Price for Herbs; Thyme, Bay Leaves in South Korea - 2022
Contents:
- Price for Herbs; Thyme, Bay Leaves in South Korea (CIF) - 2022
- Imports of Herbs; Thyme, Bay Leaves in South Korea
Price for Herbs; Thyme, Bay Leaves in South Korea (CIF) - 2022
In 2022, the average herbs; thyme, bay leaves import price amounted to $2,951 per ton, reducing by -6.5% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, herbs; thyme, bay leaves import price decreased by -37.8% against 2015 indices. The growth pace was the most rapid in 2013 when the average import price increased by 42%. The import price peaked at $4,744 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for the Philippines.
From 2012 to 2022, the rate of growth in terms of prices for Morocco amounted to +52.6% per year.
Imports of Herbs; Thyme, Bay Leaves in South Korea
For the fourth year in a row, South Korea recorded growth in purchases abroad of herbs, which increased by 13% to 1.6 tons in 2022. The total import volume increased at an average annual rate of +13.4% over the period 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 2021 with an increase of 13%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, herbs; thyme, bay leaves imports expanded remarkably to $4.8K in 2022. The total import value increased at an average annual rate of +6.0% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 6%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
Import of Herbs; Thyme, Bay Leaves in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Philippines | 4.1 | 4.3 | 4.6 | 4.8 | 5.4% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 4.1 | 4.3 | 4.6 | 4.8 | 5.4% |
Top Suppliers of Herbs; Thyme, Bay Leaves to South Korea in 2022:
- Philippines (1.6 tons)
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