Price for Anise, Badian, Fennel and Coriander in South Korea - 2022

Contents:

1. Price for Anise, Badian, Fennel and Coriander in South Korea (CIF) - 2022
2. Price for Anise, Badian, Fennel and Coriander in South Korea (FOB) - 2022
3. Imports of Anise, Badian, Fennel and Coriander in South Korea
4. Exports of Anise, Badian, Fennel and Coriander in South Korea

Price for Anise, Badian, Fennel and Coriander in South Korea (CIF) - 2022

In 2022, the average import price for anise, badian, fennel and coriander amounted to $3,341 per ton, growing by 5.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 13% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($9,056 per ton), while the price for Morocco ($1,466 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Anise, Badian, Fennel and Coriander in South Korea (FOB) - 2022

The average export price for anise, badian, fennel and coriander stood at $1,242 per ton in 2022, declining by -52.3% against the previous year. Over the period under review, the export price showed a deep setback. The pace of growth was the most pronounced in 2017 when the average export price increased by 50% against the previous year. The export price peaked at $3,464 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($1,239 per ton), while the average price for exports to Mexico stood at $836 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+26.0%), while the prices for the other major destinations experienced a decline.

Imports of Anise, Badian, Fennel and Coriander in South Korea

Anise, badian, fennel and coriander imports into South Korea shrank remarkably to 1.1K tons in 2022, which is down by -21.4% against the year before. In general, imports saw a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 16%. As a result, imports attained the peak of 1.4K tons, and then declined markedly in the following year.

In value terms, anise, badian, fennel and coriander imports fell significantly to $3.6M in 2022. The total import value increased at an average annual rate of +4.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 31%. As a result, imports attained the peak of $4.4M, and then declined notably in the following year.

Top Suppliers of Anise, Badian, Fennel and Coriander to South Korea in 2022:

1. India (469.7 tons)
2. Morocco (305.0 tons)
3. Egypt (100.4 tons)
4. Vietnam (69.0 tons)
5. Turkey (50.7 tons)
6. China (40.4 tons)

Exports of Anise, Badian, Fennel and Coriander in South Korea

In 2022, approx. 28 tons of anise, badian, fennel and coriander were exported from South Korea; growing by 40% compared with the year before. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 10,155% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, anise, badian, fennel and coriander exports dropped sharply to $35K in 2022. In general, exports, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 11,912% against the previous year. As a result, the exports attained the peak of $52K, and then dropped rapidly in the following year.

Top Export Markets for Anise, Badian, Fennel and Coriander from South Korea in 2022:

1. Vietnam (26.6 tons)
2. Mexico (1.0 tons)

Source: IndexBox Market Intelligence Platform