Price for Soya Beans; Other than Seed, Whether or Not Broken in South Korea - 2022
Contents:
- Price for Soya Beans; Other than Seed, Whether or Not Broken in South Korea (CIF) - 2022
- Price for Soya Beans; Other than Seed, Whether or Not Broken in South Korea (FOB) - 2022
- Imports of Soya Beans; Other than Seed, Whether or Not Broken in South Korea
- Exports of Soya Beans; Other than Seed, Whether or Not Broken in South Korea
Price for Soya Beans; Other than Seed, Whether or Not Broken in South Korea (CIF) - 2022
The average import price for soya beans; other than seed, whether or not brokens stood at $725 per ton in 2022, surging by 23% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for soya beans; other than seed, whether or not brokens increased by +64.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.
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 Paraguay ($1,628 per ton), while the price for Brazil ($673 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Soya Beans; Other than Seed, Whether or Not Broken in South Korea (FOB) - 2022
In 2022, the average export price for soya beans; other than seed, whether or not brokens amounted to $1,815 per ton, growing by 19% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 165%. As a result, the export price attained the peak level of $2,997 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($13,775 per ton), while the average price for exports to Myanmar ($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 Japan (+28.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Soya Beans; Other than Seed, Whether or Not Broken in South Korea
In 2022, approx. 1.3M tons of soya beans; other than seed, whether or not brokens were imported into South Korea; growing by 2.9% compared with 2021 figures. The total import volume increased at an average annual rate of +1.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 5.1% against the previous year. As a result, imports attained the peak of 1.3M tons; afterwards, it flattened through to 2022.
In value terms, imports of soya beans; other than seed, whether or not brokens surged to $944M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +19.3% 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 +69.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Soya Beans; Other than Seed, Whether or Not Broken in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 453 | 304 | 319 | 436 | -1.3% |
| Brazil | 45.3 | 243 | 356 | 363 | 100.1% |
| China | 39.5 | 38.9 | 47.8 | 97.4 | 35.1% |
| Canada | 13.0 | 11.9 | 11.2 | 34.2 | 38.0% |
| Others | 6.5 | 6.0 | 10.6 | 13.8 | 28.5% |
| Total | 557 | 604 | 744 | 944 | 19.2% |
Top Suppliers of Soya Beans; Other than Seed, Whether or Not Broken to South Korea in 2022:
- United States (635.5K tons)
- Brazil (538.7K tons)
- China (79.3K tons)
- Canada (35.1K tons)
Exports of Soya Beans; Other than Seed, Whether or Not Broken in South Korea
In 2022, the amount of soya beans; other than seed, whether or not brokens exported from South Korea dropped significantly to 110 tons, declining by -48.8% on the year before. Over the period under review, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 16%. As a result, the exports attained the peak of 215 tons, and then reduced dramatically in the following year.
In value terms, exports of soya beans; other than seed, whether or not brokens fell rapidly to $200K in 2022. In general, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 73% against the previous year. As a result, the exports reached the peak of $328K, and then declined markedly in the following year.
| Export of Soya Beans; Other than Seed, Whether or Not Broken in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | 157 | 223 | 115 | -14.4% |
| United States | 21.7 | 14.2 | 42.3 | 36.9 | 19.4% |
| Malaysia | 0.2 | 0.1 | 40.2 | 13.6 | 308.2% |
| Myanmar | N/A | N/A | N/A | 7.2 | 0% |
| Mongolia | 123 | N/A | N/A | N/A | 0% |
| Others | 17.3 | 18.0 | 22.2 | 27.1 | 16.1% |
| Total | 162 | 190 | 328 | 200 | 7.3% |
Top Export Markets for Soya Beans; Other than Seed, Whether or Not Broken from South Korea in 2022:
- China (80.0 tons)
- Myanmar (22.5 tons)
- United States (2.7 tons)
- Malaysia (2.1 tons)
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