Price for Mollusc Preparations; Oysters, Prepared or Preserved in South Korea - 2022

Contents:

1. Price for Mollusc Preparations; Oysters, Prepared or Preserved in South Korea (FOB) - 2022
2. Price for Mollusc Preparations; Oysters, Prepared or Preserved in South Korea (CIF) - 2022
3. Exports of Mollusc Preparations; Oysters, Prepared or Preserved in South Korea
4. Imports of Mollusc Preparations; Oysters, Prepared or Preserved in South Korea

Price for Mollusc Preparations; Oysters, Prepared or Preserved in South Korea (FOB) - 2022

The average export price for mollusc preparations; oysters, prepared or preserveds stood at $10,157 per ton in December 2022, growing by 1.6% against the previous month. Over the period under review, the export price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in July 2022 when the average export price increased by 26% month-to-month. Over the period under review, the average export prices hit record highs at $12,996 per ton in December 2021; however, from January 2022 to December 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was Hong Kong SAR ($24,224 per ton), while the average price for exports to the United States ($6,483 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+1.1%), while the prices for the other major destinations experienced a decline.

Price for Mollusc Preparations; Oysters, Prepared or Preserved in South Korea (CIF) - 2022

The average import price for mollusc preparations; oysters, prepared or preserveds stood at $7,324 per ton in 2022, reducing by -20.3% against the previous year. Over the period under review, the import price recorded a pronounced decrease. The pace of growth appeared the most rapid in 2021 an increase of 148%. Over the period under review, average import prices hit record highs at $10,152 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($21,212 per ton), while the price for China ($4,337 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+101.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Mollusc Preparations; Oysters, Prepared or Preserved in South Korea

In 2022, the amount of mollusc preparations; oysters, prepared or preserveds exported from South Korea rose notably to 3.1K tons, growing by 12% compared with the year before. The total export volume increased at an average annual rate of +4.4% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of mollusc preparations; oysters, prepared or preserveds stood at $33M in 2022. The total export value increased at an average annual rate of +9.6% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 13% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Mollusc Preparations; Oysters, Prepared or Preserved from South Korea in 2022:

1. United States (1804.4 tons)
2. Japan (852.7 tons)
3. Hong Kong SAR (215.7 tons)
4. Singapore (94.6 tons)
5. Malaysia (69.4 tons)
6. Netherlands (38.3 tons)

Imports of Mollusc Preparations; Oysters, Prepared or Preserved in South Korea

After two years of decline, supplies from abroad of mollusc preparations; oysters, prepared or preserveds increased by 8.6% to 9.7 tons in 2022. In general, imports, however, saw a dramatic downturn.

In value terms, imports of mollusc preparations; oysters, prepared or preserveds dropped to $71K in 2022. Over the period under review, imports, however, showed a sharp curtailment.

Top Suppliers of Mollusc Preparations; Oysters, Prepared or Preserved to South Korea in 2022:

1. Thailand (5.9 tons)
2. China (3.4 tons)
3. United States (0.4 tons)

Source: IndexBox Market Intelligence Platform