Price for Vegetable Saps and Extracts; of Hops in South Korea - 2022

Contents:

1. Price for Vegetable Saps and Extracts; of Hops in South Korea (CIF) - 2022
2. Price for Vegetable Saps and Extracts; of Hops in South Korea (FOB) - 2022
3. Imports of Vegetable Saps and Extracts; of Hops in South Korea
4. Exports of Vegetable Saps and Extracts; of Hops in South Korea

Price for Vegetable Saps and Extracts; of Hops in South Korea (CIF) - 2022

In 2022, the average import price for vegetable saps and extracts; of hopses amounted to $39,049 per ton, which is down by -3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2016 an increase of 33%. Over the period under review, average import prices reached the peak figure at $43,011 per ton in 2017; however, from 2018 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 the UK ($54,311 per ton), while the price for Germany ($22,673 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Vegetable Saps and Extracts; of Hops in South Korea (FOB) - 2022

In 2022, the average export price for vegetable saps and extracts; of hopses amounted to $41,221 per ton, rising by 342% against the previous year. Overall, the export price, however, recorded a deep reduction. The export price peaked at $118,600 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($47,080 per ton), while the average price for exports to Indonesia ($4,983 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 Vietnam (+14.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Vegetable Saps and Extracts; of Hops in South Korea

Imports of vegetable saps and extracts; of hopses into South Korea fell remarkably to 119 tons in 2022, with a decrease of -17.3% compared with 2021 figures. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +6.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 49%. As a result, imports reached the peak of 144 tons, and then dropped markedly in the following year.

In value terms, imports of vegetable saps and extracts; of hopses reduced dramatically to $4.7M in 2022. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 88% against the previous year. As a result, imports attained the peak of $5.8M, and then shrank significantly in the following year.

Top Suppliers of Vegetable Saps and Extracts; of Hops to South Korea in 2022:

1. United States (76.3 tons)
2. Germany (35.5 tons)
3. United Kingdom (7.1 tons)

Exports of Vegetable Saps and Extracts; of Hops in South Korea

In 2022, exports of vegetable saps and extracts; of hopses from South Korea surged to 860 kg, with an increase of 291% against the previous year's figure. In general, exports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 789%. As a result, the exports attained the peak of 3.1 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of vegetable saps and extracts; of hopses skyrocketed to $35K in 2022. Over the period under review, exports recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 3,063% against the previous year. As a result, the exports attained the peak of $75K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Vegetable Saps and Extracts; of Hops from South Korea in 2022:

1. United States (640.0 kg)
2. France (160.0 kg)
3. Indonesia (60.0 kg)

Source: IndexBox Market Intelligence Platform