Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea - 2022

Contents:

1. Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea (CIF) - 2022
2. Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea (FOB) - 2022
3. Imports of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea
4. Exports of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea

Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea (CIF) - 2022

The average import price for fish; edible offal, other than shark fins, fish heads, tails and mawses stood at $5,655 per ton in December 2022, falling by -14.7% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2022 when the average import price increased by 104% against the previous month. As a result, import price attained the peak level of $7,534 per ton. From August 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 China ($7,373 per ton), while the price for Vietnam ($4,195 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Russia (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea (FOB) - 2022

The average export price for fish; edible offal, other than shark fins, fish heads, tails and mawses stood at $12,863 per ton in 2022, rising by 1.8% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2014 an increase of 24% against the previous year. Over the period under review, the average export prices hit record highs at $14,025 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($19,558 per ton), while the average price for exports to the United States ($12,487 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 Iraq (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea

After three years of growth, purchases abroad of fish; edible offal, other than shark fins, fish heads, tails and mawses decreased by -61.5% to 320 tons in 2022. Overall, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by 77% against the previous year.

In value terms, imports of fish; edible offal, other than shark fins, fish heads, tails and mawses shrank markedly to $1.5M in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 44% against the previous year.

Top Suppliers of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws to South Korea in 2022:

1. Russia (192.7 tons)
2. China (73.9 tons)
3. Vietnam (44.7 tons)
4. Thailand (8.9 tons)

Exports of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in South Korea

In 2022, shipments abroad of fish; edible offal, other than shark fins, fish heads, tails and mawses decreased by -14.2% to 49 tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a pronounced contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 22%. As a result, the exports attained the peak of 65 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of fish; edible offal, other than shark fins, fish heads, tails and mawses declined to $628K in 2022. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 42% against the previous year. As a result, the exports reached the peak of $915K. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws from South Korea in 2022:

1. United States (43.4 tons)
2. Australia (2.0 tons)
3. China (1.6 tons)
4. Iraq (1.1 tons)

Source: IndexBox Market Intelligence Platform