Price for Cumin Seeds, Neither Crushed Nor Ground in South Korea - 2022

Contents:

1. Price for Cumin Seeds, Neither Crushed Nor Ground in South Korea (CIF) - 2022
2. Price for Cumin Seeds, Neither Crushed Nor Ground in South Korea (FOB) - 2022
3. Imports of Cumin Seeds, Neither Crushed Nor Ground in South Korea
4. Exports of Cumin Seeds, Neither Crushed Nor Ground in South Korea

Price for Cumin Seeds, Neither Crushed Nor Ground in South Korea (CIF) - 2022

The average import price for cumin seeds, neither crushed nor ground stood at $3,860 per ton in 2022, picking up by 10% against the previous year. Overall, the import price, however, continues to indicate a slight curtailment. The import price peaked at $4,390 per ton in 2012; however, from 2013 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 Turkey ($5,630 per ton), while the price for China ($2,524 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cumin Seeds, Neither Crushed Nor Ground in South Korea (FOB) - 2022

In 2022, the average export price for cumin seeds, neither crushed nor ground amounted to $6,000 per ton, increasing by 147% against the previous year. Over the period under review, the export price, however, continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2014 when the average export price increased by 593% against the previous year. Over the period under review, the average export prices attained the peak figure at $16,279 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for the Netherlands amounted to +2.4% per year.

Imports of Cumin Seeds, Neither Crushed Nor Ground in South Korea

In 2022, purchases abroad of cumin seeds, neither crushed nor ground decreased by -1.2% to 371 tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +7.3% 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 with an increase of 38%. As a result, imports reached the peak of 416 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of cumin seeds, neither crushed nor ground reached $1.4M in 2022. The total import value increased at an average annual rate of +9.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 32% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Top Suppliers of Cumin Seeds, Neither Crushed Nor Ground to South Korea in 2022:

1. India (323.8 tons)
2. Turkey (42.8 tons)
3. Pakistan (1.0 tons)

Exports of Cumin Seeds, Neither Crushed Nor Ground in South Korea

In 2022, the amount of cumin seeds, neither crushed nor ground exported from South Korea fell sharply to 110 kg, with a decrease of -99.4% against 2021. In general, exports showed a sharp shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 29,735% against the previous year. As a result, the exports reached the peak of 18 tons, and then contracted dramatically in the following year.

In value terms, exports of cumin seeds, neither crushed nor ground contracted rapidly to $660 in 2022. Over the period under review, exports showed a sharp decline. The pace of growth was the most pronounced in 2021 when exports increased by 32,071%. As a result, the exports reached the peak of $43K, and then shrank dramatically in the following year.

Top Export Markets for Cumin Seeds, Neither Crushed Nor Ground from South Korea in 2022:

1. China (110.0 kg)

Source: IndexBox Market Intelligence Platform