Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea - 2022

Contents:

1. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea (CIF) - 2022
2. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea (FOB) - 2022
3. Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea
4. Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea (CIF) - 2022

The average import price for powdered sweetened milk and cream of fat weight content over 1.5% stood at $8,656 per ton in 2022, shrinking by -5.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 44% against the previous year. Over the period under review, average import prices attained the maximum at $9,173 per ton in 2021, and then fell in the following year.

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 the UK ($15,263 per ton), while the price for Oman ($4,154 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 (+23.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea (FOB) - 2022

The average export price for powdered sweetened milk and cream of fat weight content over 1.5% stood at $4,210 per ton in 2022, which is down by -24.1% against the previous year. Over the period under review, the export price saw a noticeable decline. The pace of growth appeared the most rapid in 2014 when the average export price increased by 91%. Over the period under review, the average export prices hit record highs at $7,925 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($11,386 per ton), while the average price for exports to Mongolia ($566 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (+69.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea

In 2022, supplies from abroad of powdered sweetened milk and cream of fat weight content over 1.5% increased by 3.3% to 158 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a abrupt slump.

In value terms, imports of powdered sweetened milk and cream of fat weight content over 1.5% declined slightly to $1.4M in 2022. Over the period under review, imports, however, showed a perceptible decrease.

Top Suppliers of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% to South Korea in 2022:

1. New Zealand (86.9 tons)
2. Australia (63.4 tons)
3. Oman (3.1 tons)
4. United Kingdom (2.5 tons)

Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in South Korea

In 2022, after three years of growth, there was significant decline in shipments abroad of powdered sweetened milk and cream of fat weight content over 1.5%, when their volume decreased by -76.7% to 12 tons. Over the period under review, exports, however, recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by 325%.

In value terms, exports of powdered sweetened milk and cream of fat weight content over 1.5% fell sharply to $49K in 2022. In general, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 408% against the previous year.

Top Export Markets for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% from South Korea in 2022:

1. Myanmar (6.0 tons)
2. China (2.1 tons)
3. Vietnam (0.4 tons)
4. Mongolia (0.2 tons)
5. Malaysia (0.2 tons)

Source: IndexBox Market Intelligence Platform