What is the price of black tea per kilogram/pound in South Korea today?
The retail price range for South Korea black tea is between US$ 9.73 and US$ 32.13 per kilogram or between US$ 4.41 and US$ 14.57 per pound(lb). Click here to see today's exact prices of black tea in South Korea
The retail price range in South Korean won for black tea is between KRW 12,971.02 and KRW 42,834.22 per kilogram or between KRW 5,882.55 and KRW 19,425.95 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2024, the approximate wholesale price range for South Korea black tea is between US$ 6.81 and US$ 22.49 per kilogram or between US$ 3.09 and US$ 10.20 per pound(lb).
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South Korea Black Tea Export Prices - Historical, Trends and Prediction
The export price per kilogram of Black Tea from South Korea has seen a steady increase over the last five years. In 2017, the price was 5.33 US $ per kg, and in 2021 it was 39.6 US $ per kg. The highest price was seen in 2021, with a significant jump of 28.04 US $ per kg from the previous year. The price in 2020 was 7.04 US $ per kg, and in 2019 it was 10.93 US $ per kg. In 2018, the price was 7.66 US $ per kg, and in 2016 it was 6.56 US $ per kg. The lowest price was seen in 2013, with a price of 7.1 US $ per kg. Based on this data, it is predicted that the export price per kilogram of Black Tea from South Korea will be around 32.00 US $ per kg in 2023 and 34.00 US $ per kg in 2024.The exports of black tea from South Korea are classified as:
- Black fermented tea and partly fermented tea, whether or not flavoured, in immediate packings of > 3 kg (HS code 090240)
- Black fermented tea and partly fermented tea, whether or not flavoured, in immediate packings of <= 3 kg (HS code 090230)
South Korea Black Tea Import Prices - Historical, Trends and Prediction
The import price per kilogram of Black Tea into South Korea has seen a steady increase over the last five years. In 2017, the price was 5.33 US dollars per kg, and this increased to 7.66 US dollars per kg in 2018. In 2019, the price rose to 10.93 US dollars per kg, before dropping to 7.04 US dollars per kg in 2020. 2021 saw a dramatic increase to 39.6 US dollars per kg, before dropping back to 28.04 US dollars per kg in 2022. Based on this data, it is likely that the import price per kilogram of Black Tea into South Korea will remain relatively stable in the next two years. We predict that the price in 2023 will be around 28.04 US dollars per kg, and in 2024 it will be around 28.50 US dollars per kg.Export values for South Korea black tea
The total values in export for black tea in South Korea were US$ 1,338, US$ 1,695, US$ 1,669 and US$ 2,219 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in South Korea: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Yerba mate.
See prices of black tea in other countries across Asia: Kazakhstan black tea, Kyrgyzstan black tea, Tajikistan black tea, Turkmenistan black tea, Uzbekistan black tea, China black tea, Hong Kong black tea, Macao black tea, North Korea black tea & Mongolia black tea.
South Korea black tea - Production, Exports, Imports, Seasons and HS Codes
The quantity of black tea exported by South Korea in 2020 was 307 tonnes. In 2019 South Korea exported 203 tonnes of black tea. For 2019 alone, the demand for South Korea black tea (processed category) has gone down, changing by -6.881 % compared to the year 2018. Between 2017 and 2019, black tea's exports decreased by -36.16 pc netting the country US$2.22m for the year 2019. South Korea's black tea exports are categorised as:
- Black fermented tea and partly fermented tea, whether or not flavoured, in immediate packings of > 3 kg (HS code 090240)
- Black fermented tea and partly fermented tea, whether or not flavoured, in immediate packings of <= 3 kg (HS code 090230)
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South Korea black tea export values
In 2019, South Korea supplied black tea costing 2.22m USD, a surge of 33.01% from 2018's total black tea export of 1.669m USD. The annual increase in value of South Korea black tea between 2017 to 2018 was -1.534 pc.
The annual/yearly change in the amount of South Korea's black tea exports between 2017 and 2019 was -36.16 percent when compared to a variation of -6.881% in the growth rate between 2018 and 2019.
South Korea's stake of the world's total black tea's exports in 2019 was less than 1%. South Korea holds number 24 in world exports of black tea.
Export markets for South Korea black tea ( in '000$ )
South Korea's best performing export markets for black tea are US, Yemen, Germany, Australia and Canada.
Import/Export Trends
South Korea is a net importer of black tea. The annual growth of South Korea black tea in value between 2015 to 2019 was -24%, per annum, while annual growth in quantity for the same period was -16%, per annum.
South Korea purchased 1,492 tonnes of black tea in 2019.
Production
The production of black tea in South Korea was 5,536 tonnes in 2019 and is forecast to change by an average of 2.71%. The country had an estimated 5,066.00 hectares under black tea cultivation.