Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in South Korea - 2022
Contents:
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in South Korea (CIF) - 2022
- Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in South Korea
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in South Korea (CIF) - 2022
The average import price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) stood at $8,774 per ton in December 2022, reducing by -10.4% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 an increase of 17% m-o-m. The import price peaked at $9,787 per ton in November 2022, and then dropped in the following month.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was New Zealand ($21,433 per ton), while the price for Australia totaled $7,251 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+3.0%).
Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in South Korea
In 2022, approx. 11K tons of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) were imported into South Korea; picking up by 31% on the year before. In general, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +15.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.9% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) surged to $97M in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +22.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 46.2 | 50.7 | 54.5 | 80.5 | 20.3% |
| New Zealand | 5.6 | 7.3 | 14.3 | 16.5 | 43.4% |
| Others | 0.4 | 0.4 | 0.5 | N/A | 11.8% |
| Total | 52.3 | 58.4 | 69.3 | 97.0 | 22.9% |
Top Suppliers of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) to South Korea in 2022:
- Australia (9.5K tons)
- New Zealand (1.2K tons)
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