Price for Spices; Cardamoms, Neither Crushed Nor Ground in South Korea - 2022
Contents:
- Price for Spices; Cardamoms, Neither Crushed Nor Ground in South Korea (CIF) - 2022
- Price for Spices; Cardamoms, Neither Crushed Nor Ground in South Korea (FOB) - 2022
- Imports of Spices; Cardamoms, Neither Crushed Nor Ground in South Korea
- Exports of Spices; Cardamoms, Neither Crushed Nor Ground in South Korea
Price for Spices; Cardamoms, Neither Crushed Nor Ground in South Korea (CIF) - 2022
The average import price for spices; cardamoms, neither crushed nor ground stood at $14,160 per ton in 2022, dropping by -34.5% against the previous year. In general, the import price, however, enjoyed perceptible growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 65%. As a result, import price attained the peak level of $26,193 per ton. From 2021 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Guatemala ($15,577 per ton), while the price for Vietnam ($5,396 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cardamoms, Neither Crushed Nor Ground in South Korea (FOB) - 2022
In 2022, the average export price for spices; cardamoms, neither crushed nor ground amounted to $19,508 per ton, picking up by 131% against the previous year. Over the period under review, the export price posted a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Indonesia.
From 2013 to 2022, the rate of growth in terms of prices for Maldives amounted to +18.0% per year.
Imports of Spices; Cardamoms, Neither Crushed Nor Ground in South Korea
In 2022, approx. 74 tons of spices; cardamoms, neither crushed nor ground were imported into South Korea; surging by 13% against 2021. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 91%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of spices; cardamoms, neither crushed nor ground shrank remarkably to $1.1M in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +10.5% 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 +34.8% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 58% against the previous year. As a result, imports attained the peak of $1.4M, and then contracted significantly in the following year.
| Import of Spices; Cardamoms, Neither Crushed Nor Ground in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 176 | 103 | 261 | 596 | 50.2% |
| Guatemala | 210 | 263 | 220 | 363 | 20.0% |
| India | 0.9 | 32.2 | 27.1 | 43.3 | 263.7% |
| China | 3.5 | 2.4 | 5.7 | 26.3 | 95.9% |
| Myanmar | 295 | 359 | 306 | N/A | 1.8% |
| Lao People's Democratic Republic | 56.1 | 7.8 | 18.0 | N/A | -43.4% |
| Others | 37.9 | 134 | 584 | 22.4 | -16.1% |
| Total | 779 | 901 | 1,423 | 1,051 | 10.5% |
Top Suppliers of Spices; Cardamoms, Neither Crushed Nor Ground to South Korea in 2022:
- Indonesia (43.8 tons)
- Guatemala (23.3 tons)
- India (2.8 tons)
- China (2.1 tons)
Exports of Spices; Cardamoms, Neither Crushed Nor Ground in South Korea
After two years of growth, shipments abroad of spices; cardamoms, neither crushed nor ground decreased by -18.5% to 1.9 tons in 2022. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 12,316%. As a result, the exports reached the peak of 2.4 tons, and then contracted dramatically in the following year.
In value terms, exports of spices; cardamoms, neither crushed nor ground surged to $38K in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 15,936%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.
| Export of Spices; Cardamoms, Neither Crushed Nor Ground in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| Indonesia | N/A | N/A | 37.5 | 0% | |
| Singapore | N/A | 3.2 | N/A | 0% | |
| India | N/A | 13.0 | N/A | 0% | |
| Others | 0.1 | 3.6 | N/A | 3500.0% | |
| Total | 0.1 | 19.9 | 37.5 | 1836.5% | |
Top Export Markets for Spices; Cardamoms, Neither Crushed Nor Ground from South Korea in 2022:
- Indonesia (1.9 tons)
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