Price for Spices; Nutmeg, Crushed or Ground in South Korea - 2022
Contents:
- Price for Spices; Nutmeg, Crushed or Ground in South Korea (CIF) - 2022
- Price for Spices; Nutmeg, Crushed or Ground in South Korea (FOB) - 2022
- Imports of Spices; Nutmeg, Crushed or Ground in South Korea
- Exports of Spices; Nutmeg, Crushed or Ground in South Korea
Price for Spices; Nutmeg, Crushed or Ground in South Korea (CIF) - 2022
The average import price for spices; nutmeg, crushed or ground stood at $12,398 per ton in 2022, waning by -1.8% against the previous year. In general, the import price saw a pronounced descent. The pace of growth was the most pronounced in 2021 an increase of 6.9%. Over the period under review, average import prices reached the peak figure at $16,446 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($13,124 per ton), while the price for India ($7,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-0.6%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Nutmeg, Crushed or Ground in South Korea (FOB) - 2022
The average export price for spices; nutmeg, crushed or ground stood at $8,659 per ton in 2022, almost unchanged from the previous year. Overall, the export price recorded a slight slump. The pace of growth was the most pronounced in 2015 when the average export price increased by 79%. As a result, the export price reached the peak level of $12,400 per ton. From 2016 to 2022, the average export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for India.
From 2012 to 2022, the rate of growth in terms of prices for India amounted to -1.5% per year.
Imports of Spices; Nutmeg, Crushed or Ground in South Korea
In 2022, spices; nutmeg, crushed or ground imports into South Korea skyrocketed to 58 tons, with an increase of 18% on 2021 figures. In general, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +13.8% 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 +58.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 34% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, spices; nutmeg, crushed or ground imports skyrocketed to $717K in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +17.5% 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 +66.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 44% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Spices; Nutmeg, Crushed or Ground in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 346 | 282 | 195 | 437 | 8.1% |
| Indonesia | 66.8 | 87.5 | 88.9 | 181 | 39.4% |
| Vietnam | 2.1 | 7.2 | 6.3 | 80.5 | 237.2% |
| Others | 27.1 | 55.5 | 329 | 19.2 | -10.9% |
| Total | 442 | 432 | 620 | 717 | 17.5% |
Top Suppliers of Spices; Nutmeg, Crushed or Ground to South Korea in 2022:
- Malaysia (34.8 tons)
- Indonesia (13.8 tons)
- Vietnam (9.1 tons)
Exports of Spices; Nutmeg, Crushed or Ground in South Korea
In 2022, after three years of growth, there was decline in overseas shipments of spices; nutmeg, crushed or ground, when their volume decreased by -3.4% to 11 tons. The total export volume increased at an average annual rate of +3.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 7.7%.
In value terms, spices; nutmeg, crushed or ground exports declined to $97K in 2022. The total export value increased at an average annual rate of +3.9% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 8.2% against the previous year.
| Export of Spices; Nutmeg, Crushed or Ground in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 86.0 | 93.1 | 100 | 96.7 | 4.0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 86.0 | 93.1 | 100 | 96.7 | 4.0% |
Top Export Markets for Spices; Nutmeg, Crushed or Ground from South Korea in 2022:
- India (11.2 tons)
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Republic of Korea.
4099
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3876
In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
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In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
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Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
3876
In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
8559
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
3993
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
