Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea - 2022
Contents:
- Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea (CIF) - 2022
- Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea (FOB) - 2022
- Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea
- Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea
Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea (CIF) - 2022
In December 2022, the average import price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds amounted to $6,647 per ton, approximately equating the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2022 an increase of 14% against the previous month. Over the period under review, average import prices attained the maximum at $6,914 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 Thailand ($15,642 per ton), while the price for China ($3,873 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 Peru (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea (FOB) - 2022
In December 2022, the average export price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds amounted to $11,867 per ton, waning by -3.1% against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2022 an increase of 46% against the previous month. As a result, the export price reached the peak level of $16,051 per ton. From June 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was Hong Kong SAR ($19,794 per ton), while the average price for exports to China ($8,058 per ton) 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 (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea
In 2022, the amount of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds imported into South Korea rose modestly to 91K tons, with an increase of 3.6% against the previous year. The total import volume increased at an average annual rate of +2.1% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds totaled $582M in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 142 | 133 | 150 | 179 | 8.0% |
| China | 122 | 115 | 118 | 131 | 2.4% |
| Peru | 89.6 | 87.0 | 68.6 | 82.8 | -2.6% |
| Thailand | 41.0 | 43.0 | 64.6 | 57.5 | 11.9% |
| United Kingdom | 45.9 | 49.6 | 46.5 | 37.3 | -6.7% |
| Mexico | 2.6 | 1.7 | 1.4 | 14.4 | 76.9% |
| Turkey | 13.3 | 13.0 | 11.4 | 8.8 | -12.9% |
| Senegal | 4.6 | 3.3 | 3.6 | 6.1 | 9.9% |
| Others | 76.1 | 75.5 | 55.9 | 65.1 | -5.1% |
| Total | 538 | 521 | 520 | 582 | 2.7% |
Top Suppliers of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved to South Korea in 2022:
- China (33.0K tons)
- Vietnam (21.2K tons)
- Peru (18.3K tons)
- Thailand (4.2K tons)
- United Kingdom (3.6K tons)
- Mexico (2.0K tons)
- Senegal (1.5K tons)
- Turkey (1.1K tons)
Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea
In 2022, the amount of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds exported from South Korea surged to 12K tons, with an increase of 22% compared with 2021 figures. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +12.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.0% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds surged to $147M in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +12.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 30%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.
| Export of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 25.7 | 26.0 | 36.5 | 43.1 | 18.8% |
| China | 9.1 | 11.3 | 24.0 | 38.6 | 61.9% |
| Japan | 39.0 | 30.9 | 31.7 | 36.1 | -2.5% |
| Hong Kong SAR | 10.6 | 8.7 | 11.7 | 8.8 | -6.0% |
| Singapore | 4.3 | 3.2 | 3.5 | 3.3 | -8.4% |
| Taiwan (Chinese) | 0.6 | 2.4 | 1.5 | 2.8 | 67.1% |
| Mexico | 1.0 | 0.8 | 0.7 | 0.5 | -20.6% |
| Others | 13.0 | 12.7 | 15.4 | 13.7 | 1.8% |
| Total | 103 | 95.9 | 125 | 147 | 12.6% |
Top Export Markets for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved from South Korea in 2022:
- United States (3.9K tons)
- Japan (3.3K tons)
- China (2.4K tons)
- Hong Kong SAR (0.4K tons)
- Taiwan (Chinese) (0.2K tons)
- Singapore (0.2K tons)
- Mexico (0.1K tons)
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