Spices; Mixtures Price in South Korea - 2022
Contents:
- Spices; Mixtures Price in South Korea (CIF) - 2022
- Spices; Mixtures Price in South Korea (FOB) - 2022
- Spices; Mixtures Imports in South Korea
- Spices; Mixtures Exports in South Korea
Spices; Mixtures Price in South Korea (CIF) - 2022
In 2022, the average spices; mixtures import price amounted to $6,807 per ton, growing by 9.1% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; mixtures import price increased by +28.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 77% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($12,801 per ton), while the price for Indonesia ($1,580 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+29.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Mixtures Price in South Korea (FOB) - 2022
In 2022, the average spices; mixtures export price amounted to $4,931 per ton, surging by 4% 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 2020 when the average export price increased by 37%. As a result, the export price reached the peak level of $5,348 per ton. From 2021 to 2022, the average 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 Australia ($7,024 per ton), while the average price for exports to the United Arab Emirates ($1,266 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 Australia (+27.2%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Mixtures Imports in South Korea
In 2022, imports of spices; mixtureses into South Korea dropped sharply to 159 tons, waning by -23% compared with the year before. Overall, imports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 53%. As a result, imports reached the peak of 206 tons, and then dropped rapidly in the following year.
In value terms, spices; mixtures imports reduced notably to $1.1M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +5.3% 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 +23.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 47% against the previous year. As a result, imports attained the peak of $1.3M, and then shrank notably in the following year.
| Import of Spices; Mixtures in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 202 | 267 | 392 | 407 | 26.3% |
| Vietnam | 19.7 | 33.3 | 48.2 | 170 | 105.1% |
| China | 79.3 | 23.5 | 18.2 | 82.2 | 1.2% |
| Japan | 175 | 78.8 | 22.8 | 80.1 | -22.9% |
| Sri Lanka | 28.1 | 46.9 | 66.7 | 68.5 | 34.6% |
| Belgium | 41.3 | 38.2 | 42.6 | 29.4 | -10.7% |
| Indonesia | 78.6 | 57.6 | 36.1 | 23.9 | -32.8% |
| United Arab Emirates | 30.6 | 6.2 | 19.2 | 22.2 | -10.1% |
| Netherlands | 13.2 | 11.4 | 7.6 | 15.8 | 6.2% |
| Singapore | 25.9 | 1.1 | 4.5 | 9.2 | -29.2% |
| United States | 100 | 158 | 192 | 5.5 | -62.0% |
| Myanmar | 2.1 | 3.9 | 3.2 | 3.7 | 20.8% |
| Others | 131 | 149 | 434 | 164 | 7.8% |
| Total | 926 | 874 | 1,287 | 1,081 | 5.3% |
Top Suppliers of Spices; Mixtures to South Korea in 2022:
- India (71.3 tons)
- Vietnam (19.9 tons)
- Indonesia (15.2 tons)
- Sri Lanka (11.2 tons)
- China (8.0 tons)
- Japan (6.3 tons)
- Netherlands (3.3 tons)
- Myanmar (3.3 tons)
- United Arab Emirates (2.5 tons)
- Belgium (1.8 tons)
- Singapore (1.0 tons)
- United States (0.9 tons)
Spices; Mixtures Exports in South Korea
Spices; mixtures exports from South Korea shrank rapidly to 137 tons in 2022, waning by -47.6% against the year before. Overall, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 1,146%. As a result, the exports reached the peak of 261 tons, and then reduced notably in the following year.
In value terms, spices; mixtures exports contracted sharply to $675K in 2022. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 1,004% against the previous year. As a result, the exports attained the peak of $1.2M, and then fell significantly in the following year.
| Export of Spices; Mixtures in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 27.6 | 37.2 | 479 | 271 | 114.1% |
| Canada | 58.5 | 15.5 | 121 | 65.6 | 3.9% |
| Netherlands | 24.8 | 7.4 | 99.3 | 44.1 | 21.2% |
| Pakistan | 17.1 | 5.6 | 53.9 | 36.7 | 29.0% |
| China | 109 | 6.3 | 56.1 | 35.3 | -31.3% |
| Singapore | 9.7 | 3.4 | 35.4 | 33.6 | 51.3% |
| Russia | 36.4 | 2.1 | 5.5 | 19.3 | -19.1% |
| Panama | 9.0 | 2.7 | 24.6 | 15.6 | 20.1% |
| Cambodia | 9.3 | 2.5 | 21.0 | 12.0 | 8.9% |
| United Arab Emirates | 5.8 | 3.1 | 18.9 | 7.2 | 7.5% |
| Others | 78.3 | 26.2 | 323 | 134 | 19.6% |
| Total | 386 | 112 | 1,237 | 675 | 20.5% |
Top Export Markets for Spices; Mixtures from South Korea in 2022:
- Germany (43.9 tons)
- Canada (11.0 tons)
- Pakistan (10.1 tons)
- Netherlands (8.8 tons)
- China (7.9 tons)
- Singapore (7.8 tons)
- Cambodia (6.5 tons)
- United Arab Emirates (5.7 tons)
- Panama (4.3 tons)
- Russia (3.1 tons)
883
This report provides an in-depth analysis of the ginger market in Republic of Korea.
46
This report provides an in-depth analysis of the market for spices except pepper or ginger in Republic of Korea.
663
This report provides an in-depth analysis of the market for dog and cat food in Republic of Korea.
805
This report provides an in-depth analysis of the apricot market in Republic of Korea.
1127
This report provides an in-depth analysis of the virgin olive oil market in Republic of Korea.
480
This report provides an in-depth analysis of the paint and varnish market in Republic of Korea.
365
This report provides an in-depth analysis of the olive oil market in Republic of Korea.
301
This report provides an in-depth analysis of the encased lead pencil market in Republic of Korea.
271
This report provides an in-depth analysis of the market for clock movements, complete and assembled in Republic of Korea.
377
This report provides an in-depth analysis of the diphosphorus pentaoxide market in Republic of Korea.
908
The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
1022
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
783
The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
7504
Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
8586
Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
1381
The global ginger market recorded a positive trend over the period under review, growing from X thousand tons in 2007 to X thousand tons in 2015 with a CAGR +X>
7887
The value of total imports on the global ginger market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of ginger was X thousand tons i
11867
In 2015, the leading ginger consuming markets were India (X%), Indonesia (X%), Nepal (X%), Nigeria (X%), and China (X%), together accounting for approximately X% of global consumption. These countries were also amongst the leading producers on the g
1621
From 2007 to 2015, global exports on the ginger market grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports were X thousand tons in 2015, X thousand tons more than the year before.
3387
The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.
