Price for Mucilages and thickeners; agar-agar, whether or not modified, derived from vegetable products in South Korea - 2022

Contents:

1. Price for Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products in South Korea (FOB) - 2022
2. Price for Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products in South Korea (CIF) - 2022
3. Exports of Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products in South Korea
4. Imports of Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products in South Korea

Price for Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products in South Korea (FOB) - 2022

In December 2022, the average export price for mucilages and thickeners; agar-agar, whether or not modified, derived from vegetable productses amounted to $23,215 per ton, declining by -17.6% against the previous month. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in February 2022 when the average export price increased by 58% m-o-m. As a result, the export price reached the peak level of $31,949 per ton. From March 2022 to December 2022, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In December 2022, the country with the highest price was the United States ($92,587 per ton), while the average price for exports to China ($15,752 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products in South Korea (CIF) - 2022

In 2022, the average import price for mucilages and thickeners; agar-agar, whether or not modified, derived from vegetable productses amounted to $15,282 per ton, rising by 13% against the previous year. Overall, the import price, however, saw a mild descent. The import price peaked at $19,343 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($20,174 per ton), while the price for China stood at $14,404 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.1%).

Exports of Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products in South Korea

Exports of mucilages and thickeners; agar-agar, whether or not modified, derived from vegetable productses from South Korea stood at 557 tons in 2022, standing approx. at 2021. The total export volume increased at an average annual rate of +2.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of mucilages and thickeners; agar-agar, whether or not modified, derived from vegetable productses stood at $14M in 2022. In general, exports, however, recorded a mild contraction. The pace of growth was the most pronounced in 2021 when exports increased by 19%.

Top Export Markets for Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products from South Korea in 2022:

1. Japan (331.3 tons)
2. China (126.0 tons)
3. United States (70.8 tons)
4. Italy (12.0 tons)

Imports of Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products in South Korea

In 2022, supplies from abroad of mucilages and thickeners; agar-agar, whether or not modified, derived from vegetable productses increased by 38% to 417 tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +7.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of mucilages and thickeners; agar-agar, whether or not modified, derived from vegetable productses surged to $6.4M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +9.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Mucilages and Thickeners; Agar-Agar, Whether or Not Modified, Derived from Vegetable Products to South Korea in 2022:

1. China (376.3 tons)
2. Spain (30.7 tons)

Source: IndexBox Market Intelligence Platform