What is the price of sugar per kilogram/pound in South Korea today?
The retail price range for South Korea sugar is between US$ 0.90 and US$ 1.44 per kilogram or between US$ 0.41 and US$ 0.65 per pound(lb). Click here to see today's exact prices of sugar in South Korea
The retail price range in South Korean won for sugar is between KRW 1,196.10 and KRW 1,919.02 per kilogram or between KRW 542.45 and KRW 870.31 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2024, the approximate wholesale price range for South Korea sugar is between US$ 0.63 and US$ 1.01 per kilogram or between US$ 0.28 and US$ 0.46 per pound(lb).
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South Korea Sugar Export Prices - Historical, Trends and Prediction
The export price per kilogram of sugar from South Korea has seen a steady decline over the last five years. In 2017, the price was 0.54 US dollars per kilogram, and in 2021 it was 0.55 US dollars per kilogram. However, the price dropped to its lowest point in 2019, when it was 0.42 US dollars per kilogram. Since then, the price has been slowly increasing, reaching 0.44 US dollars per kilogram in 2020 and 0.55 US dollars per kilogram in 2021. Based on this trend, it is predicted that the export price per kilogram of sugar from South Korea will be 0.58 US dollars in 2023 and 0.61 US dollars in 2024.The exports of sugar from South Korea are categorised as:
- Raw beet sugar (excluding added flavouring or colouring) (HS code 170112)
- Raw cane sugar (excluding added flavouring or colouring) (HS code 170111)
- Cane or beet sugar and chemically pure sucrose, in solid form (excluding cane and beet sugar containing added flavouring or colouring and raw sugar) (HS code 170199)
- Refined cane or beet sugar, containing added flavouring or colouring, in solid form (HS code 170191)
- Raw cane sugar, in solid form, not containing added flavouring or colouring matter, obtained without centrifugation, with sucrose content 69° to 93°, containing only natural anhedral microcrystals (see subheading note 2.) (HS code 170113)
- Raw cane sugar, in solid form, not containing added flavouring or colouring matter (excluding cane sugar of 1701 13) (HS code 170114)
South Korea Sugar Import Prices - Historical, Trends and Prediction
The import price per kilogram of sugar into South Korea has seen a steady decline over the last five years. In 2017, the price was 0.54 US dollars per kg, and this decreased to 0.47 US dollars per kg in 2018. The price then dropped further to 0.42 US dollars per kg in 2019, before increasing slightly to 0.44 US dollars per kg in 2020. The price then rose again to 0.55 US dollars per kg in 2021, before dropping back to 0.62 US dollars per kg in 2022. Based on this trend, it is predicted that the import price per kilogram of sugar into South Korea will be 0.56 US dollars per kg in 2023 and 0.48 US dollars per kg in 2024.Export values for South Korea sugar
The total values in export for sugar in South Korea were US$ 168,865, US$ 167,621, US$ 140,325 and US$ 120,147 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 & Black Tea.
See prices of sugar in other countries across Asia: Kazakhstan sugar, Kyrgyzstan sugar, Tajikistan sugar, Turkmenistan sugar, Uzbekistan sugar, China sugar, Hong Kong sugar, Macao sugar, North Korea sugar & Mongolia sugar.
South Korea sugar - Production, Exports, Imports, Seasons and HS Codes
The volume of sugar sold by South Korea in 2020 was 314,322 tonnes. In 2019 South Korea exported 286,182 tonnes of sugar. In 2019 alone, the demand for South Korea sugar (processed category) has shrunk, recording a change of -4.619 percent compared to the year 2018. Between 2017 and 2019, sugar's exports decreased by -7.07 percent netting the nation US$120.15m for the year 2019. South Korea's sugar exports are categorised as:
- Refined cane or beet sugar, containing added flavouring or colouring, in solid form (HS code 170191)
- Raw cane sugar, in solid form, not containing added flavouring or colouring matter, obtained without centrifugation, with sucrose content 69° to 93°, containing only natural anhedral microcrystals (see subheading note 2.) (HS code 170113)
- Cane or beet sugar and chemically pure sucrose, in solid form (excluding cane and beet sugar containing added flavouring or colouring and raw sugar) (HS code 170199)
- Raw cane sugar, in solid form, not containing added flavouring or colouring matter (excluding cane sugar of 1701 13) (HS code 170114)
- Raw cane sugar (excluding added flavouring or colouring) (HS code 170111)
- Raw beet sugar (excluding added flavouring or colouring) (HS code 170112)
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South Korea sugar export values
In 2019, South Korea supplied sugar worth 120.15m USD, a drop of -14.38% from 2018's total sugar export of 140.325m USD. The annual reduction in value of South Korea sugar between 2017 to 2018 was -16.284 per cent.
The annual variation in the volume of South Korea's sugar exports between 2017 and 2019 was -7.07 per cent when compared to a variation of -4.619% in the growth rate between 2018 and 2019.
Export markets for South Korea sugar ( in '000$ )
South Korea's top destinations for sugar are Japan, Vietnam, Ethiopia, Hong Kong and United Arab Emirates (UAE).
South Korea ordered 1,947,039 tonnes of sugar in 2019.