Price for Spices; Cardamoms, Crushed or Ground in South Korea - 2022
Contents:
- Price for Spices; Cardamoms, Crushed or Ground in South Korea (CIF) - 2022
- Price for Spices; Cardamoms, Crushed or Ground in South Korea (FOB) - 2022
- Imports of Spices; Cardamoms, Crushed or Ground in South Korea
- Exports of Spices; Cardamoms, Crushed or Ground in South Korea
Price for Spices; Cardamoms, Crushed or Ground in South Korea (CIF) - 2022
In 2022, the average import price for spices; cardamoms, crushed or ground amounted to $55,083 per ton, surging by 65% against the previous year. In general, the import price showed buoyant growth. The pace of growth was the most pronounced in 2018 an increase of 76%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.
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 the United States ($153,263 per ton), while the price for Malaysia stood at $38,365 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+54.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cardamoms, Crushed or Ground in South Korea (FOB) - 2022
The average export price for spices; cardamoms, crushed or ground stood at $21,788 per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price saw pronounced growth. The growth pace was the most rapid in 2020 when the average export price decreased by -1.9% against the previous year. The export price peaked at $43,000 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for India.
From 2015 to 2022, the rate of growth in terms of prices for Malaysia amounted to +1.0% per year.
Imports of Spices; Cardamoms, Crushed or Ground in South Korea
Spices; cardamoms, crushed or ground imports into South Korea declined sharply to 253 kg in 2022, falling by -66.8% against the year before. Over the period under review, imports saw a sharp setback. The pace of growth appeared the most rapid in 2021 when imports increased by 12%.
In value terms, spices; cardamoms, crushed or ground imports declined significantly to $14K in 2022. In general, imports showed a sharp slump. The pace of growth appeared the most rapid in 2021 when imports increased by 41%.
| Import of Spices; Cardamoms, Crushed or Ground in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 4.0 | 1.6 | 2.1 | 8.1 | 26.5% |
| United States | 0.1 | 0.2 | 1.6 | 5.8 | 287.1% |
| Indonesia | 10.2 | 9.1 | 13.8 | N/A | 16.3% |
| Myanmar | 15.5 | 6.8 | 5.9 | N/A | -38.3% |
| Others | 0.9 | 0.4 | 2.0 | N/A | 49.1% |
| Total | 30.6 | 18.1 | 25.5 | 13.9 | -23.1% |
Top Suppliers of Spices; Cardamoms, Crushed or Ground to South Korea in 2022:
- Malaysia (211.0 kg)
- United States (38.0 kg)
Exports of Spices; Cardamoms, Crushed or Ground in South Korea
In 2022, shipments abroad of spices; cardamoms, crushed or ground decreased by 0% to 482 kg, falling for the second year in a row after two years of growth. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 3.6% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.
In value terms, spices; cardamoms, crushed or ground exports amounted to $11K in 2022. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 1.7% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.
| Export of Spices; Cardamoms, Crushed or Ground in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | N/A | N/A | N/A | 10.5 | 0% |
| Malaysia | 3.3 | 3.3 | N/A | N/A | 0.0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 3.3 | 3.3 | N/A | 10.5 | 47.1% |
Top Export Markets for Spices; Cardamoms, Crushed or Ground from South Korea in 2022:
- India (482.0 kg)
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