Liqueurs and Cordials Price in South Korea - 2022
Contents:
- Liqueurs and Cordials Price in South Korea (FOB) - 2022
- Liqueurs and Cordials Price in South Korea (CIF) - 2022
- Liqueurs and Cordials Exports in South Korea
- Liqueurs and Cordials Imports in South Korea
Liqueurs and Cordials Price in South Korea (FOB) - 2022
The average liqueurs and cordials export price stood at $1.7 per litre in December 2022, rising by 2.5% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.1%. The pace of growth was the most pronounced in August 2022 an increase of 12% month-to-month. As a result, the export price attained the peak level of $1.7 per litre; afterwards, it flattened through to December 2022.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2.9 per litre), while the average price for exports to the Philippines ($1.2 per litre) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.
Liqueurs and Cordials Price in South Korea (CIF) - 2022
The average liqueurs and cordials import price stood at $3.6 per litre in December 2022, picking up by 1.5% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2022 an increase of 52% against the previous month. As a result, import price reached the peak level of $4.2 per litre. From June 2022 to December 2022, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($7.6 per litre), while the price for New Zealand ($1.4 per litre) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Liqueurs and Cordials Exports in South Korea
In 2022, after three years of growth, there was significant decline in overseas shipments of liqueurs and cordialses, when their volume decreased by -18.4% to 44M litres. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 99%. The exports peaked at 53M litres in 2021, and then dropped remarkably in the following year.
In value terms, liqueurs and cordials exports dropped notably to $66M in 2022. Overall, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 62% against the previous year. As a result, the exports attained the peak of $81M, and then reduced markedly in the following year.
| Export of Liqueurs and Cordials in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.9 | 16.8 | 27.1 | 38.6 | 77.5% |
| Japan | 27.2 | 15.8 | 22.3 | 18.5 | -12.1% |
| Philippines | 1.2 | 13.4 | 8.8 | 5.6 | 67.1% |
| Others | 1.9 | 4.0 | 23.0 | 2.9 | 15.1% |
| Total | 37.2 | 50.1 | 81.2 | 65.6 | 20.8% |
Top Export Markets for Liqueurs and Cordials from South Korea in 2022:
- China (24.9M litres)
- Japan (14.1M litres)
- Philippines (3.7M litres)
Liqueurs and Cordials Imports in South Korea
In 2022, the amount of liqueurs and cordialses imported into South Korea reduced modestly to 5.3M litres, standing approx. at the previous year's figure. Overall, imports saw a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by 0.1% against the previous year. Over the period under review, imports hit record highs at 6.1M litres in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, liqueurs and cordials imports contracted to $17M in 2022. In general, imports saw a noticeable curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 14%. Over the period under review, imports attained the maximum at $19M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Liqueurs and Cordials in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 4.5 | 2.9 | 2.1 | 2.8 | -14.6% |
| Italy | 1.6 | 2.0 | 2.2 | 1.8 | 4.0% |
| United States | 3.5 | 2.4 | 2.0 | 1.4 | -26.3% |
| Germany | 2.4 | 3.0 | 1.6 | 1.0 | -25.3% |
| Japan | 1.3 | 0.7 | 0.7 | 0.9 | -11.5% |
| Spain | 1.3 | 1.7 | 0.8 | 0.7 | -18.6% |
| France | 1.0 | 0.8 | 0.5 | 0.4 | -26.3% |
| Others | 3.0 | 2.2 | 8.1 | 7.9 | 38.1% |
| Total | 18.7 | 15.8 | 18.0 | 16.9 | -3.3% |
Top Suppliers of Liqueurs and Cordials to South Korea in 2022:
- Netherlands (729.1K litres)
- Japan (657.1K litres)
- Italy (438.0K litres)
- Spain (390.0K litres)
- Germany (333.9K litres)
- France (184.9K litres)
- United States (127.0K litres)
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