Price for Cereal Groats; Meal and Pellets in South Korea - 2022

Contents:

1. Price for Cereal Groats; Meal and Pellets in South Korea (CIF) - 2022
2. Price for Cereal Groats; Meal and Pellets in South Korea (FOB) - 2022
3. Imports of Cereal Groats; Meal and Pellets in South Korea
4. Exports of Cereal Groats; Meal and Pellets in South Korea

Price for Cereal Groats; Meal and Pellets in South Korea (CIF) - 2022

In 2022, the average import price for cereal groats; meal and pelletses amounted to $576 per ton, dropping by -4.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 30%. Over the period under review, average import prices reached the maximum at $604 per ton in 2021, and then shrank modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($1,788 per ton), while the price for Australia ($152 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Groats; Meal and Pellets in South Korea (FOB) - 2022

In 2022, the average export price for cereal groats; meal and pelletses amounted to $944 per ton, increasing by 59% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $1,020 per ton in 2020; however, from 2021 to 2022, the 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 the UK ($1,588 per ton), while the average price for exports to Indonesia ($45 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 Estonia (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cereal Groats; Meal and Pellets in South Korea

In 2022, after three years of growth, there was significant decline in purchases abroad of cereal groats; meal and pelletses, when their volume decreased by -8.5% to 3.6K tons. In general, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +15.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.8% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 33% against the previous year.

In value terms, cereal groats; meal and pellets imports reduced to $2.1M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +19.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.0% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 44% against the previous year.

Top Suppliers of Cereal Groats; Meal and Pellets to South Korea in 2022:

1. Australia (1430.9 tons)
2. China (694.4 tons)
3. South Africa (522.4 tons)
4. Canada (293.3 tons)
5. France (234.3 tons)
6. Turkey (176.3 tons)
7. Belgium (95.1 tons)
8. Brazil (27.8 tons)

Exports of Cereal Groats; Meal and Pellets in South Korea

In 2022, approx. 3.3K tons of cereal groats; meal and pelletses were exported from South Korea; waning by -54.8% on 2021 figures. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 293% against the previous year. As a result, the exports reached the peak of 7.3K tons, and then declined remarkably in the following year.

In value terms, cereal groats; meal and pellets exports shrank rapidly to $3.1M in 2022. In general, exports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2021 with an increase of 129% against the previous year. As a result, the exports reached the peak of $4.4M, and then shrank markedly in the following year.

Top Export Markets for Cereal Groats; Meal and Pellets from South Korea in 2022:

1. United States (970.9 tons)
2. Indonesia (742.1 tons)
3. Japan (610.4 tons)
4. United Kingdom (175.7 tons)
5. Malaysia (152.5 tons)
6. Poland (116.3 tons)
7. Canada (105.9 tons)
8. Singapore (91.3 tons)
9. Estonia (75.7 tons)
10. Nigeria (38.2 tons)

Source: IndexBox Market Intelligence Platform