Price for Cereals; Grain Sorghum, Other than Seed in South Korea - 2022
Contents:
- Price for Cereals; Grain Sorghum, Other than Seed in South Korea (CIF) - 2022
- Price for Cereals; Grain Sorghum, Other than Seed in South Korea (FOB) - 2022
- Imports of Cereals; Grain Sorghum, Other than Seed in South Korea
- Exports of Cereals; Grain Sorghum, Other than Seed in South Korea
Price for Cereals; Grain Sorghum, Other than Seed in South Korea (CIF) - 2022
In December 2022, the average import price for cereals; grain sorghum, other than seeds amounted to $1,090 per ton, surging by 13% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in August 2022 an increase of 1,256% month-to-month. As a result, import price reached the peak level of $8,857 per ton. From September 2022 to December 2022, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($10,294 per ton), while the price for China totaled $1,090 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+35.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Grain Sorghum, Other than Seed in South Korea (FOB) - 2022
The average export price for cereals; grain sorghum, other than seeds stood at $7,261 per ton in 2022, dropping by -17.3% against the previous year. Over the period under review, the export price, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2014 when the average export price increased by 151%. Over the period under review, the average export prices reached the peak figure at $9,511 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($9,735 per ton), while the average price for exports to Canada ($5,098 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 Japan (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereals; Grain Sorghum, Other than Seed in South Korea
In 2022, overseas purchases of cereals; grain sorghum, other than seeds decreased by -28.8% to 2.8K tons, falling for the second consecutive year after two years of growth. Overall, imports showed a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 23%. As a result, imports attained the peak of 5K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of cereals; grain sorghum, other than seeds reduced dramatically to $2.5M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +6.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 41%.
| Import of Cereals; Grain Sorghum, Other than Seed in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,434 | 2,248 | 1,828 | 1,977 | 11.3% |
| Ukraine | N/A | 63.8 | 747 | 299 | 116.5% |
| Australia | N/A | 26.3 | 74.6 | 117 | 110.9% |
| United States | 587 | 515 | 503 | 65.1 | -52.0% |
| Others | N/A | N/A | 2.0 | 1.6 | -20.0% |
| Total | 2,020 | 2,853 | 3,155 | 2,460 | 6.8% |
Top Suppliers of Cereals; Grain Sorghum, Other than Seed to South Korea in 2022:
- China (1862.3 tons)
- Ukraine (703.1 tons)
- Australia (181.6 tons)
- United States (100.0 tons)
Exports of Cereals; Grain Sorghum, Other than Seed in South Korea
In 2022, exports of cereals; grain sorghum, other than seeds from South Korea skyrocketed to 4.8 tons, rising by 22% on 2021. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 392% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of cereals; grain sorghum, other than seeds totaled $35K in 2022. In general, exports posted a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 273% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Cereals; Grain Sorghum, Other than Seed in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 6.2 | 17.9 | 20.8 | 22.2 | 53.0% |
| France | N/A | 0.5 | 0.5 | 5.5 | 231.7% |
| Canada | 0.9 | 3.7 | 6.2 | 4.2 | 67.1% |
| Australia | N/A | 2.5 | 2.2 | 0.9 | -40.0% |
| Vietnam | 0.6 | 0.9 | 0.5 | 0.7 | 5.3% |
| New Zealand | N/A | 0.7 | 0.7 | 0.7 | 0.0% |
| Others | N/A | 2.2 | 3.4 | 0.6 | -47.8% |
| Total | 7.6 | 28.4 | 34.3 | 34.7 | 65.9% |
Top Export Markets for Cereals; Grain Sorghum, Other than Seed from South Korea in 2022:
- United States (3017.0 kg)
- Canada (815.0 kg)
- France (565.0 kg)
- New Zealand (134.0 kg)
- Australia (118.0 kg)
- Vietnam (90.0 kg)
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