Starches; Inulin Price in South Korea - 2022
Contents:
- Starches; Inulin Price in South Korea (CIF) - 2022
- Starches; Inulin Price in South Korea (FOB) - 2022
- Starches; Inulin Imports in South Korea
- Starches; Inulin Exports in South Korea
Starches; Inulin Price in South Korea (CIF) - 2022
The average starches; inulin import price stood at $854 per ton in December 2022, rising by 2% against the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 when the average import price increased by 6.6% month-to-month. Over the period under review, average import prices hit record highs in December 2022.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was China ($1,290 per ton), while the price for India ($499 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Hungary (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Starches; Inulin Price in South Korea (FOB) - 2022
The average starches; inulin export price stood at $623 per ton in December 2022, remaining constant against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in May 2022 an increase of 12% month-to-month. The export price peaked at $675 per ton in August 2022; however, from September 2022 to December 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was Bangladesh ($922 per ton), while the average price for exports to Taiwan (Chinese) ($545 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.
Starches; Inulin Imports in South Korea
For the fourth consecutive year, South Korea recorded growth in purchases abroad of starches; inulins, which increased by 17% to 192K tons in 2022. The total import volume increased at an average annual rate of +9.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, starches; inulin imports surged to $150M in 2022. The total import value increased at an average annual rate of +9.7% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Starches; Inulin in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 32.1 | 28.4 | 30.0 | 33.6 | 1.5% |
| Germany | 31.1 | 36.6 | 33.7 | 30.9 | -0.2% |
| Denmark | 12.4 | 19.1 | 16.8 | 21.5 | 20.1% |
| Poland | 14.7 | 12.5 | 17.0 | 18.4 | 7.8% |
| Thailand | 4.0 | 4.5 | 5.0 | 17.8 | 64.5% |
| India | 1.1 | 0.6 | 2.3 | 5.2 | 67.8% |
| Hungary | N/A | 0.6 | 1.0 | 4.5 | 173.9% |
| Italy | 2.2 | 2.3 | 2.2 | 3.2 | 13.3% |
| Lithuania | 3.4 | 1.3 | 1.6 | 1.2 | -29.3% |
| Others | 12.3 | 12.0 | 8.7 | 13.4 | 2.9% |
| Total | 113 | 118 | 118 | 150 | 9.9% |
Top Suppliers of Starches; Inulin to South Korea in 2022:
- Germany (41.0K tons)
- Thailand (32.0K tons)
- China (29.0K tons)
- Denmark (28.4K tons)
- Poland (22.7K tons)
- India (9.5K tons)
- Hungary (5.8K tons)
- Italy (3.7K tons)
- Lithuania (1.6K tons)
Starches; Inulin Exports in South Korea
After three years of growth, overseas shipments of starches; inulins decreased by -18.3% to 34K tons in 2022. In general, exports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2020 with an increase of 6.2% against the previous year.
In value terms, starches; inulin exports totaled $20M in 2022. The total export value increased at an average annual rate of +5.5% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 14%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.
| Export of Starches; Inulin in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 9.0 | 8.0 | 8.6 | 8.6 | -1.5% |
| Taiwan (Chinese) | 1.6 | 2.7 | 4.1 | 5.5 | 50.9% |
| Indonesia | 1.3 | 1.0 | 1.3 | 1.7 | 9.4% |
| Singapore | 0.7 | 0.8 | 1.0 | 1.0 | 12.6% |
| Vietnam | 1.0 | 2.3 | 1.4 | 1.0 | 0.0% |
| Hong Kong SAR | 0.6 | 0.5 | 0.7 | 1.0 | 18.6% |
| Bangladesh | 1.2 | 0.7 | 0.8 | 0.5 | -25.3% |
| Others | 2.0 | 1.9 | 2.6 | 1.0 | -20.6% |
| Total | 17.4 | 17.9 | 20.4 | 20.5 | 5.6% |
Top Export Markets for Starches; Inulin from South Korea in 2022:
- Malaysia (15.2K tons)
- Taiwan (Chinese) (9.9K tons)
- Indonesia (2.8K tons)
- Singapore (1.7K tons)
- Hong Kong SAR (1.6K tons)
- Vietnam (1.5K tons)
- Bangladesh (0.7K tons)
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