Price for Fish Meal; Fit for Human Consumption in South Korea - 2022

Contents:

1. Price for Fish Meal; Fit for Human Consumption in South Korea (CIF) - 2022
2. Price for Fish Meal; Fit for Human Consumption in South Korea (FOB) - 2022
3. Imports of Fish Meal; Fit for Human Consumption in South Korea
4. Exports of Fish Meal; Fit for Human Consumption in South Korea

Price for Fish Meal; Fit for Human Consumption in South Korea (CIF) - 2022

The average import price for fish meal; fit for human consumptia stood at $8,915 per ton in 2022, waning by -20.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 73% against the previous year. Over the period under review, average import prices attained the peak figure at $29,386 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($20,034 per ton), while the price for Russia ($1,972 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+31.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Fish Meal; Fit for Human Consumption in South Korea (FOB) - 2022

In 2022, the average export price for fish meal; fit for human consumptia amounted to $13,967 per ton, dropping by -41.7% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 147%. As a result, the export price attained the peak level of $37,882 per ton. From 2014 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 Australia ($35,348 per ton), while the average price for exports to the United Arab Emirates ($12,725 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 New Zealand (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Meal; Fit for Human Consumption in South Korea

In 2022, overseas purchases of fish meal; fit for human consumptia decreased by -18.5% to 42 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 388% against the previous year. As a result, imports reached the peak of 52 tons, and then shrank sharply in the following year.

In value terms, imports of fish meal; fit for human consumptia dropped sharply to $379K in 2022. Overall, imports, however, saw a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 243% against the previous year. As a result, imports attained the peak of $586K, and then shrank markedly in the following year.

Top Suppliers of Fish Meal; Fit for Human Consumption to South Korea in 2022:

1. Norway (19.5 tons)
2. New Zealand (12.4 tons)
3. Russia (8.5 tons)
4. United States (1.4 tons)
5. Japan (0.8 tons)

Exports of Fish Meal; Fit for Human Consumption in South Korea

After two years of decline, shipments abroad of fish meal; fit for human consumptia increased by 53% to 2.5 tons in 2022. Over the period under review, exports, however, continue to indicate a abrupt contraction.

In value terms, exports of fish meal; fit for human consumptia dropped to $36K in 2022. The total export value increased at an average annual rate of +1.2% from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 27% against the previous year. As a result, the exports attained the peak of $40K, and then dropped in the following year.

Top Export Markets for Fish Meal; Fit for Human Consumption from South Korea in 2022:

1. United Arab Emirates (1908.0 kg)
2. United States (574.0 kg)
3. Australia (66.0 kg)

Source: IndexBox Market Intelligence Platform