Price for Tallow; Other than Those of Heading 1503 in South Korea - 2022
Contents:
- Price for Tallow; Other than Those of Heading 1503 in South Korea (FOB) - 2022
- Price for Tallow; Other than Those of Heading 1503 in South Korea (CIF) - 2022
- Exports of Tallow; Other than Those of Heading 1503 in South Korea
- Imports of Tallow; Other than Those of Heading 1503 in South Korea
Price for Tallow; Other than Those of Heading 1503 in South Korea (FOB) - 2022
The average export price for tallow; other than those of heading 1503s stood at $1,470 per ton in November 2022, almost unchanged from the previous month. Over the period under review, the export price continues to indicate a modest increase. The most prominent rate of growth was recorded in April 2022 an increase of 11% month-to-month. Over the period under review, the average export prices attained the maximum at $1,627 per ton in June 2022; however, from July 2022 to November 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Japan.
From November 2021 to November 2022, the rate of growth in terms of prices for Japan amounted to +1.0% per month.
Price for Tallow; Other than Those of Heading 1503 in South Korea (CIF) - 2022
In December 2022, the average import price for tallow; other than those of heading 1503s amounted to $1,930 per ton, stabilizing at the previous month. Over the last twelve months, it increased at an average monthly rate of +4.3%. The pace of growth was the most pronounced in January 2022 an increase of 42% against the previous month. Over the period under review, average import prices hit record highs at $1,970 per ton in July 2022; however, from August 2022 to December 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Australia.
From December 2021 to December 2022, the rate of growth in terms of prices for Australia amounted to +1.2% per month.
Exports of Tallow; Other than Those of Heading 1503 in South Korea
In 2022, the amount of tallow; other than those of heading 1503s exported from South Korea soared to 12K tons, jumping by 36% compared with the year before. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 196% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of tallow; other than those of heading 1503s soared to $19M in 2022. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 340% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the immediate term.
| Export of Tallow; Other than Those of Heading 1503 in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1.3 | 2.2 | 9.5 | 18.5 | 142.3% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 1.3 | 2.2 | 9.5 | 18.5 | 142.3% |
Top Export Markets for Tallow; Other than Those of Heading 1503 from South Korea in 2022:
- Japan (12.1K tons)
Imports of Tallow; Other than Those of Heading 1503 in South Korea
In 2022, imports of tallow; other than those of heading 1503s into South Korea dropped rapidly to 8.2K tons, reducing by -42.2% on 2021 figures. In general, imports faced a deep setback. The growth pace was the most rapid in 2021 when imports increased by 71% against the previous year. As a result, imports attained the peak of 14K tons, and then shrank rapidly in the following year.
In value terms, imports of tallow; other than those of heading 1503s reduced to $15M in 2022. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 118%. As a result, imports attained the peak of $16M, and then contracted in the following year.
| Import of Tallow; Other than Those of Heading 1503 in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 8.8 | 5.8 | 12.2 | 14.9 | 19.2% |
| Canada | N/A | 1.4 | 3.6 | N/A | 157.1% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 8.9 | 7.3 | 15.8 | 14.9 | 18.7% |
Top Suppliers of Tallow; Other than Those of Heading 1503 to South Korea in 2022:
- Australia (8.2K tons)
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