What is the price of natural lac per kilogram/pound in South Korea today?
The retail price range for South Korea natural lac is between US$ 21.78 and US$ 29.70 per kilogram or between US$ 9.88 and US$ 13.47 per pound(lb). Click here to see today's exact prices of natural lac in South Korea
The retail price range in South Korean won for natural lac is between KRW 29,037.07 and KRW 39,596.00 per kilogram or between KRW 13,168.74 and KRW 17,957.37 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2024, the approximate wholesale price range for South Korea natural lac is between US$ 15.24 and US$ 20.79 per kilogram or between US$ 6.91 and US$ 9.43 per pound(lb).
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South Korea Natural Lac Export Prices - Historical, Trends and Prediction
The export price per kilogram of Natural Lac from South Korea has seen a significant fluctuation over the last five years. In 2012, the price was 9.58 US dollars per kg, which dropped to 5.00 US dollars per kg in 2015. However, the price rose again in 2017 to 10.60 US dollars per kg, before dropping to 10.17 US dollars per kg in 2018. The price then decreased further to 6.38 US dollars per kg in 2019 and 3.84 US dollars per kg in 2020. In 2021, the price rose to 5.86 US dollars per kg, before dropping to 3.29 US dollars per kg in 2022. Based on this data, it is predicted that the export price per kilogram of Natural Lac from South Korea will remain relatively stable in 2023, at around 3.29 US dollars per kg, and will increase slightly in 2024 to around 3.50 US dollars per kg.South Korea Natural Lac Import Prices - Historical, Trends and Prediction
The import price per kilogram of Natural Lac into South Korea has seen a significant fluctuation over the past five years. In 2012, the price was 9.58 US dollars per kg, which then dropped to 5.00 US dollars per kg in 2015. This was followed by a sharp increase to 10.60 US dollars per kg in 2017, before dropping again to 10.17 US dollars per kg in 2018. The price then decreased further to 6.38 US dollars per kg in 2019, and then to 3.84 US dollars per kg in 2020. In 2021, the price rose to 5.86 US dollars per kg, before dropping to 3.29 US dollars per kg in 2022. Based on this data, it is predicted that the import price per kilogram of Natural Lac into South Korea will remain relatively stable in 2023, at around 3.29 US dollars per kg. In 2024, the price is expected to increase slightly, to around 3.50 US dollars per kg.Export values for South Korea natural lac
The total values in export for natural lac in South Korea were US$ 53, US$ 61 and US$ 153 in US dollar thousand for the years 2017, 2018 and 2019 in that order.
Prices of other produce in the Agro Commodities category in South Korea: Eggs, Wood Ear, Jelly Fungi Tremella, Coffee Husks & Skins, Coca leaf, Poppy Straw, Ephedra, Seaweed, Sugar Beet & Sugarcane.
See prices of natural lac in other countries across Asia: Kazakhstan natural lac, Kyrgyzstan natural lac, Tajikistan natural lac, Turkmenistan natural lac, Uzbekistan natural lac, China natural lac, Hong Kong natural lac, Macao natural lac, North Korea natural lac & Mongolia natural lac.
South Korea natural lac - Production, Exports, Imports, Seasons and HS Codes
The amount of natural lac shipped by South Korea in 2020 was 25 tons. In 2019 South Korea shipped 24 tonnes of natural lac. For the year 2019 alone, the market for South Korea natural lac (agro commodities category) has surged, flactuating by 300 percent compared to the year 2018. Between 2017 and 2019, natural lac's exports increased by 380 percent bringing South Korea US$0.15m for the year 2019. South Korea's natural lac exports are classified as:
- Lac; natural gums, resins, gum-resins, balsams and other natural oleoresins (excluding gum Arabic) (HS code 130190)
- Natural lac (HS code 130110)
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South Korea natural lac export values
In 2019, South Korea supplied natural lac worth 0.15m USD, an improvement of 145.90% from 2018's total natural lac export of 0.061m USD. The annual change in value of South Korea natural lac between 2017 to 2018 was 15.094 pc.
The annual change in the volume of South Korea's natural lac exports between 2017 and 2019 was 380 pc compared to a variation of 300% in the period between 2018 and 2019.
South Korea's portion of the world's total natural lac's exports in 2019 was less than 1%. The country holds number 18 in world exports of natural lac.
Export markets for South Korea natural lac ( in '000$ )
Import/Export Trends
South Korea is a net exporter of natural lac. The annual growth of South Korea natural lac in value between 2015 to 2019 was 12%, per year, while annual growth in quantity during the same period was 7%, per annum.
South Korea imported 249 tonnes of natural lac in 2019.