Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea - 2022

Contents:

1. Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea (CIF) - 2022
2. Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea (FOB) - 2022
3. Imports of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea
4. Exports of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea

Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea (CIF) - 2022

In December 2022, the average import price for enzymes; prepared enzymes not elsewhere specified or includeds amounted to $14,424 per ton, which is down by -4.4% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in June 2022 an increase of 57% month-to-month. Over the period under review, average import prices reached the peak figure at $20,067 per ton in February 2022; however, from March 2022 to December 2022, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($50,234 per ton), while the price for Singapore ($3,670 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 Finland (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea (FOB) - 2022

In 2022, the average export price for enzymes; prepared enzymes not elsewhere specified or includeds amounted to $10,706 per ton, surging by 29% against the previous year. Overall, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 39%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($36,985 per ton), while the average price for exports to Bangladesh ($2,567 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 the United Arab Emirates (+45.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea

Imports of enzymes; prepared enzymes not elsewhere specified or includeds into South Korea totaled 6.7K tons in 2022, picking up by 14% against 2021. The total import volume increased at an average annual rate of +7.8% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of enzymes; prepared enzymes not elsewhere specified or includeds totaled $99M in 2022. The total import value increased at an average annual rate of +11.9% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 21%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included to South Korea in 2022:

1. China (3512.7 tons)
2. Denmark (1018.6 tons)
3. United States (402.5 tons)
4. Singapore (370.3 tons)
5. Belgium (233.5 tons)
6. Finland (201.4 tons)
7. Lithuania (192.2 tons)
8. Canada (130.1 tons)
9. India (117.2 tons)
10. Japan (101.4 tons)
11. France (89.1 tons)

Exports of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in South Korea

In 2022, the amount of enzymes; prepared enzymes not elsewhere specified or includeds exported from South Korea was estimated at 2.1K tons, growing by 3.2% on the previous year. The total export volume increased at an average annual rate of +8.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of enzymes; prepared enzymes not elsewhere specified or includeds skyrocketed to $23M in 2022. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +14.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.0% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included from South Korea in 2022:

1. Mexico (763.2 tons)
2. Egypt (272.0 tons)
3. Indonesia (182.8 tons)
4. United Arab Emirates (145.0 tons)
5. Bangladesh (105.4 tons)
6. Guatemala (102.5 tons)
7. Malaysia (100.8 tons)
8. Germany (88.7 tons)
9. Peru (50.0 tons)
10. Philippines (40.9 tons)
11. Costa Rica (36.0 tons)
12. China (32.8 tons)
13. United Kingdom (3.0 tons)

Source: IndexBox Market Intelligence Platform