Price for Yarn; of Hemp (Cannabis Sativa L.) in South Korea - 2022

Contents:

1. Price for Yarn; of Hemp (Cannabis Sativa L.) in South Korea (CIF) - 2022
2. Price for Yarn; of Hemp (Cannabis Sativa L.) in South Korea (FOB) - 2022
3. Imports of Yarn; of Hemp (Cannabis Sativa L.) in South Korea
4. Exports of Yarn; of Hemp (Cannabis Sativa L.) in South Korea

Price for Yarn; of Hemp (Cannabis Sativa L.) in South Korea (CIF) - 2022

In December 2022, the average import price for yarn; of hemp (cannabis sativa l.)s amounted to $8,486 per ton, increasing by 12% against the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 when the average import price increased by 18% month-to-month. As a result, import price reached the peak level of $10,272 per ton. From March 2022 to December 2022, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From December 2021 to December 2022, the rate of growth in terms of prices for China amounted to -0.5% per month.

Price for Yarn; of Hemp (Cannabis Sativa L.) in South Korea (FOB) - 2022

The average export price for yarn; of hemp (cannabis sativa l.)s stood at $9,403 per ton in 2022, rising by 18% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 49% against the previous year. Over the period under review, the average export prices reached the peak figure at $14,579 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($20,000 per ton), while the average price for exports to China ($6,250 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 Canada (+40.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Yarn; of Hemp (Cannabis Sativa L.) in South Korea

In 2022, purchases abroad of yarn; of hemp (cannabis sativa l.)s decreased by -16% to 141 tons, falling for the second year in a row after two years of growth. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 29%. As a result, imports reached the peak of 186 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of yarn; of hemp (cannabis sativa l.)s shrank to $1.2M in 2022. The total import value increased at an average annual rate of +3.6% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2020 with an increase of 29% against the previous year. As a result, imports attained the peak of $1.4M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Yarn; of Hemp (Cannabis Sativa L.) to South Korea in 2022:

1. China (140.4 tons)

Exports of Yarn; of Hemp (Cannabis Sativa L.) in South Korea

Exports of yarn; of hemp (cannabis sativa l.)s from South Korea soared to 233 kg in 2022, surging by 483% compared with the previous year. In general, exports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 8,917% against the previous year. As a result, the exports attained the peak of 1.1 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of yarn; of hemp (cannabis sativa l.)s skyrocketed to $2.2K in 2022. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 8,438% against the previous year. As a result, the exports reached the peak of $7.9K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Yarn; of Hemp (Cannabis Sativa L.) from South Korea in 2022:

1. United States (202.0 kg)
2. Japan (22.0 kg)
3. Canada (4.0 kg)
4. China (4.0 kg)

Source: IndexBox Market Intelligence Platform