Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea - 2022
Contents:
- Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea (CIF) - 2022
- Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea (FOB) - 2022
- Imports of Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea
- Exports of Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea
Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea (CIF) - 2022
In December 2022, the average import price for offal, edible; of bovine animals, fresh or chilleds amounted to $12,060 per ton, therefore, remained relatively stable against the previous month. Over the period under review, the import price showed a slight decrease. The growth pace was the most rapid in May 2022 when the average import price increased by 2.2% m-o-m. Over the period under review, average import prices hit record highs at $14,770 per ton in December 2021; however, from January 2022 to December 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Australia ($12,228 per ton), while the price for the United States stood at $12,011 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Australia (-0.6%).
Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea (FOB) - 2022
In 2022, the average export price for offal, edible; of bovine animals, fresh or chilleds amounted to $73,024 per ton, declining by -11.7% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 21%. As a result, the export price attained the peak level of $82,706 per ton, and then shrank in the following year.
As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.
From 2016 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to +0.5% per year.
Imports of Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea
In 2022, overseas purchases of offal, edible; of bovine animals, fresh or chilleds decreased by -7.1% to 5.2K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 23%. As a result, imports reached the peak of 6K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of offal, edible; of bovine animals, fresh or chilleds fell to $67M in 2022. The total import value increased at an average annual rate of +8.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 20%.
| Import of Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 33.5 | 39.2 | 41.9 | 45.1 | 10.4% |
| Australia | 18.8 | 24.1 | 26.0 | 21.6 | 4.7% |
| Ireland | 0.1 | 0.1 | 0.1 | N/A | 0.0% |
| Others | 0.6 | 0.2 | 0.3 | 0.1 | -45.0% |
| Total | 52.9 | 63.5 | 68.2 | 66.8 | 8.1% |
Top Suppliers of Offal, Edible; of Bovine Animals, Fresh or Chilled to South Korea in 2022:
- United States (3.5K tons)
- Australia (1.6K tons)
Exports of Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea
In 2022, after two years of decline, there was significant growth in overseas shipments of offal, edible; of bovine animals, fresh or chilleds, when their volume increased by 49% to 1.8 tons. In general, exports, however, showed a dramatic slump.
In value terms, exports of offal, edible; of bovine animals, fresh or chilleds soared to $130K in 2022. Overall, exports, however, recorded a significant decrease.
| Export of Offal, Edible; of Bovine Animals, Fresh or Chilled in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 384 | 161 | 98.3 | 130 | -30.3% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 384 | 161 | 98.3 | 130 | -30.3% |
Top Export Markets for Offal, Edible; of Bovine Animals, Fresh or Chilled from South Korea in 2022:
- Hong Kong SAR (1.8 tons)
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