Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea - 2022
Contents:
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea (CIF) - 2022
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea (FOB) - 2022
- Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea
- Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea (CIF) - 2022
The average import price for liquid margarine and edible mixtures of animal or vegetable fats stood at $4,921 per ton in December 2022, rising by 5.8% against the previous month. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 when the average import price increased by 24% m-o-m. Over the period under review, average import prices hit record highs at $5,861 per ton in April 2022; however, from May 2022 to December 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($49,480 per ton), while the price for Indonesia ($1,321 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 (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea (FOB) - 2022
In December 2022, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $5,296 per ton, declining by -25.2% against the previous month. In general, the export price, however, posted tangible growth. The pace of growth was the most pronounced in November 2022 when the average export price increased by 107% m-o-m. Over the period under review, the average export prices attained the peak figure at $8,743 per ton in February 2022; however, from March 2022 to December 2022, the export prices stood 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 the United States ($6,619 per ton), while the average price for exports to Vietnam totaled $2,871 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+3.0%), while the prices for the other major destinations experienced a decline.
Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea
In 2022, overseas purchases of liquid margarine and edible mixtures of animal or vegetable fats were finally on the rise to reach 21K tons after two years of decline. In general, imports, however, continue to indicate a deep reduction.
In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats rose remarkably to $48M in 2022. Over the period under review, imports, however, recorded a slight decrease.
| Import of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 13.9 | 11.7 | 10.3 | 14.7 | 1.9% |
| Malaysia | 11.8 | 11.5 | 10.2 | 13.3 | 4.1% |
| China | 9.7 | 10.4 | 6.4 | 5.3 | -18.2% |
| Indonesia | 3.2 | 3.7 | 3.7 | 3.7 | 5.0% |
| Spain | 0.9 | 1.0 | 3.5 | 3.3 | 54.2% |
| United States | 2.7 | 6.4 | 3.9 | 2.5 | -2.5% |
| Italy | 1.8 | 1.7 | 0.8 | 1.9 | 1.8% |
| Philippines | 0.6 | 0.5 | 0.1 | 0.4 | -12.6% |
| Others | 5.6 | 6.2 | 5.0 | 3.5 | -14.5% |
| Total | 50.1 | 53.0 | 43.9 | 48.4 | -1.1% |
Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to South Korea in 2022:
- Singapore (6.5K tons)
- Malaysia (6.5K tons)
- Indonesia (2.8K tons)
- China (1.7K tons)
- Spain (1.3K tons)
- Italy (0.6K tons)
- United States (0.6K tons)
- Philippines (0.3K tons)
Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea
In 2022, after three years of growth, there was significant decline in shipments abroad of liquid margarine and edible mixtures of animal or vegetable fats, when their volume decreased by -17.1% to 2.6K tons. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +9.0% 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 +29.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 52%. As a result, the exports reached the peak of 3.2K tons, and then dropped rapidly in the following year.
In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats dropped rapidly to $7M in 2022. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 173% against the previous year. As a result, the exports attained the peak of $10M, and then contracted sharply in the following year.
| Export of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 2.8 | 3.0 | 8.2 | 5.5 | 25.2% |
| China | 0.3 | 0.2 | 0.7 | 0.7 | 32.6% |
| Japan | 0.1 | 0.3 | 0.8 | 0.6 | 81.7% |
| Guatemala | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Others | 0.2 | 0.1 | 0.4 | 0.2 | 0.0% |
| Total | 3.5 | 3.7 | 10.2 | 7.0 | 26.0% |
Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from South Korea in 2022:
- Vietnam (2280.6 tons)
- Japan (189.3 tons)
- Guatemala (69.4 tons)
- China (56.4 tons)
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