.9 | 13.3 | 14.0 | 25.4 | -11.7% |
Top Suppliers of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) to South Korea in 2022:
- Vietnam (6.6K tons)
- Australia (1.5K tons)
- Peru (1.3K tons)
- United States (1.2K tons)
- China (0.7K tons)
- Russia (0.7K tons)
- Japan (0.4K tons)
- Yemen (0.4K tons)
- Chile (0.3K tons)
Exports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea
In 2022, shipments abroad of fats and oils and their fractions; of fish, (excluding liver-oils)s decreased by -41% to 205 tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a sharp reduction. The growth pace was the most rapid in 2020 when exports increased by 109% against the previous year. As a result, the exports reached the peak of 1.2K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of fats and oils and their fractions; of fish, (excluding liver-oils)s contracted dramatically to $299K in 2022. Overall, exports saw a sharp slump. The most prominent rate of growth was recorded in 2020 when exports increased by 82%. As a result, the exports attained the peak of $1.9M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 144 | 1,523 | 364 | 233 | 17.4% |
| Thailand | 138 | 202 | 82.4 | 54.7 | -26.5% |
| Vietnam | 613 | 4.5 | 3.3 | 7.0 | -77.5% |
| Japan | 145 | 21.8 | 30.7 | N/A | -54.0% |
| Others | 13.8 | 169 | 200 | 3.9 | -34.4% |
| Total | 1,054 | 1,921 | 680 | 299 | -34.3% |
Top Export Markets for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) from South Korea in 2022:
- Indonesia (176.5 tons)
- Thailand (28.4 tons)
- Vietnam (0.3 tons)
388
This report provides an in-depth analysis of the market for fish fat and oil in Republic of Korea.
741
This report provides an in-depth analysis of the global market for fish fat and oil.
388
This report provides an in-depth analysis of the market for fish fat and oil in Republic of Korea.
741
This report provides an in-depth analysis of the global market for fish fat and oil.
591
Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
591
Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
