Price for Rattans Used Primarily for Plaiting in South Korea - 2022

Contents:

1. Price for Rattans Used Primarily for Plaiting in South Korea (CIF) - 2022
2. Price for Rattans Used Primarily for Plaiting in South Korea (FOB) - 2022
3. Imports of Rattans Used Primarily for Plaiting in South Korea
4. Exports of Rattans Used Primarily for Plaiting in South Korea

Price for Rattans Used Primarily for Plaiting in South Korea (CIF) - 2022

The average import price for rattans used primarily for plaitings stood at $9,434 per ton in 2022, picking up by 5.2% against the previous year. Overall, the import price saw a noticeable expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 183%. Over the period under review, average import prices hit record highs at $10,129 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($9,832 per ton), while the price for Vietnam totaled $3,191 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Rattans Used Primarily for Plaiting in South Korea (FOB) - 2022

The average export price for rattans used primarily for plaitings stood at $588 per ton in 2022, reducing by -95% against the previous year. In general, the export price continues to indicate a sharp descent. The pace of growth was the most pronounced in 2016 when the average export price increased by 136% against the previous year. The export price peaked at $21,125 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2013 to 2022, the rate of growth in terms of prices for Vietnam amounted to +13.8% per year.

Imports of Rattans Used Primarily for Plaiting in South Korea

In 2022, the amount of rattans used primarily for plaitings imported into South Korea was estimated at 31 tons, growing by 8.6% against the previous year's figure. Over the period under review, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 119%. As a result, imports reached the peak of 40 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, rattans used primarily for plaiting imports expanded markedly to $293K in 2022. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 246% against the previous year. As a result, imports reached the peak of $406K. From 2021 to 2022, the growth of imports failed to regain momentum.

Top Suppliers of Rattans Used Primarily for Plaiting to South Korea in 2022:

1. China (29.2 tons)
2. Vietnam (1.9 tons)

Exports of Rattans Used Primarily for Plaiting in South Korea

In 2022, shipments abroad of rattans used primarily for plaitings decreased by -97% to 17 kg for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a precipitous shrinkage. The growth pace was the most rapid in 2021 when exports increased by 17%. As a result, the exports reached the peak of 560 kg, and then reduced notably in the following year.

In value terms, rattans used primarily for plaiting exports reduced notably to $10 in 2022. Overall, exports recorded a sharp curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 20% against the previous year. As a result, the exports attained the peak of $6.6K, and then reduced rapidly in the following year.

Top Export Markets for Rattans Used Primarily for Plaiting from South Korea in 2022:

1. Japan (17.0 kg)

Source: IndexBox Market Intelligence Platform