Price for Flour and Meal; of Potatoes in South Korea - 2022

Contents:

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

Price for Flour and Meal; of Potatoes in South Korea (CIF) - 2022

The average import price for flour and meal; of potatoeses stood at $2,261 per ton in 2022, surging by 33% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($2,369 per ton), while the price for the Netherlands ($1,219 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+20.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Flour and Meal; of Potatoes in South Korea (FOB) - 2022

In 2022, the average export price for flour and meal; of potatoeses amounted to $1,913 per ton, waning by -24.8% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the average export price increased by 49%. Over the period under review, the average export prices hit record highs at $2,543 per ton in 2021, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($5,139 per ton), while the average price for exports to Poland ($1,441 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 Japan (+25.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flour and Meal; of Potatoes in South Korea

In 2022, after three years of growth, there was significant decline in overseas purchases of flour and meal; of potatoeses, when their volume decreased by -17.4% to 3.5K tons. Over the period under review, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 95%. As a result, imports reached the peak of 4.2K tons, and then declined dramatically in the following year.

In value terms, flour and meal; of potatoes imports expanded significantly to $7.8M in 2022. Overall, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 77% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Flour and Meal; of Potatoes to South Korea in 2022:

1. United States (2905.3 tons)
2. Netherlands (242.0 tons)
3. India (209.2 tons)
4. Germany (34.5 tons)

Exports of Flour and Meal; of Potatoes in South Korea

In 2022, exports of flour and meal; of potatoeses from South Korea soared to 107 tons, increasing by 80% on the previous year. In general, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, flour and meal; of potatoes exports soared to $205K in 2022. Overall, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +14.1% 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 +48.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Flour and Meal; of Potatoes from South Korea in 2022:

1. China (50.0 tons)
2. Poland (44.0 tons)
3. United States (6.4 tons)
4. Japan (1.9 tons)

Source: IndexBox Market Intelligence Platform