Price for Cereals; Millet, Other than Seed in South Korea - 2022
Contents:
- Price for Cereals; Millet, Other than Seed in South Korea (CIF) - 2022
- Price for Cereals; Millet, Other than Seed in South Korea (FOB) - 2022
- Imports of Cereals; Millet, Other than Seed in South Korea
- Exports of Cereals; Millet, Other than Seed in South Korea
Price for Cereals; Millet, Other than Seed in South Korea (CIF) - 2022
In 2022, the average import price for cereals; millet, other than seeds amounted to $850 per ton, increasing by 5.9% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The growth pace was the most rapid in 2014 when the average import price increased by 28% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($1,055 per ton), while the price for Ukraine ($539 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Millet, Other than Seed in South Korea (FOB) - 2022
In 2022, the average export price for cereals; millet, other than seeds amounted to $7,622 per ton, declining by -20.7% against the previous year. Over the period under review, the export price, however, enjoyed significant growth. The growth pace was the most rapid in 2013 when the average export price increased by 237%. Over the period under review, the average export prices hit record highs at $9,612 per ton in 2021, and then shrank markedly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($11,629 per ton), while the average price for exports to the United Arab Emirates ($4,092 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 China (+71.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereals; Millet, Other than Seed in South Korea
In 2022, purchases abroad of cereals; millet, other than seeds decreased by -19.2% to 10K tons, falling for the second year in a row after two years of growth. Overall, imports showed a pronounced slump. The growth pace was the most rapid in 2020 when imports increased by 14% against the previous year. As a result, imports reached the peak of 14K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, cereals; millet, other than seed imports fell to $8.9M in 2022. The total import value increased at an average annual rate of +4.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 39%. As a result, imports attained the peak of $11M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Cereals; Millet, Other than Seed in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.5 | 8.8 | 7.2 | 5.9 | -3.2% |
| Ukraine | N/A | 0.5 | 2.0 | 1.6 | 78.9% |
| United States | 1.2 | 1.5 | 0.7 | 0.9 | -9.1% |
| Australia | N/A | N/A | 0.2 | 0.3 | 50.0% |
| India | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Others | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Total | 7.8 | 10.9 | 10.4 | 8.9 | 4.5% |
Top Suppliers of Cereals; Millet, Other than Seed to South Korea in 2022:
- China (5.6K tons)
- Ukraine (2.9K tons)
- United States (1.1K tons)
- Australia (0.4K tons)
- India (0.3K tons)
Exports of Cereals; Millet, Other than Seed in South Korea
Cereals; millet, other than seed exports from South Korea skyrocketed to 5 tons in 2022, jumping by 26% on the previous year. Overall, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 110%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, cereals; millet, other than seed exports reached $38K in 2022. Over the period under review, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 254%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.
| Export of Cereals; Millet, Other than Seed in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 8.2 | 7.4 | 30.7 | 24.8 | 44.6% |
| United Arab Emirates | 0.8 | N/A | N/A | 7.0 | 106.1% |
| Canada | 4.9 | 3.2 | 2.4 | 3.8 | -8.1% |
| United Kingdom | N/A | N/A | N/A | 1.1 | 0% |
| Japan | 10.8 | N/A | 0.6 | 1.1 | -53.3% |
| Others | N/A | 0.2 | 4.6 | 0.5 | 58.1% |
| Total | 24.6 | 10.8 | 38.3 | 38.3 | 15.9% |
Top Export Markets for Cereals; Millet, Other than Seed from South Korea in 2022:
- United States (2129.0 kg)
- United Arab Emirates (1716.0 kg)
- Canada (800.0 kg)
- United Kingdom (217.0 kg)
- Japan (103.0 kg)
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