Price for Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea - 2022

Contents:

1. Price for Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea (CIF) - 2022
2. Price for Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea (FOB) - 2022
3. Imports of Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea
4. Exports of Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea

Price for Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea (CIF) - 2022

The average import price for fish; edible offal, fish heads, tails and mawses stood at $3,559 per ton in December 2022, dropping by -19.3% against the previous month. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 an increase of 12% m-o-m. As a result, import price attained the peak level of $4,410 per ton, and then reduced sharply in the following month.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Vietnam ($3,562 per ton), while the price for Russia amounted to $3,535 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+7.0%), while the prices for the other major suppliers experienced a decline.

Price for Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea (FOB) - 2022

The average export price for fish; edible offal, fish heads, tails and mawses stood at $17,046 per ton in 2022, which is down by -29.7% against the previous year. In general, the export price, however, saw a tangible expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 55%. Over the period under review, the average export prices hit record highs at $27,354 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($18,721 per ton), while the average price for exports to Canada ($15,083 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 Northern Mariana Islands (+34.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea

In 2022, approx. 573 tons of fish; edible offal, fish heads, tails and mawses were imported into South Korea; picking up by 25% on 2021 figures. The total import volume increased at an average annual rate of +6.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of fish; edible offal, fish heads, tails and mawses soared to $2.1M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +13.9% 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 +84.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Fish; Edible Offal, Fish Heads, Tails and Maws to South Korea in 2022:

1. Vietnam (429.5 tons)
2. Russia (97.7 tons)
3. China (46.0 tons)

Exports of Fish; Edible Offal, Fish Heads, Tails and Maws in South Korea

In 2022, the amount of fish; edible offal, fish heads, tails and mawses exported from South Korea soared to 1.4 tons, picking up by 73% on the previous year's figure. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 285%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of fish; edible offal, fish heads, tails and mawses surged to $24K in 2022. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 with an increase of 428% against the previous year. As a result, the exports reached the peak of $37K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Fish; Edible Offal, Fish Heads, Tails and Maws from South Korea in 2022:

1. Hong Kong SAR (1250.0 kg)
2. United States (129.0 kg)
3. Canada (48.0 kg)

Source: IndexBox Market Intelligence Platform