Price for Flours and Meals; of Soya Beans in South Korea - 2022

Contents:

1. Price for Flours and Meals; of Soya Beans in South Korea (CIF) - 2022
2. Price for Flours and Meals; of Soya Beans in South Korea (FOB) - 2022
3. Imports of Flours and Meals; of Soya Beans in South Korea
4. Exports of Flours and Meals; of Soya Beans in South Korea

Price for Flours and Meals; of Soya Beans in South Korea (CIF) - 2022

The average import price for flours and meals; of soya beanses stood at $1,037 per ton in December 2022, shrinking by -3.3% against the previous month. Over the period under review, the import price saw a mild shrinkage. The most prominent rate of growth was recorded in October 2022 when the average import price increased by 16% against the previous month. Over the period under review, average import prices hit record highs at $1,323 per ton in July 2022; however, from August 2022 to December 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In December 2022, the country with the highest price was China ($1,352 per ton), while the price for India amounted to $950 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+0.8%).

Price for Flours and Meals; of Soya Beans in South Korea (FOB) - 2022

The average export price for flours and meals; of soya beanses stood at $3,765 per ton in 2022, surging by 21% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 44% against the previous year. Over the period under review, the average export prices reached the maximum at $5,397 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($7,791 per ton), while the average price for exports to Germany ($1,967 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 New Zealand (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours and Meals; of Soya Beans in South Korea

Imports of flours and meals; of soya beanses into South Korea dropped to 10K tons in 2022, reducing by -7.8% on 2021. Overall, imports faced a abrupt curtailment.

In value terms, imports of flours and meals; of soya beanses rose markedly to $12M in 2022. In general, imports continue to indicate a slight downturn.

Top Suppliers of Flours and Meals; of Soya Beans to South Korea in 2022:

1. India (7.4K tons)
2. China (3.0K tons)

Exports of Flours and Meals; of Soya Beans in South Korea

In 2022, exports of flours and meals; of soya beanses from South Korea skyrocketed to 16 tons, jumping by 44% compared with 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 257% against the previous year. As a result, the exports attained the peak of 18 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of flours and meals; of soya beanses soared to $62K in 2022. In general, exports showed a significant increase. The growth pace was the most rapid in 2020 when exports increased by 108% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Flours and Meals; of Soya Beans from South Korea in 2022:

1. United States (8.0 tons)
2. Germany (3.3 tons)
3. Taiwan (Chinese) (1.6 tons)
4. New Zealand (1.5 tons)
5. Vietnam (0.9 tons)
6. Australia (0.7 tons)
7. Canada (0.4 tons)

Source: IndexBox Market Intelligence Platform