Price for Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea - 2022

Contents:

1. Price for Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea (CIF) - 2022
2. Price for Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea (FOB) - 2022
3. Imports of Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea
4. Exports of Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea

Price for Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea (CIF) - 2022

In December 2022, the average import price for seeds, fruit and spores; of a kind used for sowing amounted to $1,147 per ton, picking up by 53% against the previous month. Over the period under review, the import price, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in March 2022 when the average import price increased by 311% against the previous month. As a result, import price attained the peak level of $2,754 per ton. From April 2022 to December 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($11,296 per ton), while the price for Australia totaled $382 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.3%).

Price for Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea (FOB) - 2022

The average export price for seeds, fruit and spores; of a kind used for sowing stood at $105,645 per ton in 2022, rising by 13% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2015 an increase of 22%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 the United States ($223,263 per ton), while the average price for exports to Bangladesh ($35,271 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 Bangladesh (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea

Imports of seeds, fruit and spores; of a kind used for sowing into South Korea rose notably to 151K tons in 2022, growing by 8.7% against 2021 figures. The total import volume increased at an average annual rate of +8.9% over the period 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 with an increase of 14% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of seeds, fruit and spores; of a kind used for sowing expanded markedly to $194M in 2022. The total import value increased at an average annual rate of +9.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

Top Suppliers of Seeds, Fruit and Spores; of A Kind Used for Sowing to South Korea in 2022:

1. United States (109.0K tons)
2. China (15.1K tons)
3. Australia (6.8K tons)
4. New Zealand (6.5K tons)
5. Denmark (3.1K tons)
6. South Africa (2.9K tons)
7. Italy (2.5K tons)

Exports of Seeds, Fruit and Spores; of A Kind Used for Sowing in South Korea

Exports of seeds, fruit and spores; of a kind used for sowing from South Korea dropped remarkably to 505 tons in 2022, falling by -20.9% compared with the year before. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 5.2% against the previous year.

In value terms, exports of seeds, fruit and spores; of a kind used for sowing fell to $53M in 2022. Over the period under review, exports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2021 with an increase of 2.3%. As a result, the exports attained the peak of $60M, and then contracted in the following year.

Top Export Markets for Seeds, Fruit and Spores; of A Kind Used for Sowing from South Korea in 2022:

1. China (104.2 tons)
2. India (79.2 tons)
3. Japan (63.0 tons)
4. United States (36.5 tons)
5. Egypt (32.6 tons)
6. Bangladesh (31.5 tons)
7. Pakistan (25.7 tons)
8. Nepal (14.3 tons)
9. Philippines (14.1 tons)
10. Sri Lanka (11.2 tons)
11. Vietnam (10.2 tons)
12. Australia (7.8 tons)

Source: IndexBox Market Intelligence Platform