Price for Cereal Groats and Meal; of Maize (Corn) in South Korea - 2022
Contents:
- Price for Cereal Groats and Meal; of Maize (Corn) in South Korea (CIF) - 2022
- Price for Cereal Groats and Meal; of Maize (Corn) in South Korea (FOB) - 2022
- Imports of Cereal Groats and Meal; of Maize (Corn) in South Korea
- Exports of Cereal Groats and Meal; of Maize (Corn) in South Korea
Price for Cereal Groats and Meal; of Maize (Corn) in South Korea (CIF) - 2022
In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $618 per ton, reducing by -4.3% against the previous year. Over the period under review, the import price showed a deep setback. The pace of growth appeared the most rapid in 2020 when the average import price increased by 33%. The import price peaked at $2,269 per ton in 2013; however, from 2014 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 Italy ($1,628 per ton), while the price for China ($435 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereal Groats and Meal; of Maize (Corn) in South Korea (FOB) - 2022
The average export price for cereal groats and meal; of maize (corn)s stood at $9,540 per ton in 2022, with an increase of 454% against the previous year. Over the period under review, the export price showed a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($10,620 per ton), while the average price for exports to Italy ($221 per ton) was amongst the lowest.
From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.0%), while the prices for the other major destinations experienced a decline.
Imports of Cereal Groats and Meal; of Maize (Corn) in South Korea
In 2022, after three years of growth, there was significant decline in purchases abroad of cereal groats and meal; of maize (corn)s, when their volume decreased by -25.8% to 2.4K tons. The total import volume increased at an average annual rate of +1.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 19%.
In value terms, imports of cereal groats and meal; of maize (corn)s contracted remarkably to $1.5M in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +11.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 59%.
| Import of Cereal Groats and Meal; of Maize (Corn) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 3.9 | 209 | 623 | 671 | 456.2% |
| India | 265 | 418 | 520 | 611 | 32.1% |
| China | 47.3 | 63.9 | 172 | 143 | 44.6% |
| Italy | 552 | 752 | 705 | 28.1 | -62.9% |
| United States | 137 | 217 | 29.6 | 2.5 | -73.7% |
| Others | 40.6 | 0.4 | 0.1 | 0.6 | -75.5% |
| Total | 1,046 | 1,660 | 2,050 | 1,456 | 11.7% |
Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to South Korea in 2022:
- India (1353.3 tons)
- France (652.2 tons)
- China (328.9 tons)
- Italy (17.2 tons)
- United States (3.0 tons)
Exports of Cereal Groats and Meal; of Maize (Corn) in South Korea
In 2022, overseas shipments of cereal groats and meal; of maize (corn)s were finally on the rise to reach 5.5 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a precipitous setback.
In value terms, exports of cereal groats and meal; of maize (corn)s surged to $53K in 2022. Over the period under review, exports continue to indicate a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Cereal Groats and Meal; of Maize (Corn) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | N/A | N/A | N/A | 50.9 | 0% |
| Philippines | N/A | N/A | 0.3 | 1.4 | 366.7% |
| United States | 12.5 | 5.7 | 8.0 | 0.4 | -68.3% |
| Indonesia | 20.3 | 2.9 | N/A | N/A | -85.7% |
| Italy | N/A | N/A | N/A | N/A | 0% |
| Others | 0.2 | N/A | N/A | N/A | 0% |
| Total | 33.0 | 8.6 | 8.4 | 52.7 | 16.9% |
Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from South Korea in 2022:
- Japan (4.8 tons)
- Philippines (0.4 tons)
- United States (0.2 tons)
- Italy (0.1 tons)
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