Price for Cereal Flour; of Maize (Corn) in South Korea - 2022
Contents:
- Price for Cereal Flour; of Maize (Corn) in South Korea (CIF) - 2022
- Price for Cereal Flour; of Maize (Corn) in South Korea (FOB) - 2022
- Imports of Cereal Flour; of Maize (Corn) in South Korea
- Exports of Cereal Flour; of Maize (Corn) in South Korea
Price for Cereal Flour; of Maize (Corn) in South Korea (CIF) - 2022
In December 2022, the average import price for cereal flour; of maize (corn) amounted to $602 per ton, approximately equating the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 an increase of 21% month-to-month. The import price peaked at $620 per ton in September 2022; however, from October 2022 to December 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Indonesia ($950 per ton), while the price for India ($473 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by France (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereal Flour; of Maize (Corn) in South Korea (FOB) - 2022
The average export price for cereal flour; of maize (corn) stood at $1,244 per ton in 2022, leveling off at the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 42%. The export price peaked at $2,195 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($2,375 per ton), while the average price for exports to Vietnam ($1,051 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 Kazakhstan (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereal Flour; of Maize (Corn) in South Korea
Cereal flour; of maize (corn) imports into South Korea expanded rapidly to 18K tons in 2022, picking up by 8.7% on the previous year. The total import volume increased at an average annual rate of +12.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 27% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.
In value terms, cereal flour; of maize (corn) imports soared to $10M in 2022. The total import value increased at an average annual rate of +14.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 27% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.
| Import of Cereal Flour; of Maize (Corn) in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2.5 | 3.1 | 3.3 | 4.1 | 17.9% |
| France | 1.7 | 2.0 | 1.7 | 3.2 | 23.5% |
| Netherlands | 1.7 | 2.6 | 2.7 | 1.8 | 1.9% |
| Indonesia | 0.4 | 0.5 | 0.5 | 0.6 | 14.5% |
| Italy | 0.4 | 0.3 | 0.2 | 0.2 | -20.6% |
| Others | 0.1 | 0.1 | 0.2 | 0.3 | 44.2% |
| Total | 6.8 | 8.6 | 8.6 | 10.1 | 14.1% |
Top Suppliers of Cereal Flour; of Maize (Corn) to South Korea in 2022:
- India (9.6K tons)
- France (4.9K tons)
- Netherlands (2.0K tons)
- Indonesia (0.6K tons)
- Italy (0.3K tons)
Exports of Cereal Flour; of Maize (Corn) in South Korea
In 2022, shipments abroad of cereal flour; of maize (corn) was finally on the rise to reach 177 tons after two years of decline. In general, exports, however, faced a abrupt setback.
In value terms, cereal flour; of maize (corn) exports surged to $221K in 2022. Overall, exports, however, saw a perceptible setback.
| Export of Cereal Flour; of Maize (Corn) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 102 | 72.6 | 55.8 | 133 | 9.2% |
| Vietnam | 15.4 | 23.1 | 31.7 | 44.1 | 42.0% |
| United States | 20.3 | 25.6 | 36.7 | 29.2 | 12.9% |
| Kazakhstan | 2.1 | 9.7 | 9.0 | 11.9 | 78.3% |
| India | 86.0 | 22.4 | N/A | N/A | -74.0% |
| Others | 16.0 | 6.1 | 0.5 | 2.7 | -44.7% |
| Total | 242 | 159 | 134 | 221 | -3.0% |
Top Export Markets for Cereal Flour; of Maize (Corn) from South Korea in 2022:
- China (110.7 tons)
- Vietnam (42.0 tons)
- United States (17.8 tons)
- Kazakhstan (5.0 tons)
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Explore the top import markets for cereal flour in 2023, including key statistics and market insights. Learn about the leading countries driving demand for cereal flour products.
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Explore the top import markets for cereal flour in 2023, including key statistics and market insights. Learn about the leading countries driving demand for cereal flour products.
