Gum Arabic Price in South Korea - 2022

Contents:

1. Gum Arabic Price in South Korea (CIF) - 2022
2. Gum Arabic Price in South Korea (FOB) - 2022
3. Gum Arabic Imports in South Korea
4. Gum Arabic Exports in South Korea

Gum Arabic Price in South Korea (CIF) - 2022

The average gum arabic import price stood at $3,236 per ton in 2022, which is down by -10.1% against the previous year. Over the period under review, the import price continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. Over the period under review, average import prices hit record highs at $4,038 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($3,434 per ton) and France ($3,231 per ton), while the price for Sudan ($2,671 per ton) and Germany ($2,841 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sudan (+0.4%), while the prices for the other major suppliers experienced a decline.

Gum Arabic Price in South Korea (FOB) - 2022

In 2022, the average gum arabic export price amounted to $7,829 per ton, increasing by 7.3% against the previous year. In general, the export price continues to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2020 an increase of 74% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($7,879 per ton), while the average price for exports to the United States ($7,636 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 (+58.9%), while the prices for the other major destinations experienced more modest paces of growth.

Gum Arabic Imports in South Korea

In 2022, gum arabic imports into South Korea declined slightly to 1.3K tons, waning by -2.9% compared with 2021. The total import volume increased at an average annual rate of +2.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. As a result, imports reached the peak of 1.3K tons, and then declined slightly in the following year.

In value terms, gum arabic imports reduced to $4.2M in 2022. The total import value increased at an average annual rate of +2.4% over the period 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 when imports increased by 34%. As a result, imports attained the peak of $4.8M, and then declined in the following year.

Top Suppliers of Gum Arabic to South Korea in 2022:

1. France (1015.4 tons)
2. United Kingdom (102.3 tons)
3. United States (83.5 tons)
4. Sudan (67.7 tons)
5. Germany (25.6 tons)

Gum Arabic Exports in South Korea

In 2022, the amount of gum arabics exported from South Korea shrank dramatically to 3.8 tons, with a decrease of -50.9% against 2021. In general, exports recorded a sharp descent. The pace of growth appeared the most rapid in 2021 when exports increased by 1,669% against the previous year.

In value terms, gum arabic exports contracted notably to $30K in 2022. Over the period under review, exports continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 1,788% against the previous year.

Top Export Markets for Gum Arabic from South Korea in 2022:

1. China (2901.0 kg)
2. United States (715.0 kg)
3. Thailand (144.0 kg)

Source: IndexBox Market Intelligence Platform