Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea - 2022

Contents:

1. Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea (CIF) - 2022
2. Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea (FOB) - 2022
3. Imports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea
4. Exports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea

Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea (CIF) - 2022

In 2022, the average import price for oils, essential; of orange (terpeneless or not), including concretes and absoluteses amounted to $15,277 per ton, jumping by 48% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for oils, essential; of orange (terpeneless or not), including concretes and absoluteses increased by +64.4% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($40,766 per ton), while the price for Spain ($7,428 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea (FOB) - 2022

In 2022, the average export price for oils, essential; of orange (terpeneless or not), including concretes and absoluteses amounted to $37,293 per ton, picking up by 333% against the previous year. Overall, the export price showed prominent growth. Over the period under review, the average export prices reached the peak figure at $40,375 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($91,667 per ton), while the average price for exports to China stood at $36,102 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+16.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea

In 2022, after three years of growth, there was significant decline in supplies from abroad of oils, essential; of orange (terpeneless or not), including concretes and absoluteses, when their volume decreased by -14.1% to 218 tons. The total import volume increased at an average annual rate of +8.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 27% against the previous year.

In value terms, imports of oils, essential; of orange (terpeneless or not), including concretes and absoluteses skyrocketed to $3.3M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +17.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Top Suppliers of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes to South Korea in 2022:

1. United States (99.6 tons)
2. Brazil (49.9 tons)
3. United Kingdom (24.1 tons)
4. Germany (22.2 tons)
5. Italy (8.0 tons)
6. Spain (6.0 tons)
7. Japan (2.9 tons)

Exports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in South Korea

In 2022, approx. 280 kg of oils, essential; of orange (terpeneless or not), including concretes and absoluteses were exported from South Korea; which is down by -98.1% on 2021 figures. Over the period under review, exports continue to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 2,598% against the previous year. As a result, the exports attained the peak of 15 tons, and then contracted remarkably in the following year.

In value terms, exports of oils, essential; of orange (terpeneless or not), including concretes and absoluteses contracted dramatically to $10K in 2022. Overall, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 2,161%. As a result, the exports attained the peak of $128K, and then fell markedly in the following year.

Top Export Markets for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes from South Korea in 2022:

1. China (274.0 kg)
2. Malaysia (6.0 kg)

Source: IndexBox Market Intelligence Platform