Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea - 2022
Contents:
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea (CIF) - 2022
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea (FOB) - 2022
- Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea
- Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea (CIF) - 2022
In 2022, the average import price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $2,279 per ton, approximately reflecting the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 31%. The import price peaked at $2,363 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
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 France ($3,654 per ton), while the price for Canada ($2,113 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+1.3%), while the prices for the other major suppliers experienced a decline.
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea (FOB) - 2022
The average export price for refined cane or beet sugar (with added flavoring or coloring matter) stood at $1,132 per ton in 2022, surging by 5.3% against the previous year. Over the period under review, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of 41% against the previous year. Over the period under review, the average export prices attained the peak figure at $2,945 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($6,884 per ton), while the average price for exports to Hong Kong SAR ($1,014 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 the United States (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea
In 2022, purchases abroad of refined cane or beet sugar (with added flavoring or coloring matter) increased by 108% to 602 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a abrupt decline.
In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) skyrocketed to $1.4M in 2022. Over the period under review, imports, however, showed a perceptible shrinkage.
| Import of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 222 | 334 | 382 | 617 | 40.6% |
| United States | 1,163 | 480 | 103 | 595 | -20.0% |
| Japan | 30.1 | 50.2 | 94.2 | 83.7 | 40.6% |
| France | 144 | 31.8 | 66.9 | 52.6 | -28.5% |
| Others | 35.5 | 13.3 | 13.2 | 23.7 | -12.6% |
| Total | 1,595 | 909 | 659 | 1,372 | -4.9% |
Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to South Korea in 2022:
- Canada (292.0 tons)
- United States (258.9 tons)
- Japan (30.1 tons)
- France (14.4 tons)
Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea
In 2022, after three years of growth, there was significant decline in shipments abroad of refined cane or beet sugar (with added flavoring or coloring matter), when their volume decreased by -11.8% to 404 tons. The total export volume increased at an average annual rate of +7.3% 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 when exports increased by 37%.
In value terms, exports of refined cane or beet sugar (with added flavoring or coloring matter) contracted to $458K in 2022. The total export value increased at an average annual rate of +5.0% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 14%.
| Export of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 116 | 200 | 291 | 238 | 27.1% |
| Vietnam | 179 | 225 | 159 | 163 | -3.1% |
| China | 0.1 | N/A | 18.9 | 35.7 | 609.4% |
| Others | 101 | 25.5 | 24.5 | 21.3 | -40.5% |
| Total | 396 | 450 | 493 | 458 | 5.0% |
Top Export Markets for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) from South Korea in 2022:
- Hong Kong SAR (234.6 tons)
- Vietnam (155.7 tons)
- China (8.4 tons)
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