Spices; Nutmeg Price in South Korea - 2022
Contents:
- Spices; Nutmeg Price in South Korea (FOB) - 2022
- Spices; Nutmeg Price in South Korea (CIF) - 2022
- Spices; Nutmeg Exports in South Korea
- Spices; Nutmeg Imports in South Korea
Spices; Nutmeg Price in South Korea (FOB) - 2022
The average spices; nutmeg export price stood at $171,647 per ton in 2022, rising by 17% against the previous year. In general, the export price continues to indicate significant growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 28%. The export price peaked in 2022 and is likely to see gradual growth in years to come.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($3,234,364 per ton), while the average price for exports to India stood at $127,780 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+64.5%).
Spices; Nutmeg Price in South Korea (CIF) - 2022
The average spices; nutmeg import price stood at $33,729 per ton in 2022, reducing by -6.6% against the previous year. Overall, the import price, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2018 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs at $36,101 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 India ($310,951 per ton), while the price for Malaysia ($16,070 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+29.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Nutmeg Exports in South Korea
Spices; nutmeg exports from South Korea shrank sharply to 2.3 tons in 2022, with a decrease of -21.3% against the previous year's figure. In general, exports showed a drastic downturn. The smallest decline of -7.8% was in 2020.
In value terms, spices; nutmeg exports declined to $401K in 2022. The total export value increased at an average annual rate of +8.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 18%. As a result, the exports attained the peak of $435K, and then declined in the following year.
| Export of Spices; Nutmeg in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 228 | 269 | 318 | 294 | 8.8% |
| Ecuador | 83.8 | 98.6 | 116 | 107 | 8.5% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 311 | 368 | 435 | 401 | 8.8% |
Top Export Markets for Spices; Nutmeg from South Korea in 2022:
- India (2.3 tons)
Spices; Nutmeg Imports in South Korea
In 2022, overseas purchases of spices; nutmeg were finally on the rise to reach 9.1 tons after two years of decline. In general, imports, however, saw a abrupt slump.
In value terms, spices; nutmeg imports expanded to $308K in 2022. Overall, imports, however, recorded a mild downturn.
| Import of Spices; Nutmeg in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 78.6 | 92.4 | 106 | 126 | 17.0% |
| Malaysia | 96.5 | 90.8 | 83.5 | 79.2 | -6.4% |
| Indonesia | 128 | 105 | 85.2 | 71.1 | -17.8% |
| Others | 22.1 | 24.9 | 27.7 | 31.8 | 12.9% |
| Total | 325 | 313 | 303 | 308 | -1.8% |
Top Suppliers of Spices; Nutmeg to South Korea in 2022:
- Malaysia (4.9 tons)
- Indonesia (3.7 tons)
- India (0.4 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Republic of Korea.
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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.
4003
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3784
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
8434
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.
3879
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,
3784
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
8434
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.
3879
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,
