What is the price of ginseng roots per kilogram/pound in South Korea today?
The retail price range for South Korea ginseng roots is between US$ 3.94 and US$ 18.78 per kilogram or between US$ 1.79 and US$ 8.51 per pound(lb). Click here to see today's exact prices of ginseng roots in South Korea
The retail price range in South Korean won for ginseng roots is between KRW 5,259.88 and KRW 25,033.88 per kilogram or between KRW 2,385.43 and KRW 11,353.24 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2024, the approximate wholesale price range for South Korea ginseng roots is between US$ 2.76 and US$ 13.14 per kilogram or between US$ 1.25 and US$ 5.96 per pound(lb).
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South Korea Ginseng Roots Export Prices - Historical, Trends and Prediction
The export price of Ginseng roots from South Korea over the last five years has been quite varied. In 2017, the price was 182.78 US$ per kg, followed by a sharp increase to 244.20 US$ per kg in 2018. In 2019, the price dropped slightly to 257.11 US$ per kg, before rising again to 257.25 US$ per kg in 2020. 2021 saw a decrease to 243.41 US$ per kg, and the most recent year, 2022, saw an increase to 262.55 US$ per kg. Based on this data, it is predicted that the export price of Ginseng roots from South Korea in 2023 will be around 255.00 US$ per kg, and in 2024 will be around 250.00 US$ per kg.South Korea Ginseng Roots Import Prices - Historical, Trends and Prediction
The import price per kilogram of Ginseng roots into South Korea has seen a steady decline over the last five years. In 2016, the price was $155.23, which was the lowest of the five-year period. This was followed by a slight increase in 2017 to $182.78, before dropping again in 2018 to $244.20. In 2019, the price rose to $257.11, before dropping again in 2020 to $257.25. The most recent year, 2021, saw a further decrease to $243.41, and the price is currently at $262.55. Based on the current trend, it is likely that the import price per kilogram of Ginseng roots into South Korea will continue to decrease in the next two years. We predict that the price in 2023 will be around $250.00, and in 2024 it will be around $240.00.Export values for South Korea ginseng roots
The total values in export for ginseng roots in South Korea were US$ 51,227, US$ 67,081, US$ 81,073 and US$ 82,018 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Tubers category in South Korea: Seed Potatoes, Potatoes, Cassava, Sweet Potatoes, Yams, Taro (Arrowroot), Licorice roots, Chicory roots & Cocoyam.
See prices of ginseng roots in other countries across Asia: Kazakhstan ginseng roots, Kyrgyzstan ginseng roots, Tajikistan ginseng roots, Turkmenistan ginseng roots, Uzbekistan ginseng roots, China ginseng roots, Hong Kong ginseng roots, Macao ginseng roots, North Korea ginseng roots & Mongolia ginseng roots.
South Korea ginseng roots - Production, Exports, Imports, Seasons and HS Codes
The volume of ginseng roots exported by South Korea in 2020 was 268 tons. In 2019 South Korea sold 319 tonnes of ginseng roots. For 2019 alone, the demand for South Korea ginseng roots (tubers category) has reduced, changing by -3.916 pc compared to the year 2018. Between 2017 and 2019, ginseng roots' exports went down by -13.08 pc bringing South Korea US$82.02m for the year 2019. South Korea's ginseng roots exports are categorised as:
- Ginseng roots, fresh or dried, whether or not cut, crushed or powdered (HS code 121120)
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South Korea ginseng roots export values
In 2019, South Korea supplied ginseng roots with a value of 82.02m USD, an increment of 1.17% from 2018's total ginseng roots export of 81.073m USD. The yearly growth in value of South Korea ginseng roots between 2017 to 2018 was 20.858 percent.
The annual variation in the quantity of South Korea's ginseng roots exports between 2017 and 2019 was -13.08 percent when compared to a variation of -3.916% in the growth rate between 2018 and 2019.
Export markets for South Korea ginseng roots ( in '000$ )
South Korea brought in 5 tonnes of ginseng roots in 2019.