Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea - 2022

Contents:

1. Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea (CIF) - 2022
2. Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea (FOB) - 2022
3. Imports of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea
4. Exports of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea

Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea (CIF) - 2022

The average import price for ground-nuts; other than seed, not roasted or otherwise cooked, in shell stood at $1,361 per ton in 2022, with a decrease of -5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2020 an increase of 23% against the previous year. As a result, import price attained the peak level of $1,466 per ton. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Myanmar ($5,219 per ton), while the price for China totaled $1,074 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+10.9%), while the prices for the other major suppliers experienced a decline.

Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea (FOB) - 2022

The average export price for ground-nuts; other than seed, not roasted or otherwise cooked, in shell stood at $2,515 per ton in 2022, which is down by -27.1% against the previous year. Overall, the export price, however, posted a resilient increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 323% against the previous year. Over the period under review, the average export prices attained the peak figure at $6,200 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($3,115 per ton), while the average price for exports to Singapore amounted to $320 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mongolia (+9.6%).

Imports of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea

In 2022, overseas purchases of ground-nuts; other than seed, not roasted or otherwise cooked, in shell decreased by -26.7% to 87 tons, falling for the second year in a row after two years of growth. Overall, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2020 when imports increased by 51% against the previous year. As a result, imports reached the peak of 178 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of ground-nuts; other than seed, not roasted or otherwise cooked, in shell reduced dramatically to $119K in 2022. Over the period under review, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 85% against the previous year. As a result, imports attained the peak of $261K. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell to South Korea in 2022:

1. China (81.4 tons)
2. Myanmar (6.0 tons)

Exports of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in South Korea

For the fourth consecutive year, South Korea recorded growth in overseas shipments of ground-nuts; other than seed, not roasted or otherwise cooked, in shell, which increased by 97% to 233 kg in 2022. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 131%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, exports of ground-nuts; other than seed, not roasted or otherwise cooked, in shell soared to $586 in 2022. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 79% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell from South Korea in 2022:

1. Guatemala (183.0 kg)
2. Singapore (50.0 kg)

Source: IndexBox Market Intelligence Platform