Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea - 2022
Contents:
- Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea (CIF) - 2022
- Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea (FOB) - 2022
- Imports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea
- Exports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea
Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea (CIF) - 2022
The average import price for offal, edible; of bovine animals, (other than tongues and livers), frozens stood at $7,301 per ton in December 2022, therefore, remained relatively stable against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 9.1% month-to-month. Over the period under review, average import prices attained the peak figure at $7,957 per ton in May 2022; however, from June 2022 to December 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Canada ($12,811 per ton), while the price for Mexico ($2,737 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 Chile (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea (FOB) - 2022
The average export price for offal, edible; of bovine animals, (other than tongues and livers), frozens stood at $8,163 per ton in 2022, jumping by 246% against the previous year. Over the period under review, the export price enjoyed a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Iraq.
From 2012 to 2022, the rate of growth in terms of prices for Iraq amounted to +17.7% per year.
Imports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea
For the third consecutive year, South Korea recorded decline in overseas purchases of offal, edible; of bovine animals, (other than tongues and livers), frozens, which decreased by -9.7% to 25K tons in 2022. Overall, imports showed a deep contraction. The smallest decline of -1.6% was in 2020.
In value terms, imports of offal, edible; of bovine animals, (other than tongues and livers), frozens expanded markedly to $188M in 2022. The total import value increased at an average annual rate of +8.3% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 81.7 | 89.8 | 98.2 | 113 | 11.4% |
| United States | 46.5 | 43.9 | 36.8 | 38.2 | -6.3% |
| New Zealand | 16.8 | 18.8 | 24.7 | 28.6 | 19.4% |
| Mexico | 0.6 | 1.1 | 2.2 | 2.6 | 63.0% |
| Others | 2.2 | 3.0 | 3.2 | 5.7 | 37.3% |
| Total | 148 | 157 | 165 | 188 | 8.3% |
Top Suppliers of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen to South Korea in 2022:
- Australia (14.6K tons)
- New Zealand (4.9K tons)
- United States (4.3K tons)
- Mexico (0.8K tons)
Exports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea
In 2022, approx. 1.8 tons of offal, edible; of bovine animals, (other than tongues and livers), frozens were exported from South Korea; falling by -91.3% compared with the previous year. In general, exports showed a sharp shrinkage. The smallest decline of -16.3% was in 2020.
In value terms, exports of offal, edible; of bovine animals, (other than tongues and livers), frozens declined rapidly to $14K in 2022. Over the period under review, exports faced a precipitous setback. The smallest decline of -24.3% was in 2020.
| Export of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iraq | 34.4 | 2.5 | 4.5 | 14.4 | -25.2% |
| Hong Kong SAR | 26.5 | 33.1 | 23.4 | N/A | -6.0% |
| United States | N/A | N/A | 16.5 | N/A | 0% |
| Lao People's Democratic Republic | 31.6 | 34.5 | N/A | N/A | 9.2% |
| Others | 0.4 | 0.2 | 3.2 | N/A | 182.8% |
| Total | 92.8 | 70.2 | 47.7 | 14.4 | -46.3% |
Top Export Markets for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen from South Korea in 2022:
- Iraq (1.8 tons)
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