Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in South Korea - 2022
Contents:
- Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in South Korea (CIF) - 2022
- Imports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in South Korea
Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in South Korea (CIF) - 2022
In December 2022, the average import price for oil seeds; cotton seeds, other than seed, whether or not broken amounted to $391 per ton, with an increase of 6.3% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Greece ($410 per ton), while the price for Australia ($388 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 the United States (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in South Korea
In 2022, overseas purchases of oil seeds; cotton seeds, other than seed, whether or not broken decreased by -1.7% to 153K tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 6.4% against the previous year. As a result, imports reached the peak of 164K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of oil seeds; cotton seeds, other than seed, whether or not broken stood at $55M in 2022. Overall, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +13.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 27.6 | 29.3 | 25.9 | 28.4 | 1.0% |
| Australia | 7.3 | 8.6 | 22.7 | 23.8 | 48.3% |
| Brazil | 1.9 | 2.3 | 2.4 | 1.4 | -9.7% |
| Others | 1.4 | 0.7 | 1.0 | 1.6 | 4.6% |
| Total | 38.1 | 40.9 | 52.0 | 55.2 | 13.2% |
Top Suppliers of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken to South Korea in 2022:
- United States (80.8K tons)
- Australia (64.8K tons)
- Brazil (3.7K tons)
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