Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea - 2022

Contents:

1. Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea (FOB) - 2022
2. Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea (CIF) - 2022
3. Exports of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea
4. Imports of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea

Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea (FOB) - 2022

The average export price for cereal grains; rolled or flaked, of cereals excluding barley and oatses stood at $1,578 per ton in 2022, which is down by -9.8% against the previous year. Over the period under review, the export price, however, saw tangible growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 51% against the previous year. As a result, the export price reached the peak level of $2,847 per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($3,018 per ton), while the average price for exports to Canada ($729 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 Myanmar (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea (CIF) - 2022

In 2022, the average import price for cereal grains; rolled or flaked, of cereals excluding barley and oatses amounted to $1,067 per ton, dropping by -30.4% against the previous year. Overall, the import price saw a abrupt setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 172%. The import price peaked at $2,265 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($5,473 per ton), while the price for the United States stood at $961 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+42.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea

In 2022, shipments abroad of cereal grains; rolled or flaked, of cereals excluding barley and oatses decreased by -31.5% to 289 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 75%.

In value terms, exports of cereal grains; rolled or flaked, of cereals excluding barley and oatses contracted sharply to $456K in 2022. Over the period under review, exports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. As a result, the exports attained the peak of $738K, and then declined dramatically in the following year.

Top Export Markets for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats from South Korea in 2022:

1. Israel (116.1 tons)
2. United States (90.5 tons)
3. Australia (36.7 tons)
4. Canada (26.4 tons)
5. Netherlands (6.9 tons)

Imports of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in South Korea

In 2022, imports of cereal grains; rolled or flaked, of cereals excluding barley and oatses into South Korea surged to 110 tons, with an increase of 124% against the previous year's figure. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 1,044%. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of cereal grains; rolled or flaked, of cereals excluding barley and oatses soared to $117K in 2022. In general, imports posted a significant expansion. The growth pace was the most rapid in 2021 with an increase of 805%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats to South Korea in 2022:

1. United States (106.9 tons)
2. Poland (1.8 tons)

Source: IndexBox Market Intelligence Platform